Social legal and ethical issues in marketing

Social, Ethical And Legal Implications

Assignment Content
Purpose of Assignment
The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.

Assignment Steps
Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.

Resources: Marketing Plan and Outline

Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.

Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.

Include the following:
Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).
Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:
Required executive summary elements:
Strategic Objectives
Products or Services
Optional executive summary elements:
Resources Needed
Projected Outcomes
Integrate the previous weeks' sections, and incorporate corrections and suggestions from the instructor's weekly feedback. The marketing plan should contain elements from each week of the course, including:

Understanding Target Markets (Week 2)
Promotion and the Product Life Cycle (Week 3)
Price and Channel Strategy (Week 4)
Marketing Communication and Brand Strategy (Week 5)
Executive Summary, Legal, Social and Ethical Considerations (Week 6)
Format your assignment according to APA guidelines.

Submit your assignment.

Grading Guide: Social, Ethical and Legal Implications Grading Guide

Resources:
Center for Writing Excellence
Reference and Citation Generator
Grammar and Writing Guides

Promotion and the Product Life Cycle

Apple has established a useful technique for marketing and implementing its product life cycle for its mobile merchandise. I have developed a substitute product strategy for the induction of the anticipated new service — the standard product of new product introduction, development, maturity, and stages of decline. Currently, Apple presents its new merchandise at an occasion and grants all the information about the prices along with release dates in the event. Besides, the products are typically accessible for presale shortly afterward. The partners commence marketing after the Apple event. Comment by T: This does not make sense. The product life cycle is the cycle a product moves through from introduction to decline. It is not a technique for marketing.

Product Strategy

Apple has created a brand, which is a leader in the technology industry, and it is effectual to develop when it is at the forefront of the competition. Additionally, this is the reason the organization ought to remain inventive. There is not much marketing about the Apple event happening, and people usually receive little to no information warning before any announcement being made. The new strategy will market and promote the is a new product and provide information on the dates of the event earlier. There will be printed physical materials for positioning in storerooms and streets with simple messaging about the event. Also, there will use social media to promote the event as well as products with similar messaging. Comment by T: wording

The emphasis will be to form expectancy about the release of the new product. A press conference is held with a formal statement and an e-mail flashes with details about the newly released product. Also, Facebook Live will be utilized to stream the statement, and other sites of social media will also be used to program the specifics. Live-tweeting will occur during the event on Instagram and Twitter, which can be found on the official page of Apple, which will have all the details of the product.

After the introduction of the new product, the development stage of the product strategy starts; This is the main stage for creating a position of a product in the market, enhancing the profit margins, and increasing sales (Growth, 2018). The organization will take on this stage by getting feedback from early clients and airing that feedback across e-mail blasts and social media, and This will produce promotion material for in-store demonstrations; That will comprise of flyers, display cutouts, and posters to hand out to prospective customers. Also, the organization will run a different pricing event in this period. The early adopters are prepared to recompense a premium fee for having the product earlier than expected; Apple will be able to get extra users by providing lower prices after the growth stage has reached. This will similarly assist in combating an augmented competition, which indeed transpires when new product unveilings. Comment by T: starts.

There are no propositions on how Apple administers the maturity stage of the lifecycle of the product. Nevertheless, in the declining stage, I am suggesting for specific strategic changes. Throughout the decline stage, industries detect that sales start to decrease for a service or product -- that might have once been famous – because of low demand (Brookins, 2016) The suggested plan involves three steps. The initial step is decreasing the price to a rate of clearance. The pricing ought to not come at a loss to the organization. The second stage is to market tactically to a precise target group of clients in a method that does not have lots of financial problems. Lastly, adding extra features to the product to refresh the request for it.

Measuring Success or Failure

Success in every stage will be measured in a different way and with various metrics. In the introduction of the new product, the organization will concentrate on the numbers of presales as well as the early return from customers who are early adopters. Besides, this will enable the organization to distinguish how useful buildup promotion was and how striking the product is. In the stage of growth, the organization will amount to success from the feedback and surveys gotten from customers. The positive word of mouth will boost the growth to be higher and maintain the positive drift the Apple firm has with recognition of brand recognition. In the decline stage, the organization will concentrate on the volume of catalog moved, the margin of the profits will not be very high due to reduced pricing, but the advantage of moving the catalog will be two-fold. Apple will remain to capture the share of the market, and it will open room for added catalog after the releases of the next products.

Conclusion

Apple has been a steady influence in the market of mobile devices, and the shreds of evidence are in the income. Through executing the plan of the product life cycle above, the Apple organization has the chance to remain in the lead spot of the business and increase the distance further with its rivals.

References

Brookins, Miranda. "How to Maintain a Strategy in the Decline Stage." Small Business - Chron.com, Chron.com, October 26, 2016, smallbusiness.chron.com/maintain-strategy-decline-stage-26080.html.

“Growth.” Product Life Cycle Stages, productlifecyclestages.com/product-life-cycle-stages/growth/.

Content

Potential Percent

Actual Percent

Comments:

Student’s product strategy addresses at least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).

25

25

Three stages of the product life cycle were reviewed as it relates to Apple

Student’s product strategy addresses how he/she will measure (what metrics will be used to determine success or failure) the marketing activities.

10

10

Success will be measured by the number of pre-sales, feedback from customers, and volume of sales.

Student’s product strategy includes the creation of at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights his/her product. Student has 2-3 sentences about each media method (i.e. one paragraph of what he/she would do, not how to do it). Student does not use the Facebook example provided here:

20

20

Two media methods are discussed; direct mail and social media

· Product and Promotion:

o Integrated Marketing Communication

o Advertising Strategy/Objectives

x

o Push and Pull

o Media Strategy

o Advertising Execution

o Direct Marketing

x

o Public Relations/Strategies

x

o Positioning

Student’s product strategy addresses three elements of the Product and Promotion List provided in the assignment.

15

15

Three of the elements of the Product and Promotion were discussed.

The product strategy is a minimum of 700 words in length. Note: Charts/graphs/tables do not count toward the word count. Please note: I do not have an upper limit. I am seeing many papers that are just meeting the minimum. Please expound on the topic if needed.

70

70

Writing Guidelines

Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.

Overall the paper is well written.

Sentences are complete, clear, and concise.

Rules of grammar and usage are followed including spelling and punctuation.

20

20

The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.

Intellectual property is recognized with in-text citations and a reference page.

10

10

APA is followed.

Total

100

100