Reply To 2 Student Initial Discussion Post Business And Finance Homework Help

ASSIGNMENT:

Learning Objective: Describe the role of ethics in the business environment.

Prompt:

Did you know marketing was more than just advertising? Now that you watched the video, what role does marketing play in the success of the organization? Can marketing influence consumers’ decisions? If so, is marketing ethical?

STUDENT 1: SCOTT

Before finishing the readings for the week I held the view that marketing was primarily related to advertising. Marketing is much more than just advertising, which is why it plays such an important role in the success of an organization. Like Joy Gendusa (2013), the CEO of Postcard mania said in the video, marketing is “pricing, distributing, promoting, incentivizing, and branding” to name a few. In order to be successful, businesses should be as creative as possible when focusing on all of these dimensions.

Take pricing for example. Prices of products could affect how people perceive the product. This could directly result in more or less people actually buying that product. Especially if one considers the difference between developed countries and less-developed countries. For example, the differences in exchange rates and levels of income in the particular country could price them in or out of a particular product (McCubbrey, 2009, p. 147). Or pricing could affect how the local people perceive whether or not the good high quality compared to a similar product that is less expensive (McCubbrey, 2009, p. 147). These are just a few examples of how marketing affects the success of the business.

As seen in the above examples, marketing does affect consumers’ decisions. Another example of how it affects decisions would be aesthetics. Some cultures perceive value in different things. Baisya (2014) rightly points out that mankind created “tools” or products to be used for work or pleasure. Once these tools gained a greater position of importance in the mind of man they were customized to the particular liking of the individual or group becoming considered a valued “possession”. That possession then became more and more varied in order to portray the particular beauty that the individual or the group came to value most (Baisya, 2014). Understanding what different market segments consider beautiful or valuable can steer a business towards an aesthetic for their product that will have a greater degree of success within that market. In my opinion, marketing in this case would not be unethical.

However, there could be cases where marketing could be unethical. Take for example, the marketing campaigns that tobacco companies have been punished for in the past (Tobacco settlement Agreements, n.d.). Tobacco companies would target young people with colors and language that seemed cool to them in order to get them to try smoking. They would also try to attempt to minimize the negative health effects that tobacco has. To me, it is these kinds of marketing strategies that are unethical.

Thanks for reading,

Scott Archer

References

Baisya, R. K. (2014). Future of aesthetics in marketing. Review of Management, 4(1), 53-56. Retrieved from https://search-proquest-com.ezproxy2.apus.edu/docv…

Gendusa, J. (2013). The difference between marketing and advertising: what is marketing?. Retrieved from

McCubbrey, D. J. (2009). Business fundamentals. Retrieved from http://textbookequity.org/Textbooks/McCubbrey_BusinessFundamentals.pdf

Tobacco Settlement Agreements. (n.d.). Retrieved June 26, 2017 from Philip Morris’ website: http://www.altria.com/our-companies/philipmorrisusa/tobacco-settlement-agreements/Pages/default.aspx?src=leftnav

STUDENT 2: BEN

Let me first start by stating what ethics is. Ethics is basically our morals or values that help control our behavior and help us make decisions. The role it plays in business (or should play) is that it’s almost like a guide to how the business should work. That could mean how professional someone acts and deciding between the right or wrong choice and picking the right one. Business ethics is very important and in my opinion is the foundation on which the business stands.

Marketing is very important for a lot of businesses because otherwise they wont get the word out about the business. As the video stated word of mouth doesn’t always work anymore with our economy, so almost all businesses need to market their products to get customers. So in my opinion marketing plays a huge role in businesses and can sometimes be what makes or breaks a business.

Customers are definitely influenced by marketing tactics, sometimes without realizing it at all. For example food and snack companies know customers are more receptive to their products when they’re hungry, so they schedule their advertisements for later in the afternoon. You know, snack time! Another marketing tactic is called social marketing, where they get ideas to customers rather than trying to sell them something. This allows the customer to think it was his or her idea to purchase the good or service. I think marketing can be ethical and unethical depending on the strategy and whats said. It all depends on the company and what they say. If they are honest about their product and what it does, then yes I think that is completely ethical. Companies have to market if they didn’t no one would know about them. However, if they lie and say the product does something it can’t or is simply better than it is, I don’t find that ethical. All companies and marketing can be ethical if they choose to be.

References:

Perner, Lars. Ph.D. (2017). “Consumer Behavior: The Psychology of Marketing”. https://www.consumerpsychology.com

Ben

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