Importance of marketing concept and practice

Every practice should have a healthcare marketing strategy in place so you can market your practice better to current and future patients.

Importance of marketing concept and practice

Find schools offering marketing programs That question has never had a satisfactory answer, but in recent years it has become a hot button issue. According to the Bureau of Economic Analysis, corporate profits soared to all time highs in At the same time, the world was suffering through a crippling economic downturn made worse by unscrupulous business practices.

The vast disparity between corporations and their customers has made ethical business practices an extremely relevant issue. Companies realize the importance of acting in more ethical way, and broadcasting this transformation to their customers.

Importance of Marketing Concept and Practice of Marketing Essay – Free Papers and Essays Examples

One of the easiest ways to achieve this is through their marketing practices. If a company makes an effort to advertise more ethically, it reflects positively on every area of that business.

What is Ethical Marketing? Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. It seeks to promote honesty, fairness, and responsibility in all advertising. Principles of Ethical Marketing All marketing communications share the common standard of truth.

Marketing professionals abide by the highest standard of personal ethics. Advertising is clearly distinguished from news and entertainment content. Marketers should be transparent about who they pay to endorse their products. Consumers should be treated fairly based on the nature of the product and the nature of the consumer e.

The privacy of the consumer should never be compromised. Marketers must comply with regulations and standards established by governmental and professional organizations.

Ethics should be discussed openly and honestly during all marketing decisions. There are distinct advantages and disadvantages to ethical marketing. Unethical advertising is often just as effective as it is unethical See also Black Hat Marketing.

And since unethical behavior is not necessarily against the law, there are many companies who use unethical advertising to gain a competitive advantage.

Importance of marketing concept and practice

Many people buy diet pills even though they are rarely, if ever, effective. This is because some diet pill companies use exaggerated and manipulative claims to essentially trick customers into buying these products.

Importance of the Marketing Mix - Sample Essays

If that same company committed to using ethical advertising they would probably go out of business. However sneaky their business model may be, it is not illegal and it is keeping their doors open.

For companies looking to improve the image of a brand and develop long-term relationships with customers, this kind of unethical behavior can quickly lead to failure.

Customers do not want to feel manipulated by the brands they like. Companies can use ethical marketing as a way to develop a sense of trust among their customers.

If a product lives up to the claims made in its advertising, it reflects positively on the entire company. It can make the consumer feel like the company is invested in the quality of the products and the value they provide customers.

Marketing: Why is it Important?

It is impossible to claim that any company is completely ethical or unethical. Ethics resides in a gray area with many fine lines and shifting boundaries. Many companies behave ethically in one aspect of their advertising and unethically in another.

The ad was meant to promote realistic body images and encourage girls to love the way they looked even if they were not supermodels. However, other Dove ads both during and since featured stereotypically beautiful models whose images have been altered to hide imperfections.

Dove marketed ethically in one campaign and unethically in another. This illustrates how difficult it is to do the right thing in all circumstances. What is most important for any company that claims to practice ethical advertising is to make it a fundamental feature of their marketing process.

Every company has the opportunity to engage in ethical marketing. Any business, from the smallest mom and pop store to the biggest multinational corporation can choose to be open, honest, and fair when they advertise to their customers.

When done in a thoughtful way, ethical marketing can be an economical and effective form of advertising. Similarly, unethical advertising doesn't guarantee higher sales or lower advertising costs.

Some companies operate according to lofty personal principles. For these companies, advertising in an ethical way is a natural and necessary extension of their corporate character.Marketing and marketing concepts are different from each other - marketing promotes, while marketing concepts are philosophies determined by a clear objective for an organization's market.

2. The whole marketing concept must be internally coherent and each company will have to develop their individual marketing mix that creates competitive edge (Brassington and Pettitt, ).

Conclusion The four Ps simplifies the complexity of marketing and has become influential in both theory and practice. (Kotler, ) Marketing concept holds that the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently; the company being more effective than competitors in creating, delivering and communicating customer value to its’ selected target customers There are three important dimensions .

Ethical marketing has many advantages, but few companies would undertake an ethical marketing strategy if it reduces profits.

Careful research is the best way to predict the effects of a change in strategy. When an organization practice the marketing concept, all their activities such as research and development, distribution, quality control, finance, manufacturing, selling etc., are focused to satisfy the consumer needs and wants.

Importance of Marketing Concept and Practice of Marketing Orientation specifically for you. for only $/page. Order Now. Marketing concept. This is the belief that satisfying customers can help achieve organizational goals.

It is a management philosophy that seeks to determine and satisfy customers’ needs using integrated marketing.

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