Type: Process Essays
Sample donated: Valerie Cross
Last updated: October 1, 2019
Inthe changing business environment (economic, liberalization, increasedcompetition, availability of more options, more emphasis on quality etc.)Customers are active. Due to decrease in purchasing power of a rupee peoplehave begun to loose faith in saving.
It has resulted into spending attitude,deriving materialistic pleasure by purchasing and consuming new products.Fierce competition has made everything fair, even if it is unethical.Organizational outlook of the concept of marketing has changed and so has theconsumer’s perception. The present paper takes a close look at the variousethical issues involved in marketing innovations and what organizations aredoing unethical practices. Marketing innovationsstrategy play a very important role in launching a new product in the marketcompetition of the competitors, various channels of distribution, customersegment in the market, network strategy of the distribution of the product etc.all these dimensions are required because it can affect to the purchase levelof the customer and product share volume in the market. Now we focus onMarketing Mix which includes Mc.
Carthy’s & P’s : Product, Price, Promotion& Place, are crucial for the marketing decision making process. These 4P’s, is an important task for any marketer as they play a crucial role inframing of strategies. Products have an identity and a personality of theirown. Products also embody the ethical decisions made at the corporate level.Socially responsive practice may lead companies to design new products whichenable them to develop new sources of competitive advantage Most customers havelittle idea whether a product is fairly priced or not. Unethical practicesarise in ‘Place’ when the marketer stops distribution at a particular placebecause of not yielding profits. Customers who frequently purchase a particularproduct from that particular place are deprived of getting the product from thedesired place.
We have seen a plethora of a cricketers occupying news paper andtelevision space probably promoting products they never use or understand. Thenew competition is and will be increasingly between networks rather than singleorganizations. Successful executives will be those who can effectively manage aethical working environment, balance stake holder value and build and maintaintheir personal expertise. Marketing manager must make every efforts to verifythat their choices and action serve the best interest of all related customer,organization & society. Most will need to master new skills to address theemerging challenges. If organization makes the ethical practices, they willstand in the market for years with clear image and brand name but if they canmade unethical practices they can no more in the market because acceptance andnon acceptance of product is totally in the hands of end-user.