The effect of ethical issues on strategic marketing
Category : Analysis Examples
This an analysis to the effect of ethical issues on strategic marketing. This paper will first discuss what strategic marketing is, the factors that make strategic marketing works. Next will be the forms of ethics in relation to strategic marketing. The issues ethical will be enumerated, with the analysis on how it will affect strategic marketing. A conclusion will follow that will summarize key points that has been discussed. A recommendation will end the paper, which the author will provide suggestions that will strategic marketing a success in lieu of the ethical issues.
The paper will references from different authority of the subject matter and it will be given acknowledgement, in order to prevent the commission of plagiarism. The references will only serve as a tool to have a more comprehensive report.
CONCEPT OF STRATEGIC MARKETING
Marketing has indeed been a part of the conduct of business all over the world especially those business which involves interaction with the consumers. The key to have a success in marketing is to develop a strong strategic marketing that will enable the company’s conduct be more of developed and progressive.
According to Proctor (2000), a strategy is plan that integrates an organization’s major goals, policies, decisions, and sequences of actions into a cohesive whole. He also furthers stated that in looking specifically at marketing then there may be pricing, product, promotion, distribution marketing research, sales, advertising, merchandising strategies. He stated that strategy is concerned with effectiveness rather than efficiency and is the process of analyzing the environment and designing the fit between the organization, its resources, and objectives in the environment.
From the said statement, it can be inferred that strategic marketing does not only it must revolve around the process of marketing itself but to think of ways that can make the business be on the competitive edge. Strategies on marketing must take into account the whole process in order to approach and meet the never-ending issues and competition world. Although effectiveness may be treated as the same with efficiency, effectiveness is the appropriate word because the usefulness of a marketing strategy must not be a one-time process but it involves a long and continuous process that will ensure that the company will be able to have an intact position in the business world.
According to Go (2001), marketing should always consider the strengths and weakness of its company. It must therefore choose the market segment when it can have a potential leadership or at least a strong challenger role. Marketers should balance between the company’s requirements for profit and its desired market share. Thus, as inferred by the author of this paper, a company in order to have a strategic marketing must not only consider the things or matters that are present in its organization but also on the external matters that can has a great impact with the organization.
Basically, it is looking on the market, not only with target market but also into the future market that may have suddenly be part of the target market of an organization. The target and potential target must be taken into consideration in order to carry out on its effectiveness. Matters concerning the whole market itself must not be focusing on the conduct of the consumers but also on the issues that can make the whole marketing more systematic and in line with what the company’s mission and vision.
FACTORS AFFECTING STRATEGIC MARKETING
All of the authorities have said that the following factors are the following are the customers, competition, and the company. These factors are the factors that must be taken into consideration by the companies but also the factors that will affect the strategic marketing. The customers must be satisfied with their wants, needs, and expectations. The competition must be outperformed. The company must ensure the corporate health and profit.
With these factors, such has each own ethical issues, which can directly affect the strategic marketing of every company. The next section will enumerate the ethical issues that affect the said factors with an analysis. The ethical issues presented were based on the readings conducted and was formulated by author. Such formulation was not taken from any references, which will make the material, not personally by the author of this paper.
ETHICAL ISSUES AND THE ANALYSIS
According to Marketing mo (2006), competitive positioning is about defining how a company will be bale to differentiate its offering and create value for market. This means that in a business world there is a need for a company to be able to see the competition world. The competition must not only rely on matters that affect the price and the prices on the proper way for it to compete. Unfair competition may result into ethical issues that will make the company’s business conduct not conducive for competition but treating the business world in an unprofessional way.
According to Go (2001), the overriding objective of the company is not to justify the needs and want of the customers but to do so profitably better than its competition. Otherwise, the competition will end satisfying better the customers than the company. From this statement, it can be inferred that companies must see to it the business organization was competing in a professional and ethical way. Not doing so, the consumers will tend to control the competition giving a losing end to all competitors.
Ethical issues on the matter of competition must be regulated to what company in their marketing strategy must work. Some of the ethical issues that may affect the competition are providing false information regarding the competitor’s product, which is a deviance to the fact that in marketing, strategies must be based on honest and factual competition. As aforementioned, this is an unprofessional conduct of an organization that can be perceived by consumers in a negative way hence will still choose the other product.
This kind of ethical issue will have an effect on the strategic marketing because this will put the company on the leadership edge but on the losing end, making its strategic marketing a failure and lost of every effort and time as used by the company in coming up with such strategy. Another effect is that the perception or the reputation of the company will not be easily repolished, a more extensive and comprehensive strategy must be used but still the acceptance of the consumers cannot bring back easily, hence a lot will be result into losing, especially with the company’s capacity to satisfy and make its consumers more doubtful as to its credibility to ensure that it deals on the business world in a professional way.
Another factor is the customers. According to Bradley (2003), a customer orientation means focusing exclusively on customers as the way to achieve long-run profits. It means directly appealing to customers by offering a better match of products or services to customer needs. On the other hand, Go (2001), said that nothing can be more convincing to customers than the fact that many other consumers also want the same product or services. To increase sales revenue, a firm can increase either the price or the sales volume.
Hence, there is a need for every business organization to create a strategic marketing that is conducive to consumers. The writer perceived that this type of strategy would ensure that consumers would be able to accept the company’s product openly in addition that consumers see the fact they are well taken care. However, some ethical issues will drive the consumers away, which will in turn have an effect to its marketing strategy.
An ethical issue would be the fact that the consumers are making believed that such products will be able to meet their basic requirements, but on the contrary, it is way to induce consumers. This is an ethical issue, which is not in line with customer satisfaction. As stated customer satisfaction is one the main factors to take into consideration on making strategic marketing. This is violation on the idea that business must act responsibly in relation to fair trade.
This ethical issue will greatly affect the strategic marketing because the strategy itself will be focusing on the fact that it it is for the consumers but for the sole purpose of having profit. It is necessary that an organization must be able to customer oriented in order to succeed with its business, however, if the company will make some deception and false impression about its companies and products hence any strategy will likely not to be a success but a failure.
The last factor is the company itself. There are many aspect of the company itself. This factor must be taken as a whole. According to Marketing mo (2006), stated that in a company every touch with the company’s prospects and customers must be consistent and professional. The company must be seen an effective organization that will be able to strengthen the companies message.
From this statement the author has perceived that the necessity to have a good working condition will enable the marketing strategy of a company prosper. This a matter of looking on the how the people in it cope with the companies rules and regulations. Any unethical matters that are present with the working condition of the company will affect the whole company itself.
An ethical issue on this factor will be the fact that an organization has been providing its employees low amount of salary, poor incentive packages and a working place, which is not conducive. The said factors will bring out a negative effect to the employees hence making the organization a failure, which will make the strategy of an organization not driven to success but a strategy that will pull the whole company.
Though this factor was not mentioned above, it is necessary for this author to include environmental factor. A company on making its marketing strategy must take some issues regarding the environment into consideration. Ethical issues on this factor are numerous. The company must see to it that it make and advertise its products in a manner that will ensure the protection of the environment. If the company is on the destruction of the environment, the company will fail. Hence, in making a strategy an organization must be able to incorporate the fact that it is environmental friendly.
Strategic marketing must be done in order that a company will be effective not only for a short notice but also in the end. The conduct of the business must focus on the consumer welfare taken into consideration matter that will be subject to ethical issues. Ethical issues must not be on the internal factors but also on the external matters.
Internal and external factors are vital to the success of a marketing strategy. It is necessary than an organization must to see to it that it does not only focus on matters that can make its business but also on the fact that it must see to its whether or not its strategy will be an ethical issue or not. Lastly, ethical issues affect the strategic marketing of an organization because it will define how the consumers will perceive an organization.
The following are the recommendation of the author in order to deviate the strategic marketing of a company away from ethical issues that will create a great problem in the end.
A. The company must see to it that it prescribe to laws and regulations of the state to which it is situated. This will ensure that the company will not forget at least basic ethical factors. The laws and regulations will serve as to the proper conduct of the compact.
B. The next is that it makes it strategic marketing “better than before”. This must form part of the norm of the company. In order to establish a more stabilized rate growth, this will be the key to company’s success in the competition field.
C. The last is the fact that it must value its customer, not only as a contributor to its profitability but the fact that it values the needs of the consumers. The basic requirements of the consumers must be in line together with the fact that they fell that the well-taken care.
Bradley, F 2003, Strategic Marketing: In the Customer Driven Organization, Wiley, Hoboken, NJ.
Go, .J 2001, Fundamentals of Marketing, Design Plus, Asia.
Marketing Mo, 2006, The Strategic Marketing Process, Morandi Inc, Arizona.
Proctor, T 2000, Strategic Marketing: An Introduction, Routeledge, London.