List out all the factors considered and the decisions made in the process of marketing
There are many factors which should be considered in the process of marketing. The primary attention of the marketing managers is drawn to the product description, channels of distribution, promotion and prices. Product description decisions are further classified into types of products, processing of products, qualities and certification and packaging. According to the article “Analysis of Main Marketing Factors”, the product-related decisions are the most important ones as the marketed products must be demanded by consumers in the first place. If product quality is not satisfactory, even the most expensive advertising will not ensure long-term product loyalty. The second decision factor is the choice of channel of marketing and delivery. Products can be distributed in a wide range of markets, locations, and retail outlets. The failure to make well-reasoned decision about channel may result in a situation when potential customers have no access to the products. Decisions related to the channel of delivery include routes, storage as well as transportation. Promotion decisions affect the customers’ preferences. Inadequate attention paid to promotion may lead to significant loss of profit as potential customers are either not sufficiently informed about the product or not aware of the specific product’s advantages. Finally, factors affecting the price decisions include analysis of the potential buyers, their income level and buying capacity.
Summarize the three issues pertaining to marketing ethically
The first issue pertaining to marketing ethically occurs at the stage of market research and includes two concerns: invasion of privacy and stereotyping. For example, stereotyping occurs when the analysis of customers’ needs results in approximations and generalizations (it may lead to the disrespectful attitude towards specific groups of society). Companies must assure their marketing does not discriminate against the vulnerable people. Secondly, marketing ethically requires ethical danger points of targeting the vulnerable and excluding potential customers from the market. For example, marking to children and the elderly is unethical marketing (Kandy 2004). Selective marketing or unethical market exclusion include negative attitudes to the minorities, the gay or obese target markets. In other words, it is absolutely unethical to target minorities or exclude specific groups from marketing. Thirdly, ethical pitfalls in promoting often include lack of truth and honesty (tobacco advertisers fail to tell the truth), violence and sex, offense (controversial attitude towards specific products such as condoms or feminine hygiene products), and negative advertising (highlighting the disadvantages of products sold by advertisers).
Explain the contractual standards to product safety
Product safety is a public regulation of safety in contrast to product liability. Product safety law is usually monitored by public authorities. Depending on the nature of the product, different public authorities can be involved. The contractual standards to product safety require proving safety of the product before the damage has occurred. Furthermore, the public should be warned about the unsafe products by the consumer organizations as well as public authorities. When there is a risk of physical injury, in particular, the danger should be eliminated as fast as possible. In addition, contractual standards to product safety require speedy solution to the issues rather than entry into negotiations. Nevertheless, when the product safety issues result in product liability for physical injuries, long procedures are necessary to assess the safety of the product.
References
- “Analysis of Main Marketing Factors”. Corporate Document Repository.
- Kandy, J. (2004). Is marketing evil? King Marketing Press.