Adms 2200 Mid-Term Exam Prep

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Ethical marketing refers to the application of marketing ethics into the marketing process. Ethical marketing is about making marketing decisions that are morally right. The ethics of the marketing decision can incorporate any part of marketing including sourcing of raw materials, staff employment and product advertising and pricing. Sound marketing ethics are usually those that result in consumer satisfaction, with no negative effect, with the goods and services being recognized or with the company producing them. Ethical marketing generally results in a more socially responsible and culturally thoughtful business community. The concern with ethical issues has changed the attitude of the world towards a more socially responsible way of thinking. This has influenced companies to market their products in a more socially responsible way.

Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.

Marketing – is the process in which the producers of goods and services focus on satisfying the needs of the consumers. Also marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

Marketing is the all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time. It is the action or business of promoting and selling products or services, including market research and advertising. Arby’s, for example, has changed in a revolutionary way. Their marketing strategy has changed which impacted the human resource management department and the financial structure of the business.

Out of these concepts I found the way to avoid making ethical lapses in marketing and sales message was the most important due to ethics is a not just a big part of in business messages but in all professional

Marketing is the activity and process for creating, communicating, delivering, and exchange a product or service; which has values for the customers/clients. Overall it is an integrated process which builds customer relationship and creates an identity for their customers and themselves.

Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2012)

Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

After defining ethics, the authors go further and continue with the normative theories to explain how ethics is evaluated. Cavangh et al who is referenced, describe the theories of ethics into three categories: Utilitarian theories, theories of rights, and theories of justice. Utilitarian is based in terms of their consequences; theories of rights that emphasizes the entitlements of an individual, and finally justice, which is the distributional effect of actions. With the theories, the authors use them to analyze the literature surrounding ethics in marketing: Ethical codes, Normative ethical decision models, articles related to a specific area of marketing, and articles on ethical abuses in marketing. Companies institutionalize ethics in order to save the business’s integrity. “Code of conduct is one of the most pervasive responses used by the business community as a way to improve ethical conduct. In the last decade, most major corporations have introduced some form of written code of ethics (Lewin, 1983).” (Fritzche and Tsalikis, 701). Having an ethical code also allows companies to obtain the freedom they need in order to have a free market system without government involvement. Next, Normative ethical decision models shows the concept of ethics discussed earlier into actual decision-making. The normative model integrates the three

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

Sales ethics in business refers to the use of a professional approach to customers, members of the regulatory bodies, colleagues, and competitors. Sales team is faced with a variety of situations that require the application of ethical practices. Some examples include a customer asking for information about one of their competitors who happens to be their customer, a customer asking for something special that a salesperson is not allowed to give away, and deciding on how much to spend on holiday gifts for clients. While making decisions to apply in the different situations, a salesperson will be required to have respectful interactions, nondiscriminatory behavior, and consideration of cultural diversity. The ethical behavior of a salesperson will also be significantly affected by the ethics of a sales manager (Cadogan, Lee, Tarkiainen, and Sundqvist 913). Sales ethics can be divided into good and bad ethical sales practices.

The importance of ethics in marketing is growing. Recognition and respect for ethics, covering a wide range of issues can be used as USP (unique selling point) for a company. Each society will have it own unwritten code of behavior. However view of matter will change over time. Due to this societal marketing concept has emerged which requires that marketer adhere to socially responsible and ethical practices in the marketing of their goods and products. Below is the definition of ethics.

Businesses have been relatively passive in investigate their in marketing ethics and are still operating according to traditional business models and process that do not reflect consumer interests and ethical implications of their activity often continue afterthought and are yet to be thoroughly incorporated into management decision-making. The contingency framework can accelerate this pre-emptive approach to ethical decision-making. To embed ethics into firms planning and strategy formulation process , marketers should learn from consumers ethical evaluation of their marketing techniques (Smith and Cooper-Martin 1997). An “ethical execution of the marketing program. In addition to financial , market, and competitive objectives, marketers should include consumer concerns and ethical integrity as important criteria for management decision making . Furthermore, ethics must be matched throughout the marketing planning process from product development, market selection , advertising and promotion execution.

Marketing is the organization of the sale of a product, deciding on its price. And Marketing also is a process of commercial. The commercial processes involved in promoting and selling and distributing a product or service.