MSU Marketing Ethics & Ethical Codes Current Issues & New Challenges Essay: Marketing Answers 2021

MSU Marketing Ethics & Ethical Codes Current Issues & New Challenges Essay: Marketing Answers 2021

MSU Marketing Ethics & Ethical Codes Current Issues & New Challenges Essay: Marketing Answers 2021

Question Title:

MSU Marketing Ethics & Ethical Codes Current Issues & New Challenges Essay

Full Question:

1) Marketing decisions involve ethical questions along all of the 4 Ps, as illustrated in the video. Marketing managers must weigh the impact of marketing decisions on employees, owners, customers, suppliers and distributors, society, and the environment. True ethical issues are gray areas in terms of right and wrong. This creates problems for marketing managers who must use value judgments to determine the best option. Also, marketing activities have high visibility to consumers who are aware that millions are spent on advertising, store promotions, and event sponsorships. Consumer awareness of marketing spending combined with increased price sensitivity, causes consumers to question the value of marketing.From sexual exploitation in ads to the sale of harmful products like alcohol, tobacco and firearms, 21st century marketers must take great care in determining the ethical issues that impact their brands. Consumer beliefs and attitudes should be monitored and evaluated on a regular basis. Their perception of unethical behavior should be avoided. With the World Wide Web at their fingertips, consumers can easily access or disseminate bad information about brands and the producers who market them. A significant, ongoing ethical issue involves promotional claims. Deceptive health-related claims are a particular problem. They arise from consumers’ desire to live longer and better. As noted in the video, dietary supplements and fast food meals have received harsh criticism from a number of special interest groups. Attempts to promote fried food as “healthy” and offering 1,200-calorie hamburgers loaded with saturated fat are viewed by some as “unconscionable” because they target children. In the face of unfavorable attitudes toward specific foods, some marketers in the food and foodservice industries have resorted to deceptive communications.Because marketing is such a pervasive and visible business activity, it is necessary to understand why organizations ought to act ethically. For example:a. It is the right thing to do. Marketing is consumer-driven and long-term growth and survival means keeping consumer welfare at heart via the marketing concept.b. Personal costs. Managers who make unethical and/or illegal decisions could be held personally liable, reprimanded or fired, fined or even jailed.c. Organizational costs. Ethical transgressions frequently become public and result in reduced sales and loss of goodwill or brand equity. For example, the issue of how chickens are raised and the involvement of PETA (People for the Ethical Treatment of Animals) has created ill-will for KFC. Coca Cola’s tampering with Burger King’s market test of a frozen Coke promotion resulted in a lawsuit and the elimination of frozen Coke in Burger King restaurants. d. Societal costs. Subjecting consumers to dubious marketing practices forces customers to incur unnecessary costs and increases public resentment toward marketers.Sometimes, managers fail to act ethically because they truly cannot identify the right action. There are several complex moral and philosophical theories to aid in ethical decision-making, but here are three simple rules to use when considering the “ethicalness” of possible actions.1. The Golden Rule. Managers should always act in a way that they expect others to act toward them.2. The Professional Ethic. The only actions that should be taken are those which would be viewed as proper by an objective panel of one’s professional colleagues.3. The TV Test. Managers should always ask, “Would I feel comfortable explaining this action on TV to the general public?” The American Marketing Association (AMA) strongly encourages a high ethical posture by all marketing professionals with their Code of Ethics. Many companies have a Code of Ethics. In the case of Eaton Corporation, Deborah Severs, Director—Global Ethics, is responsible for communicating Eaton’s ethical code worldwide and investigating ethical misconduct. Ms. Seversis featured at the end of the video.Assignment
Watch the video Marketing Ethics: Current Issues and New Challenges The post an initial reply responding to the following questions:Link –…What is marketing ethics?Discuss how marketers benefit from ethical codes?How do you feel about the illustrations of ethical dilemmas in the video or from a personal experience? For example, do you believe that fast-food restaurants should eliminate unhealthy food choices from their menus? Do you believe it is wrong to change prices on gasoline from day today? What are the different perspectives on these issues?2) Background:The video for this discussion assignment (see link below) focuses on Taco Bell based in Irvine, CA. As stated in the video, Taco Bell’s menu is “Mexican inspired” which allows some freedom in the development of menu items. Taco Bell is the world leader in the Mexican-style Quick Service restaurant segment.At the time of recording, YUM! Brands, Inc. is growing through acquisition (A&W All-American Food and Long John Silver’s), international expansion, and multibranding expansion. YUM defines multibranding as the strategy of combining two or three restaurant concepts under one roof (e.g., Taco Bell and KFC in one physical facility). Some might prefer to call this strategy “co-branding” since, under some definitions of multibranding (or flanker branding), YUM’s restaurant chains already represent multibranding—offering more than one brand to a market. In Essentials of Marketing, YUM’s multibranding strategy is called the “combined target market approach” since the intent is to attract diner segments with preferences for different foods (e.g., Mexican and Fried Chicken). Assignment:
Watch the video YUM! Brands: Multibranding in the QS Segnwbt of the Restaurant Industry. The post an initial reply responding to the following questions:All of YUM! Brands, Inc. restaurant chains are positioned within the Quick Service segment of the restaurant industry. Do they compete with each other? Why? Why not?What are the advantages of YUM’s multibranding strategy? Disadvantages?What other growth strategies might you recommend to YUM! Brands, Inc.?

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