“Marketing and ethics are like oil and water – they just don’t mix. There is no place for ethics in the cut-throat world of marketing”. Discuss
The success of a product is always determined by how well it’s marketed. In that case marketing has an important role in every product that we produce. But when ethics is associated with marketing, it can’t go on one direction. It is like oil and water which does not mix together. What is marketing?
Marketing is a societal process by which individuals and group obtain what they need and through creating, offering, and exchanging products and value with others (Kotler,2002). Marketing revolves around product, price, promotion, place or distribution and this is generally called as marketing mix. When it comes to selling of a product, marketing strategies should be applied in every step until it reaches to its consumers. The main objectives of marketing should be to attract, satisfy and retain the customers. Building a marketing plan is the important step for any organisation. By building a strong marketing plan with the necessary ethics helps an organisation to be versatile from its competitors. It helps to add an extra value to your product. A strong marketing plan makes the organisation to be successful ad also it helps to meet the companies objectives (Williams, 2001). Therefore while considering a marketing plan an organisation should think from the customer’s perspective. Scope of marketing in the present scenario.
Marketing has an important role to play in the present scenario. Every products destiny depends up on how well it is marketed and also its brand value among consumers. As the world is moving to a stage of global recession and financial crisis, consumers are looking for good products with less prices that they can afford to meet the daily needs of their life. To provide good products in a cost effective manner is one of the greatest challenge for manufactures. The term marketing appears...