MK285 Marketing And Responsibility : Essay Fountain

Question:

What market are you focusing on?

1.Industry:
2.Market:

Remember, this is a market, within an industry…
Remember market is a group of customers within that industry – so segmented by demographics, geography or psychographics.
We have asked you to focus on a specific geographical territory but you might also want to focus on a market within that. So for example

Industry = Breakfast cereals
Market = UK breakfast cereals
Market = UK children’s breakfast cereals or UK ‘healthy’ breakfast cereals.

2.Sources of information for industry and market trends data to demonstrate opportunity for more ethical practice:

Use the reading list – general and topic specific to help with this and also study materials folder for week 3 – the opportunity and also for industry / market trends use the subject guide in the online library.

Use industry association websites / reports / marketing press /trade press / business press / quality consumer press – lots on the reading list!!

 

Answer:

Introduction

The conception regarding the responsibility comes along with the marketing of the product in the marketplace. It is essential to understand by the marketers so that they can expand as well as flourish in the market. The marketers need to take up the responsibility so that false and misleading information regarding the product or the service cannot be circulated (Webster and Lusch 2013). This responsibility should be taken up by every organisation, which will automatically enable the company to flourish in the market as well as assist them in attracting more number of customers from in it. The responsibility and marketing go hand in hand in the market regarding the growth of the company in the long-run (Nicholls, Hair Jr, Ragland and Schimmel 2013).

Focused Market

The company mainly focuses on a market where they can launch their product or service, which is necessary so that they can enter the market along with that they can lure the customers in the process. The focus market mainly remains with an industry. The company needs to flourish in the market if they can focus on a particular market segment. Therefore, the company needs to look after the market so that they can sell their product in it along with that attract the customers towards their product and service. These will automatically enable the company to generate revenue in the process.

Industry

The industry is considered to be the vast segment in which the company operates in a particular market. A specific sector might consist of a different market segment as it is the collection of the same type of products which are there in the various market segment of the industry. The product in the different markets of the same sector may also complement one another. The industry which is being chosen in the report is the cosmetic industry, which is a growing industry all around the world, and the consumers are mainly the females irrespective of the demographic region. The company needs to enter the industry, which is the fastest growing industry all around the world as these will benefit the company to become successful as well as enable them to generate revenue in the process.

 

Market

The market is the part of the industry which is dealing with the specific product or service in the vast industry. The market that is being selected in the process is the perfume market. These market is flourishing all around the world, especially within the female consumers in the market along with the men. These automatically provide the company with an additional benefit to the company to grow as well as to earn profit from the market. The perfume market in the United Kingdom is increasing in recent times. These are essential for the company to grow in the market and to become successful in the process.

Ethical Issues

 Various ethical issues were seen in the cosmetic industry, which needs to be addressed by the company to become successful in the market and to achieve success in the process. These are important for the growth of the company and to lure the customers towards them (Sahota 2014). The issues which can be view in this industry are:

  • Misleading Advertisement: There is a problem regarding the misleading advertisement, which is unethical in the market. The company needs to make an advertisement which provides proper as well as all the necessary details. These will enable the company to grow in the market and to become successful in the process. The company should not mislead the customers in the market as it is essential for the customers to know what they are buying from the company (Turner and Knoepfler 2016). Therefore, the company needs to understand that they should maintain these ethics so that the company should quickly provide support to the customers as well as maintain the goodwill in the market.

Example of Misleading Advertisement

  1. The brand Gucci has taken out advertisement campaign, which mainly focuses on the female section and names the product as “Gucci Guilty.” Here the company have used the feminist approach where they enable the sense in the female that they need to purchase this product to attract the men towards them, which is misleading in the process and should be changed by the company. The company is generating the wrong notion in the minds of the female customers and which is unethical in the process. The company use sex approach to market its product in the marketplace. As per the ASA guidelines, the claim that is being made by the brand is misleading as the males will not get attracted if female use the perfume so it is misleading in that sense and also the company exaggerate about their products capability in the market.
  1. The next brand is Armani, who introduce a perfume for men and name it as “Armani Code.” The company launched the product in the market targeting the men by implementing the pluralism, which enables them to influence the men to buy the product so that they can attract the females towards them. These are misleading in the process as they are controlling the men to purchase the product from the market so that they can gain the attention of the females in the process. The claim that is being made by the company is misleading as they exaggerate about their product as well as the secured false claim that women will get attracted if men use their product, which is wrong to be claimed as per ASA guideline.
  1. The next brand is Dior, which introduce a product named “J’adore Dior.” The company add the product so that they can attract the female section of the society by implementing the feminist in the process by showcasing model Charlize Theron, who looks confident in the advertisement. These will automatically influence the female to purchase the product from the market. The perfume may or may not generate that confidence so it can be considered to be a misleading advertisement in the process and enable them to generate revenue in the process. As per the ASA guideline, the company’s substantiate the objective claim is false as they put the wrong notion that women will feel confident if they use their perfume, which is misleading for the consumer. These need to look after the company.

Conclusion

In the end, it can be concluded that the cosmetic sector uses unethical practices as well as use harmful ingredient. The company wants to add perfume in the market, and for that, the company needs to look into the ethical consideration so that they can grow in the market and can become popular in the process. It is essential for the growth of the company and to gain popularity in the market. Therefore, it can be said that the company needs to address all the issues adequately so that they can become successful in market. the  

 

References

Koskei, B. and Simiyu, C., 2015. Role of interviews, observation, pitfalls and ethical issues in qualitative research methods. Journal of Educational Policy and Entrepreneurial Research, 2(3), pp.108-117.

Lucas, K., Van Wee, B. and Maat, K., 2016. A method to evaluate equitable accessibility: combining ethical theories and accessibility-based approaches. Transportation, 43(3), pp.473-490.

Nicholls, J., Hair Jr, J.F., Ragland, C.B. and Schimmel, K.E., 2013. Ethics, corporate social responsibility, and sustainability education in AACSB undergraduate and graduate marketing curricula: A benchmark study. Journal of Marketing Education, 35(2), pp.129-140.

Pervin, S., Ranchhod, A. and Wilman, M., 2014. Trends in cosmetics purchase: Ethical perceptions of consumers in different cultures. A cross country comparative study between South Asian and Western consumers. Journal of Customer Behaviour, 13(1), pp.57-72.

Sahota, A. ed., 2014. Sustainability: how the cosmetics industry is greening up. West Sussex, UK: Wiley.

Turner, L. and Knoepfler, P., 2016. Selling stem cells in the USA: assessing the direct-to-consumer industry. Cell Stem Cell, 19(2), pp.154-157.

Van Wee, B. and Roeser, S., 2013. Ethical theories and the cost–benefit analysis-based ex ante evaluation of transport policies and plans. Transport reviews, 33(6), pp.743-760.

Webster, F.E. and Lusch, R.F., 2013. Elevating marketing: marketing is dead! Long live marketing!. Journal of the Academy of Marketing Science, 41(4), pp.389-399.

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