"Since all consumers will seek their wants and needs at all cost, the study of marketing becomes a useless excercise." Is this true?

Expert Answers

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This statement does not make sense.  It is true that consumers will pursue their wants and needs.  However, this does not mean that marketing is pointless.

Marketing can be seen as a way of helping to determine what consumers’ wants are.  We know that consumers will pursue the things that they want, but we do not know what those things are.  If a firm does not market its products, people will not necessarily know that they want those particular things.  The firm has to engage in marketing so that people become aware of its products and so they come to want those products.

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