Essay about Legal and Ethical Considerations of Marketing

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

This case study analyzes the experiences of Courtland Kelley at General Motors (GM). Courtland Kelley a third generation GM worker put his job on the line by pushing the GM managers and executives to fully respond to the safety issues found while working as a safety inspector at the company. Kelley along with his supervisor Bill McAleer first discovered the issues while auditing GM cars at rail yards across the country, a spot check of vehicles before the cars were cleared to be delivered to the dealers. McAleer was taken off the audit as a result, who subsequently sued the company seeking whistle-blower protection. The case was eventually dismissed by a judge in favor of GM. The judgement only increased Kelley’s

In the article Marketing is Everything, the author Regis McKenna emphasizes the significant of managing strategic marketing. He also highlights that the transformation process of marketing and several important marketing elements that lead originations toward success. First and foremost, McKenna compares two periods of companies. Before technology developed, most companies concentrated on sale or product driven. In other words, during that time, products were displayed as the first priority in corporations rather than being customer oriented. Instead of researching customers’ desires and customizing new products for them, manufacturers and sellers did not pay attention to their customers’ needs and only tried to alter their minds to match products.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

Marketing consists of all the activities to facilitate the exchange. Within this societal perspective, then (1) the makers (2) what they are marketing and (3) their potential markets all assume broad dimensions. The category of marketers might include, in addition to business firms, such diverse social units as (a) a political party trying to market its candidate to the public (b) the director of an art museum providing new exhibits to generate greater attendance and financial support (c) a labor union marketing its idea to members and to company management; and (d) professors trying to make their courses interesting for students. In addition to the range of items normally considered as products and services, what is being marketed might include (a) ideas such as reducing air pollution or contributing to the red cross (b) people, such as new football coach or a political candidate and (c) places, such as industrial plant sites or a place to for a vocation. In a broad sense markets include more than the direct consumers of products services and ideas. Thus a state university’s market includes the legislators who provide funds, the citizens living near the university who may be affected by university activities and the alumni. A business firms market may include government regulatory agencies, environmentalists, and local tax assessors. Definition of Marketing As you already know there are

Marketing is “an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders” (Kotler & Keller, 2009, p. 5). The main scope of marketing is to identify and to meet social and human needs. PepsiCo understands that as an international food and beverage organization that reaches millions of consumers daily, the agenda of its marketing campaigns can determine the success or failure of the company.

Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2012)

Marketing is a lot like religion and most people have a strong belief that this belief is typically predicted on how they were raised rather than a formal study of religion belief. Marketing also has its share of agnostics as well as atheists – “I don’t believe Marketing exists”. Regardless of how marketing is viewed today, few questions are come up: Which can survive without the other? This is a litmus test in many situations and all believe it is fair to say that any business cannot survive without a proper marketing strategy. (Wardlaw, 2007)

Marketing is in a part of everyone’s daily lives. We see it the moment we turn on the television, when we go to the grocery store, and even at our jobs. When I think about marketing, I think about all of my favorite restaurants, places to go, favorite clothing brands, and shoes. All of my favorite things come to mind when we discuss the concept of marketing. When I think about marketing, I think of all of the companies that produce my favorite things. Marketing campaigns are those people who work on making the products, finding defects and making improvements, innovating and designing. I also believe that those people are interested customer satisfaction. Those people influence me to keep buying my favorite things.

As Jobber(2012) was claiming, the marketing concept is "Achieving corporate goals by meeting and exceeding customer needs, better than the competition". Marketing is the process of telling a true story in an unforgettable manner. As a consequence, it became an essential tool in the competitive business environment. The main objective is to maximize the company 's profit by showing up with stunning adverts. Bearing in mind the development of technology, "It is well known that markets grow by the reduction of unit prices: this is how the computer became a household necessity", this could not be possible without a good marketing strategy (Kapferer 2012, p.205).

Since the beginning of time, people have made money by selling a product for a profit. The foundation of our nation is based off successful marketing strategies of our ancestors. Sort of how in today’s marketing society businesses recruit celebrities to endorse their products like Dr. Dre’ endorses Beat’s headphones. Marketing involves more than just physical advertisement; it requires thought about how to attract a customer’s attention and emotions.

According to Jeff Tanner and Mary Anne Raymond (2010), the marketing era spanned from 1950 to at least 1990, where the "dominant philosophy among businesses was the marketing concept" (p.7). The marketing era was considered revolutionary and has set new standards in approaching marketing, introducing the traditional 4-Ps approach to marketing that has been considered the most efficient for decades. The 4-Ps approach is based on four main components: product, price, place, and promotion. Companies that incorporate the 4-Ps approach prioritize their product uniqueness and quality to be the selling point of such product. Hence, the first step in the 4-Ps marketing approach is always the power of the product itself. Second, the price component is used to leverage competitive advantage over

According to Thomas Donaldson and Patricia Werhane, “Ethics can be defined as the study of whatever is right and good for humans.” Ethics are defined as rules of behavior, code of conduct, ability to distinguish between the good and the bad. In general, ethical marketing is a process through which an organization or a company sells its products and services by using the fair means of ethical principles there by creating a strong customer relationship resulting in an increased value of stakeholders. Therefore, marketing principles includes a fair and true level in marketing communications, respecting the privacy of its customers, obeying and following the government regulations in addition to the standards set by the marketers. The U.S.Constitution (Kennedy’s Consumer Bill of Rights 1962) provides protection for basic consumer rights as long as they meet five basic conditions:

In 1935, the National Association of Marketing Teacher adopted the first definition of marketing, which was ' the performance of business activities that direct the flow of goods and services from producers to consumers. ' Since 1948, the American Marketing Association has become responsible for the definition of marketing, and it adopted the definition in the same year . The definition of marketing has changed many times since 1948. In 2012, the AMA has provided the newest definition, which is the "activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Practical and ethical marketing are "the basic principals and values that govern the business practices of those engaged in promoting products or services to consumers. In another word, ethics is to act fairly, truthfully, and what it is culturally acceptable. Practical and ethical consideration of marketing to children has changed throughout the years. It has changed because of the growth of marketing competition.

Stakeholder-orientated framework, analyzing ethical problems on the basis of whom they affect: consumers, competitors, society as a whole •