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MKT600 Marketing Reflective Video Journal

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  • Course Code: MKT600
  • University: Laureate International Universities
  • Country: United States

Question:

This assessment requires your understanding of today’s issues of sustainable marketing, as there is a strong call for marketing organisations to practise a responsible marketing. Based on your research about this topic, you should now present a sustainable marketing topic that include:

1. The issues of socially responsible marketing (ethical consideration);

2. The issues of environmentally responsible marketing;

3. A video recording of the above presentation in 5 (five) minutes (+/- 30 seconds).

Note: To pass the subject, students must pass this mandatory assessment aside from achieving a total mark of 50%.

 

Answer:

Introduction

Generally marketing ethic is a major aspect which should be recognized and adhered by every subject involved in marketing(Bansal,2015 p.67).On considering the aspect of ethical market then it revolves around the marketing strategies that focus and seeks to enhance honesty ,the aspect of fairness and moral values. Therefore ethical marketing will target to have rules and regulations that bide all the subjects involved in a business [00:34].

Let’s consider issues in marketing ethical that tend to form the principles on the ethical marketing in every business (Bansal, 2015 p.167).From different studies the ethical marketing is identified in different measures.

 

Some of the principles of ethical marketing include [01:00];

  1. The issue of marketing communication in business that focuses on fairness and truth.
  2. Treating consumers and the entire society properly by providing the necessary product to the appropriate segment within the society and other marketers need not to reveal the privacy of the consumers (Bansal, 2015 p.236).
  3. All markets in business should be transparent on who they pay in order to endorse the products in the market.
  4. Government laws and regulations which need to be adhered by every marketer in marketing environment .This guides marketing subjects to comply with all the standards and rules which are designed by the appropriate authorities in market.

Lastly on the principles of ethical marketing, decisions done by the relevant individuals in marketing environment need to be discussed with the utmost honesty [01:48].

Therefore, in marketing in order to demonstrate the core aspects of ethical consideration we need to understand that business standards revolve around the 4ps in business (Bird et al,208 p.45).The 4ps in ethical marketing tend to concentrate on the matter  of pricing which should be fair, the aspect of product which demands all enterprises to sell appropriate products  to their customers, the issue of place where the company need to reach their targeted market and lastly considering promotion whereby  market need to access all relevant promotion practices .There are  clear advantages and disadvantages of ethical marketing .For example on checking on the marketing  practices such as advertising  in general it can be ethical or unethical. Different enterprises use either the ethical or unethical practices (Bird et al,208 p.90).Unethical practices like involving in illegal business tend to obstruct the laws and regulations in marketing sphere[02:36].

Let’s ask ourselves who employs ethical marketing .In short all standards requires all companies to engage in ethical practices. Practices such as caring for employees, involving in legal businesses, selling the right product and maintaining conducive environment all qualifies as the ethical marketing practices (Bird et al, 208 p.145). Also on the other hand behaviors such as surrogate advertisement, involvement in illegal business ,the issue of false brands and the aspect of unverified claims form the customers and whole environment all fall under the unethical marketing practices[03:12].

Environmental consideration of the marketing practices.

Lastly is on how the marketing is responsible to the environment. Marketing environment is well defined as the set of all factors including the 4ps within the market and the factors outside the organization that the marketers need in designing of the marketing mix [04:00].This suggests that the marketing environment has both internal and external environment (Murtagh et al, 2016 p.67).Marketing practices need to be responsible when dealing with the various factors in both internal and external marketing. Every marketer is required to adhere to the standards and measures when identifying opportunities in marketing environment. In order for the marketing responsibility to take place in marketing then the following should be adhered;

  1. Identifying the relevant factors in marketing environment that are considered to be critical for both business enterprise and the surrounding areas.
  2. Identifying the changes that may be incurred from the identified factors .The concept of trend is important in marketing process.
  3. Analyzing consumer market and the industrial market during the marketing planning process (Murtagh et al,2016 p.124).Consumer market comprises the individual buyers who acquire goods for individual use thus meeting their needs and wants while the industrial basically individuals buying goods for the purpose of either manufacturing other commodities or embarking in trade[04:36].

Conclusion

When carrying out the activities mentioned above marketers need to be keen in order to identify the appropriate ethical measures that is expected in the entire market (Sen, 2014 p.67). Only the ethical measures will help the marketing sphere to run smoothly. Marketing environment should be well identified and then apt practices should be used to control different factors within and outside an organization [05:00].

 

Reference.

 Bansal, R., 2015. Ethical considerations in marketing. South Asian Journal of Marketing & Management Research, 5(3), pp.125-131.

Bird, G., Westcott, M. and Thiesen, N., 2018. Marketing Dark Heritage: Building Brands, Myth-Making and Social Marketing. In The Palgrave Handbook of Dark Tourism Studies (pp. 645-665). Palgrave Macmillan, London.

Murtagh, N., Roberts, A. and Hind, R., 2016. The role of environmental sustainability in marketing of small architectural design practices. Construction management and economics, 34(4-5), pp.258-271.

Sen, R.A., 2014. A Study of the Impact of Green Marketing Practices on Consumer Buying Behaviour in Kolkata. International Journal of Management and Commerce Innovations, 2(1), pp.61-70.

OR

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