Marketing's contribution to consumer welfare: A research agenda

Abstract

AbstractThe marketing discipline emerged in the early 20th century in response to the needs for new institutions and processes for delivering goods and services to an increasingly urbanized and diverse market. Evidence suggests that the value delivery system(s) that have emerged have substantially improved consumer welfare. This history and success of the marketing discipline is frequently overlooked in discussions of markets and marketing. This paper suggests the need to place discussion of the role of marketing and its contributions to social welfare in an appropriate historical context. It also draws attention to the need for research on the complementary roles of markets and governments and the contributions, and diminutions, of each to consumer welfare. Finally, the paper suggests that marketing's unique contribution to improving consumer welfare and the quality of life resides in its unique perspective on value delivery systems.