Of Management MET - Bhujbal Knowledge City “ Marketing Innovations and Ethics ”

Due to decrease in purchasing power of a rupee people have begun to loose faith in saving. It has resulted into spending attitude, deriving materialistic pleasure by purchasing and consuming new products. Fierce competition has made everything fair, even if it is unethical. The present paper takes a close look at the various ethical issues involved in Marketing innovations and what organizations are doing unethical practices. The concept of ethics is very vague, abstract and unstructured. There is no universally accepted definition of ethics because ethics is dependent on moral standards. Moral standards are dependent on a value system and value systems are dependent on individual’s background. Hence, the ethical practices of people are different. Marketing innovations strategy play a very important role in launching a new product in the market competition of the competitors, various channels of distribution, customer segment in the market, network strategy of the distribution of the product etc. all these dimensions are required because it can affect to the purchase level of the customer and product share volume in the market. Now we focus on Marketing Mix which includes Mc. Carthy’s & P’s : Product, Price, Promotion & Place, are crucial for the marketing decision making process. These 4 P’s, is an important task for any marketer as they play a crucial role in framing of strategies. Products have an identity and a personality of their own. Products also embody the ethical decisions made at the corporate level. Socially responsive practice may lead companies to design new products which enable them to develop new sources of competitive advantage Most customers have little idea whether a product is fairly priced or not. Unethical practices arise in ‘Place’ when the marketer stops distribution at a particular place because of not yielding profits. Customers who frequently purchase a particular product from that particular place are deprived of getting the product from the desired place. We have seen a plethora of a cricketers occupying news paper and television space probably promoting products they never use or understand. The new competition is and will be increasingly between networks rather than single organizations. Successful executives will be those who can effectively manage a ethical working environment, balance stake holder value and build and maintain their personal expertise. Marketing manager must make every efforts to verify that their choices and action serve the best interest of all related customer, organization & society. Most will need to master new skills to address the emerging challenges. If organization makes the ethical practices, they will stand in the market for years with clear image and brand name but if they can made unethical practices they can no more in the market because acceptance and non acceptance of product is totally in the hands of end-user.