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Ethics in Marketing Research

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  • "Ethics in Marketing ResearchMarketing research and targeted advertising are widely used techniques to establish aconnection between products and consumers. Information obtained through marketing researchcan offer a competitive advantage for a compan..

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  • "Ethics in Marketing ResearchMarketing research and targeted advertising are widely used techniques to establish aconnection between products and consumers. Information obtained through marketing researchcan offer a competitive advantage for a company by implementing practices discovered to beimportant to existing and potential customers (Shields, 2011). When consumer expectations aredefined, a targeted advertising campaign can be directed toward individuals who are likely tobuy the product or service being offered. Because the research and advertising processes involvepersonal investigation and communication, ethical issues often become a factor. Informationgathered can be used to assist with defining various marketing opportunities, evaluating the flowof market actions, and monitoring the status of market performance by establishing a connectionbetween the marketer and the public. Marketing research is a systemic process used to gatherdata that enable an organization to address existing or potential problems within their business oridentify potential customers. Quality marketing research will provide accurate information thatreflects current situations and is honest, accurate, and necessary (Shields, 2011).The value of honesty emphasizes the importance of being truthful in every aspect ofmarketing. Professionals in this field should strive to be honest and upfront with stakeholders.Any promises that are made should be kept. All products that are offered should be of value, andany problems that are encountered should be corrected. Responsibility is the ethical value thatrequires individuals to accept the consequences of their marketing strategies (Shields, 2011).Being able to recognize the vulnerable market segments and honoring commitments to thesespecial groups is expected. Making a concerted effort to meet the needs of the customers alsofalls under the responsibility section. The ethical value of fairness includes balancing the interests of the buyer and seller. Protecting customer trust by avoiding manipulative behavior,price fixing, and conflicts of interest are key elements of fairness.The value of respect requiresthe ability to recognize differences and treat everyone with dignity. Listening to stakeholders andunderstanding specific requests contribute to increased and ongoing satisfaction. Respect alsoinvolves the ability to acknowledge outside contributors to the marketing efforts. The ethicalvalue of honesty requires truth in all aspects of marketing (as cited in Shields, 2011).Themarketing profession has long recognized the need to uphold its integrity, honor, and dignity,and a large part of this obligation is to treat customers fairly and honestly.Use of Big Data in Marketing ResearchBig data will change market research at its core in the long term. While other trends suchas neuromarketing have not been able to gain a foothold, big data business models will assume acentral role in the value chain (Bosch, 2016). The consumption of products and media can belogged electronically more and more, making it measurable on a large scale. In some areas ofmarket research, big data is already established today, with social media analytics and the use ofcookie data to measure internet coverage being two prominent examples. The use of panels forthe passive measurement of media consumption through the internet, television, and radio alsofalls under big data (Bosch, 2016).As the trend of collecting and using big data has increased in the age of the Web 2.0 orthe Internet of Things, the question must be asked iftwice as much data is actually worth twiceas much. Companies expend resources, both monetary and human capital, to process big data. Is there a possibility that the costs of processing and using the data ethically outweigh its benefits?There are many research opportunities to appraise the benefit of big data for organizations.Social Media in Relationship MarketingThe central purpose of relationship marketing is retaining customers through long-term mutualsatisfaction between businesses and customers.Businesses, in order to retain customers byestablishing, maintaining, and enhancing relationships, need to communicate and engage indialogue with their customers.Through dialogue and communication, the two parties will have achance to engage in the process of reasoning together and to develop a common knowledge thatin the end enables businesses to understand customers’ needs, to deliver a co-created product, tobuild long-term relationships, and eventually to secure a long-term profit (Abeza, 2012). In orderto interact and listen to customers’ needs in an on-going basis, businesses are required to employeffective communication platforms. Social media (Web 2.0) technologies are becoming idealtools for a two-way continuing dialogue (Abeza, 2012).Abeza’s study (2012), sought out to gain a better understanding of how managers inorganizations, specifically sports, perceive the opportunities and challenges of social media inmeeting relationship-marketing goals. According to Abeza, the subject is new and advancingrapidly creating an opportunity for academic research. "

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