We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Marketing Planning - Essay Example

Free
Ethical Marketing Issues with British Petroleum Ethical Marketing with 7 Ps of Marketing Mix The concept of ethical marketing has been defined as an approach to marketing which sets up high ethical standards and they are positively communicated (Lake, 2009). Beamish and Ashford (2007) suggest that should a company be serious about acting responsibly at ethical and social level, then it is highly imperative that there may be the marketing mix adoption. Some examples of ethical marketing include that product should meet safety standards and dangerous products should be removed (Beamish and Ashford, 2007 p.20). Promotion should be transparent and clear and it should be ethical in practice. For place, environmental issues and transportation concerns are considered (Beamish and Ashford, 2007 p. 21). Organization British Petroleum (BP) is an oil and gas company who is involved in finding, extracting oil and gas. Besides making fuels and products, BP sells fuels and fuel products in a number of countries. The strength and spread of BP can be understood from the fact that it employs 83,400 employees as at 31 December 2011 (British Petroleum, 2012). Ethical Issues The BP’s Baku-Tbilisi-Ceyhan (BTC) oil and gas pipeline project did not give sufficient compensation to Azeri, Georgian and Kurdish local people who were affected by the project and while promoting the BTC project, the BP did not clearly inform to the International Finance Corporation (IFC) (Hopkins, 2012). Many NGOs accused BP of violating

Check these samples - they also fit your topic

Marketing Planning
in Marketing Planning (LO 1.1) The marketing planning techniques are subjected to modifications and changes subject to alterations in the external environment of the concern. Thus the marketing planning activities are required to follow a proper networking approach to be sustainable for the future.
6 pages (1500 words)Essay
Marketing Planning
Low Support from Top It has been widely known that the strategy of any plan is designed with the support from the top management. The lack support from the chief executive officer, managing director as well as board of directors can essentially become a barrier to the implementation of the marketing planning process (Meldrum & McDonald, 2007, p.
10 pages (2500 words)Essay
Marketing Planning
Although I had all crucial information about the company to develop marketing tactics, marketing budget and creating implementation and control guidelines yet I went through all the research work done earlier so that crucial inputs could be further taken and included while writing content on marketing tactics.
11 pages (2750 words)Essay
Marketing planning
Marketing audit undergoes three main processes. These are as follows: a) Setting the scope and objective – first, an auditor in collaboration with the company’s officers has to assess the nature of marketing operations and determine the value of the marketing audit.
11 pages (2750 words)Essay
Marketing Planning
In marketing planning, there is a deployment of interrelated phases, one after the other that are in line with the accomplishment as well as use of the product in question (Hata, et al., 2000, pp.34-39). This process begins from the point where the raw materials of such a product are acquired for the manufacturing process up to the level where finished goods are output from the system into the market as well as the phase that marks post utilization process.
6 pages (1500 words)Essay
Marketing Planning
Therefore, this bank is highly influential and occupies an important position in international financial decision making process. At present, the bank serves approximately 58 million customers through its operations in more than 81 countries in all the continents.
20 pages (5000 words)Essay
Marketing planning
The marketing planning process usually results into marketing strategies which are then used to increase the overall sales of the business. A marketing plan encompasses market specific, product specific and company-wide plans and highlights objectives of these respective areas and simultaneously mentions the plan about how to fulfil and achieve these objectives within a given time frame.
10 pages (2500 words)Essay
Marketing Planning
A sound marketing plan is a key component of the success of one’s business that includes market research, location, the customer group to be targeted, competition, positioning, the product or service to be sold, pricing,
4 pages (1000 words)Essay
MARKETING PLANNING
A number of things are considered so as to get a better understanding and see a potential future of the product in question. The most important of
4 pages (1000 words)Essay
Marketing planning
Creative and constructive suggestions on how a company can overcome these barriers have been suggested. The third part of the report explains creatively and in detail the need for companies to be innovative in
11 pages (2750 words)Essay
dozens of the principles including human rights, ethical, environmental and legal standards. BP did not give adequate compensation to the local people. As a result, it was considered to be a socially and ethically irresponsible act on the part of BP. As the BTC project was going to directly affect the local people of these regions, BP should have considered them while acting upon seven Ps of marketing mix. Moreover, BP did not act ethically while promoting the project with the financiers and other regulatory bodies instead BP misled them. It was the consequence of unethical marketing practices that led to hearings by a special committee in the UK parliament on the issues of the BTC funding (Hopkins, 2012). As a result, BP’s Ethics and Compliance team developed and organized the creation, publication and distribution of code of conduct in 2005 (Ferrell and Hartline, 2005 p. 556). Also, the BTC project utilized IFC’s public consultation Good Practice Manual (IFC, 2012). Both steps were taken and incorporated into the marketing strategy by BP. Research Method The secondary research method was employed to complete the paper requirements. First, the concept of ethical marketing was researched through online and offline sources. A particular focus was given on the 7 Ps of marketing mix. After completing research on marketing mix, the researcher used British Petroleum and its unethical marketing practices related to marketing mix. For this information, the researcher went through different sources to understand the ethical marketing issues faced by BP. Reasons for Selecting the Ethical Issue The highlighted ethical issue affects almost everyone. The unclear BTC project description and its legal, ethical and environmental issues were not only taking away the rights of the local people, but they were also harming the physical environment. Reflective Review General Overview Business and marketing ethics have obtained a central importance in the corporate world. Many events have indicated that unethical marketing have very severe repercussions not only for the marketers but also for the customers. For example, if a company sells a product more than its standard market price, this act is not only unethical but it has long term business ramifications. The customers, who purchased the product from the company, may decide to avoid purchasing from the company as it does not apply standard market price. As a result, the company will continue losing its customers if it continues to sell the product more than the standard selling price. Research Method The secondary research method has many limitations. The researcher is required to rely on the pre-existing information and the chances of bias cannot be ruled out as many companies prefer to use display their positive image instead of real image. The preference should be given to primary research which gives first hand information. Ethical Marketing- Reflection Ethical marketing brings durability in the customer-business relationship. The customers know that the company is charging a standard selling price and strictly follows the norms of ethical marketing. Future of Ethical Marketing The future of ethical marketing is promising. The recent trend indicates that marketing ethics are spreading globally. Customers, suppliers, producers and manufacturers are realizing that their individual stakes can only be served when the ethics are applied to the marketing activity. References Beamish, K, Ashford, R 2007, Marketing Planning, Butterworth-Heinemann, Oxford British Petroleum, 2012, BP at a glance, British Petroleum, viewed 3 July, 2012 Ferrell, OC, Hartline, MD 2005, Marketing Strategy,5th edn, South-Western Cengage, Ohio. Hopkins, M, 2012. Corporate Social Responsibility and International Development: Is Business the Solution? Earthscan, London IFC, 2012, Environmental and Social Issues, International Finance Corporation, viewed 3 July, 2012 Lake, LA 2009, Consumer Behavior for Dummies, Wiley, Indiana

Summary

Ethical Marketing Issues with British Petroleum Ethical Marketing with 7 Ps of Marketing Mix The concept of ethical marketing has been defined as an approach to marketing which sets up high ethical standards and they are positively communicated (Lake, 2009)…
Author : cornell11
Download 1
Marketing Planning
Read TextPreview
Comments (0)
Click to create a comment
Let us find you another Essay on topic Marketing Planning for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us