Yesterday, in my lecture of Marketing Management my faculty was elaborating what exactly Marketing is all about. As it was only second lecture of ours of the curriculum of MBA program. He was sharing his personal experience of the days when he was a Sales Exec. of an electronic store. He elaborated that how he convinced a customer to buy product ‘X’ on one day, and convinced the same guy to buy product ‘Y’ on the next day. Of course, he could not recognize the customer. But unfortunately, customer recognized him and asked to tell him the truth. Consequently, he told the truth. But than he warned us, that good old days are gone. You cannot be moral any more. In this cutthroat competitive world, if one needs to survive, than he/she has to become cunning. He also said, “gone are the days of ethics and morality in the field of Marketing.”
If you ask me, I would say, “gone are the days of marketing without ethics and morality.” That’s what I feel. We can see all around, how brands are doing Social Marketing and making people aware about the reality of their products. In this information driven, highly skeptical world, every one is aware about the gimmicks companies are doing. And if they aren’t aware about it in present, they will find it soon, anyway.
Nowadays, it is very important to win the trust of the customers. Everyone out there knows that the company is marketing their product and persuading the audiences to buy it. They know that companies advertise to make us buy what they are providing. Therefore, consumer isn’t much concerned about how much your company is spending on advertising and which celebrity have you signed as your brand ambassador. I’m not saying that it is completely irrelevant which celebrity you have signed. But, my point is it will be completely irrelevant if you won’t be able to stand on your claims and integrity. And if you want to have an edge against your competitors, you have to play some tactics.
It promotes qualitative benefits to its customers, which other similar companies, products or services fail to recognise. The concern with ethical issues, such as child labor, working conditions, relationships with third world countries and environmental problems, has changed the attitude of the Western World towards a more socially responsible way of thinking. This has influenced companies and their response is to market their products in a more socially responsible way.