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Marketing Ethics - Essay Example
Pages 3 (753 words)
MARKETING ETHICS (Nestle and Artificial Sweeteners) Name of Student (author) Name of University (affiliation) Introduction The globalization trend created tremendous pressure for large firms to do business more competitively; marketing and advertising strategies are constantly reviewed for any changes and revisions that will help a global firm hold on to its market share, expand it, and at the same time, inspire intense consumer loyalty…
Nestle is now the world's largest food company, and followed by Kraft Foods, Unilever, and PepsiCo. These companies follow textbook rules when it comes to marketing strategies, which is usually defined by the so-called 4Ps, which are product, price, place, and promotion. This is the guide to help them develop customer relationship to instill loyalty and prevent product switching. Marketing experts have recently added 3Ps which are process, positioning, and people. Whatever strategies a company uses in its marketing campaigns, the current mantra of the corporate social responsibility (CSR) requires that firms employ honest advertising to manifest good intentions to all stakeholders (stockholders, employees, consumers, regulatory agencies, and host community) because ethical practices are compatible with continued growth and high profits. Advertising and marketing agencies employed by giant food companies have banded to adopt ethical practices among members and clients to foster goodwill, which is truth in advertising. ...
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