Marketing: Economic, Legal, and Ethical Challenges and Strategies

This essay provides a comprehensive overview of marketing's significance in the business world, emphasizing its role in promoting products and services, fostering customer relationships, and driving sales. It delves into the strategic importance of marketing, highlighting its impact on organizational survival and profitability. The essay examines the influence of marketing on societal well-being, focusing on the responsibilities of marketers in safeguarding sustainable practices. Furthermore, it explores various challenges faced by companies, including economic, legal, and ethical issues, using case studies of Nike, Cadbury, and Nestle to illustrate these points. The analysis covers economic problems like competition and price inflation, legal challenges related to safety standards and consumer rights, and ethical dilemmas concerning product promotion and consumer well-being. The essay concludes by underscoring the essential nature of effective marketing strategies for business success, emphasizing the need for marketers to possess in-depth product knowledge and ethical considerations to address the multifaceted challenges in the market.

Running Head: Marketing
Marketing

Marketing
Introduction
Marketing is very necessary for every organization. Without marketing it is very difficult
for the organization to survive in the market. Marketing gives main emphasis on improving the
relationships with the customers in the market. It is a method that is taken into consideration by
every organization to promote its products and services in the market. It is the best technique that
is adopted by the organization so that the product can be promoted in large mass of audience.
Marketing is a type of a strategy that access the needs and wants of the customers. It is necessary
for every type of organization whether large or small (Swain, 2015). By taking into consideration
the marketing strategies it is seen that the sales enhances and also the direct influence is on the
society. Promotion or advertising is very necessary for the product that is launched in the market.
If proper marketing strategy is not adopted by the organization then it can give negative outcome
on the sale of the product. It is seen that people get awareness about the new product by seeing
the advertisements that are given by the company (Solomon, 2014).
Marketing makes a positive contribution by considering the common good and the
marketer’s gives focus on the factors that are related with the society and environment. Marketer
is a person who sells and promotes the products or services in the market (Rivoli, 2014).The
main strategy that is adopted by the marketer is to enhance the sale of the product and also the
profitability of the organization by promoting the products and services in the market. The main
responsibility of the marketer is to safeguard the sustainable and conservative practices.
Marketers promote the product in the market by proper analyzing the requirements of the
consumers. The need of the product is analyzed and then only the promotion strategy is
conducted by the marketers (Babin and Zikmund, 2015). Marketing also gives direct impact on
the goodwill of the company. If effective marketing strategy is adopted then it can be seen that
the goodwill of the company is enhanced. For example: To introduce the product launched by
pizza hut, the company takes into consideration a effective marketing strategy that enhances the
sale of the product. Combos or vouchers are provided to the customers, so that they can taste the
new product that is introduced in the market. By seeing the advertisement the customers are
induced to buy the product (Sheth and Sisodia, 2015).This is the best strategy the organization
can adopt to compete in the market. Before marketing of the product the marketer should analyze

Marketing
that the product that is promoted is according to needs and wants of the consumers. If the
companies don’t consider the marketing strategies then there are various issues that are faced and
also the negative impact is on the sales of the product (Johnson, 2017). Strategies are the
important part of every organization without this it is difficult for the organization to survive for
long time in the market. By proper investigation it is seen that marketing gives positive influence
and the marketers are also serious about the environment stewardship.
Economic issues
Economic problems are faced by the human society and also by the organization. It takes
into consideration the resources that should be allocated so that the provision can be made with
goods and services within the economy. It is seen that the needs and wants of the human are
unlimited but to satisfy the needs it is important to offer products to the consumers so that the
satisfaction level can be maintained. By considering the Nike Company it is seen that the
company faced many issues that are related with the revenue (Sheth and Sisodia, 2015). Due to
increase in the competition level it is analyzed that the market share of the company is divided.
So, the direct impact is given on the revenue of the company. The revenue of the company is
reduced by the enhancement in the level of competition. The negative impact on the company is
due to the increase in the competition level in the market. The customers have a wide range of
product that can be availed easily. So by taking into consideration the high level of competition
the company has given focus on reducing the cost of the product so that the company can easily
attain the goals and objectives of the organization (Schaltegger and Wagner, 2017). To compete
in the market it is very necessary to take into consideration effective marketing strategies so that
the company can easily operate its activities in the market. The company can earn profitability
by competing in the market. The brand portfolio of the company is very large so to maintain it
the company should try to enhance the revenue. Marketing plays a great role to enhance the
activities and also the profitability of the organization. The other economic issue that is taken
into consideration is related with the price inflation. When the price inflation takes place it is
very necessary to adopt effective marketing strategies that help the organization to promote its
product in the market and also that induces customers to buy the product and services (DiStaso
and Bortree, 2014).

Marketing
Strategies that are related with marketing should be given focus by the company so that the
smooth working pattern can be considered. Marketing helps the organization to compete in the
market so that the negative impact can be minimized in a proper manner. At the time of
economic challenge the consumers search for the brands that satisfies the needs and wants. So, at
this time the company should give focus on enhancing the promotional strategies so that the
organization can easily achieve the profitability (Epstein and Buhovac, 2014). If the revenue is
low then it can be very difficult for the organization to survive in the market. It is also seen that
the economy has a drastic change in the sales of the product if proper strategies are adopted by
the organization. Nike has conducted business in various different parts of the world and has
faced various economic troubles.
Legal Issues
Legal issues give direct impact on the working pattern of the organization. If legal issue
arises in the company, then it is seen that the operations of the business get affected and also the
negative impact is given on the goodwill of the organization. In this the legal issue is explained
by taking into consideration the Cadbury Company. It is analyzed that company has to suffer
from various issues that are related with the safety and security standards. It is very important for
all the organization to follow proper legal actions to conduct the activities of the organization. If
the company does not follow the legal actions then the high rate of penalty can be imposed by
the government (Hollensen, 2015). Also the consumer has the right to sue the company if any
fault is analyzed in the products and services that are offered by the company. In this case it is
seen that the company suffers from heavy penalty for not giving clarification to the authorities
related with the food security.
In the chocolate the bacteria was found that has also given negative impact on the
goodwill of the organization. The strict actions are taken by the health protection agency. The
products that are supplied in the market were taken again under the investigation process by the
company, so that it cannot give negative impact on the health of the consumers. The public
complaint about the product and also it has reduced the sale of the product in the market (Telang
and Deshpande, 2016). The problems were also taken into consideration by the health
department, so that corrective decisions can be made. The problem that was found in the

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Cadbury dairy milk has given a serious problem to the health of many customers. So the issue
was raised and the company implemented the proper step to minimize the problem in the market.
After the issue the company adopted effective marketing strategy that enhances the sale of the
product again. So by investigating this case it is analyzed that the image of the product is
recovered again in the market due to the strong marketing strategies that are adopted by the
company. Marketing strategies plays a great role to enhance the growth of the business. If the
marketing strategies that are implemented by the organization is effective enough then the
company can easily attain the goals and objectives of the organization (Mithas, Krishnan and
Fornell, 2013).
Ethical issues
Ethical issues are related with the trust and integrity of the business. The customer takes
into consideration the commitment that is done by the company and also the practices that gives
main focus on the ethical practices. It gives focus that the company should conduct its operations
with the trust and honesty so that the company can work smoothly and can attain the goals and
objectives of the organization. The manager of the organization should make the correct decision
to accomplish the aims and objectives of the company. So the ethical issue of Nestle Company is
discussed. It is seen that the controversy rose between breast feeding and formula feeding and it
has achieved a great attention. Nestle should produce a high quality formula that is beneficial for
the consumers. It is analyzed that the company should also conduct marketing in America and
also in Europe (Menon, Bharadwaj, Adidam and Edison, 2015).The formula should be mix with
the water and it is seen that the water is polluted in poor countries that enhanced the disease in
the vulnerable infants. The entire problem arises just because of the low literacy rate in the
developing nations. It is analyzed that the mothers are not able read the information that is given
on the package. Due to its high price the poor mothers are unable to buy the formula. They use
the formula less so that it can be used for a long time. In this case there are various elements like
there was no picture of infant on labels, no sampling is given and also no point of sale
advertising. To give advertisement is a safeguard that helps to know about the health of
vulnerable children. It will be better if the company takes into consideration own code of conduct
so that it can survive for long term (Rindell,Strandvik and Wilén, 2014). The company should
also give focus on giving training to the marketer so that they can easily tell about the product

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and can reduce the unnecessary deaths. It would be justified if the company give proper
information to the customers and also explain about the pros and corns. The method that can be
used by the company to enhance the goodwill in the market is by taking into consideration
proper understanding of the theories that provide support to the consumers and also tell the
government to provide clean water. The company should enhance the marketing of the product
so that the people who are not educated can learn about the product and also the benefits can be
taken into consideration (Janssens and Kaptein, 2014).
Conclusion
By proper investigation it is seen that marketing is a very essential aspect that should be
considered by every organization so that the goods and services can be promoted in a proper
manner. To reduce the issues that are prevailing in the market it is very essential that the
company adopts effective marketing strategies so that the goals and objectives of the
organization can be attained. The companies that are discussed in this paper are Nike, Cadbury
and nestle. To promote the product the marketer should have proper knowledge about the
product, and then only the pros of the product can be explained to the customers. Marketing not
only make consumers aware about the product but also helps to make accurate decision by taking
into consideration different products. So the trust should be maintained by the company in the
mind of people to attain success in future.

Marketing
References
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issues and main characters. John Wiley & Sons.

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Schaltegger, S. and Wagner, M. eds., 2017. Managing the business case for sustainability: The
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Appendices
(Picture 1: Bacteria found in Cadbury Dairy Milk)
(Picture 2: Logo of Nike)

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