Principles and Practices of Marketing

1.Impact on individual consumers-this arises due to;

  • High prices due to;high costs of distribution,high advertisement and promotion costs and excessive markups.
  • Deceptive practices;ie deceptive pricing,deceptive promotion and deceptive packaging.
  • High pressure selling tactics being adopted by companies.
  • Shoddy/unsafe products being offered.
  • Offering products with planned obsolescence.
  • Poor services to the disadvantaged consumers ie left handed and those on wheel chairs.

2.Impact on society as a whole-this is mainly encountered in this areas.

  • False wants and too much materialism.
  • Too few social goods such as sewerage services which are rarely marketed.
  • Cultural pollution-some adverts erode the norms taboos and values of customers.

Too much political power.

3.Impact on other businesses-

  • Acquisition of competitors.
  • Marketing practices that create barriers to entry
  • Unfair competitive marketing practices.

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