Marketing Essay

841 words - 3 pages

Jay RichesIntroduction:Marketing is a method of planning and performing for promotion, pricing and distribution to create value for customers, clients, partners and society overall. There is a common confusion between selling and marketing; selling is just getting rid of existing stock whereas marketing involves bringing the buyer and seller together to make a sale. (Devenish, 2011)https://www.kbresearch.com/concept-files/marketing-mix2.pngI agree with the statement, businesses do have a responsibility to be honest and ethical in their promotions. Those businesses who are driven by the bottom line only run the risk of damaging their reputation and long term market share. Some of the ethical issues of marketing are targeting vulnerable audiences, stereotyping, subliminal messages and distorting the truth.Body of Report:Good Marketing is essential for a business to thrive. In the absence of marketing, a business it may have the best products or services but is unable to educate customers to it, which can lead to low sales and ultimate failure. For businesses to succeed, they need to get their product or service known in the market place. By using marketing, businesses can promote their product or service and have a higher chance of being discovered by prospective customers. Once that business has those potential customers as valid ones then the word can spread through family or social media and as the word increases so will the sales, and without sales a company cannot succeed. (Lorette, 2014)The ACCC is a government body whose role is to make markets work for consumers, now and in the future. Their role is to protect, strengthen and supplement the way that competition in Australian markets work. They attempt to improve the efficiency of the economy and to increase the welfare of Australians. Their properties are reflected in their four key goals: "maintain and promote competition and remedy market failure, protect the interests and safety of consumers and support fair trading in markets,, promote the economically efficient operation of, use of and investment in monopoly infrastructure, increase our engagement with the broad range of groups affected by what we do." (ACCC, 2014).Ethics are about what you believe is morally wrong and right, whereas law is about what is legal and illegal. For example Invasion of privacy is considered unethical. An example of unethical marketing is invasion of privacy into consumer's lives or stereotyping with racism or potentially offending acts. In 2009 Coca-Cola released an advert with the actor Kerry Armstrong publishing false advertisements of their product. There was an attempt using Kerry to convince parents at home that the popular beverage was "kiddy-safe", the misleading info that was published were; that coca cola did not make children fat, did not rot their teeth and was not packed with large amounts of caffeine. The ACCC (Australian Competition and Consumer Commission) intervened when it received...

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