Question

· Do successful business need to be “ethical” businesses?

· Why are there so many laws regulating business behavior in the USA?

· Define “social marketing”.

· Why are “identity theft” and “data privacy” important ethical issues?

· Why do we focus on “perception” more than “reality” in Marketing?

· We use our senses to perceive the world around us. What are the major components of sensation and why are they important? Vision, scent, sound, touch and taste.

· How can touch and smell be used to influence a consumer/decision maker?

· What are the stages of “perception”?

· What does “JND” stand for and why is it important?

· What is “semiotics” and how is it used on “positioning” of your product/service?

Answer 1

Answering first four questions as per Chegg guidelines.

Do successful businesses need to be “ethical” businesses?

Businesses irrespective of its status, type, size, location etc must be ethical. Ethics in business does not depend on whether business is a success of failure. Ethics relate to all firms and all businesses should be ethical. Successful businesses have additional responsibility of being ethical because they are considered as models in the industry. Therefore, successful businesses must be highly ethical in their decisions.

Why are there so many laws regulating business behavior in the USA?

USA is a large country; highly industrialised and developed. Many businesses operate in USA and many headquarters of world’s biggest businesses are located in USA. In view of these characteristics, the onus lies on government in making business ethical. Therefore, there are many laws that regulate business.

Define “social marketing”.

Social marketing is the marketing concept that advocates marketing decisions to be based not only on consumer needs but also on long term societal needs. Societal marketing calls for marketers to consider environment in their marketing decisions.

Why are “identity theft” and “data privacy” important ethical issues?

Data is key for many business processes. Marketing decisions are based mostly on consumer data. Stealing this data amounts to encroaching privacy of consumers which is a concern for all stakeholders. Data privacy is stealing information of consumer data that may be personal. Therefore, these issues are important ethical issues.