Marketing has its presence since its ancient ages. Considering right from the ancient Greek ages till our present modern times, marketing has been in the market in one or the other way. It has been present in the market either in the form of trading or selling or communicating. The humans have always tried to outshine others in marketing by applying all the available concepts. Much of the developments and philosophies are borrowed from the Industrial Revolution. In the field of business, after developing suitable products, one needs to have appropriate transportation facilities, technological enhancements and marketing mix elements, so that, the final products can be delivered to the end customers. Marketing helps in competing strongly with the competitors in the market (Anderson, Volker, & Philips, 2008). The basic elements of marketing involve – marketing concept, target audience, tools of marketing, techniques of marketing, marketing mediums and channels, and support service to the end customers.
Organizations need to constantly improve upon the marketing orientation in order to have a sustainable competitive advantage. By driving constant improvement, it promotes a culture of experimentation. Top level management and other functional departments should always try to explore opportunities by improving upon product & service offerings so that they can adapt to the current and future needs of the customers (Velioglu & Argan, 2007). Companies need to invest heavily in marketing research, so that they can respond accurately to the market demands and customer needs.
Under this scenario, all the companies will always focus upon increasing their overall sales in order to improve their bottom-line. They will not consider any ethical approach and hence will even sale expensive products to the economically disadvantaged target groups. The companies are trying to create a brand image, wherein the targeted customers get lured with the attractive features. As a result, in order to fulfill the aspiration needs, people will buy those products. They are not bothered about prices or even the promises made by the companies about those products. This is a hype created through Marketing. It is often called buzz in terms of Marketing. From the ethical perspective, the companies are not following the correct approach and hence, the authoritative agencies should restrict them in some manner. People need to realize the actual facts associated with the marketing of such products (Kotler & Keller, 2012). They should buy only those products that would actually benefit them from their needs perspective.
References
Kotler, P., & Keller, K. (2012). Marketing management. Upper Saddle River, New Jersey: Pearson Prentice Hall.
Anderson, S., Volker, J., & Philips, M. (2008). The forensic marketing case study methods. Advanced Management Journal, 73(1), 4–9, 44.
Velioglu, M.N., & Argan, M.T. (2007). Audience Attitudes towards Product Placement in Movies: A Case from Turkey. Journal of American Academy of Business, Cambridge, 11(1), 161-168.
