Principles of Marketing.
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Part One In this section I must look at the whole marketing concept. I need to describe the main principles of marketing and how legal or ethical constraints changed marketing concepts. Principles of Marketing Marketing is about understanding the customer's needs and ensuring that products and services are of the highest possible standards in order to satisfy the potential customer's desires and needs. Marketing also focuses on ways in which the business can pressure the conduct of customers, and also have customers influence marketing. Marketing is essential to the success of all businesses. Its main aim is to enable businesses to meet the needs of their current and their potential customers and should be able to: Understanding Customers Needs It is very important to understand the needs and wants of customers. The needs of customers may vary between different groups of people. When a business decides to market a new product they must know who their target market is going to be. This is because consumer's priorities are different depending on the product sold. A recent example of this is the Sunday Express has recently published an article written by Kilroy Silk which is very offensive to Arab's. The article was offensive to the Arab people and branded them suicide bombers, limb amputators, and women repressors. The main target group for the Sunday Express is not Arab's directly, but Britain in general. ...read more.
It will result in loss of revenue and a bad reputation which the public will pick up and to a more serious extent, a pressure group could emerge.1 What is Ethics? Definitions Business Ethics Business ethics is the application of ethical values to business behaviour. It applies to any and all aspects of business conduct, from boardroom strategies and how companies treat their suppliers to sales techniques and accounting practices. Ethics goes beyond the legal requirements for a company and is, therefore, discretionary. Business ethics applies to the conduct of individuals and to the conduct of the organization as a whole. It is about how a company does its business, how it behaves intrinsically.2 1 http://www.revision-notes.co.uk/revision/853.html http://www.ibe.org.uk/faq.htm#whatbe Why/Why not be ethical There are many reasons why businesses are ethical and are not ethical. Businesses need to understand who they are aiming for and for what reasons. Companies need to understand their market as much as possible to determine whether ethics is a major issue with the target customers, and should it be a big importance to businesses actions. Many companies need to show their ethical and moral responsibilities to the community to dominate their market. An example of this is the business Body Shop. This is because they do not test on animals and support projects in poor countries. They also use recyclable packaging materials. Another aspect is that they offer a percentage of the company's profits to charity. ...read more.
These figures, which describe the fatalities and injuries, are false. All independent experts estimate that for each person who dies by an auto fire, many more are left with charred hands, faces and limbs. This means that Ford's 1:1 death to injury ratio is inaccurate and the costs for Ford's settlements would have been much closer to the cost of implementing a solution to the problem. However, Ford's "cost-benefit analysis," which places a dollar value on human life, said it wasn't profitable to make any changes to the car. This case study concludes how unethical and morally wrong this business was to their customers. They decided the dollar was more important than a life which means their ethical responsibilities are at their lowest. But as stated this may be morally and ethically wrong, but in the situation of the business, being unethical help Ford profit wise. Information from; http://www.fordpinto.com/blowup.htm In conclusion to this the question is raised, Should businesses be ethical? In my opinion to an extent such as the Ford Pinto being so unethical should be a criminal offense. Endangering other lives in order to gain money in my opinion is wrong. But I also agree with FCUK's as a popular slogan for clothing. I regularly purchase items such as this and my opinion is that they are only words and are harmless. ...read more.
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