Conceptions and Misconceptions in Marketing †MyAssignmenthelp.com

Question: Discuss about the Conceptions and Misconceptions in Marketing. Answer: Introduction Marketing has evaluated socially through a course of time. The new trends of marketing now follow a unique approach. Palmer (2017) has recognized that the regular life of the consumers is deeply affected by the everyday marketing, however, in most cases in a positive way. There are several case histories that support this saying. There is also a general statement saying that the advertizing supports media. Another alternate approach for the social assessment has also been termed as pathological which indicates that the business financial objectives can also been seen as paramount, however the social impact of marketing of products such as the deceptive advertizing, environmentally disparaging products, and the further exploitation of vulnerabilities of the consumers are also considered as negative and harmful. In contrast to this statement, there are some anecdotal assessments of cases of different situations indicate to the normative principles that are mostly enriched by the histor ical evidences and the recent observation of events which also transcends particular cases that considers the aspirations and requirements of the community (Stoeckl and Luedicke 2015). An instance of this issue can refer to the Catholic Social Thought or the Catholic Social Teaching. Catholic Social Thought or CST refers to the Christian approach on the economical ethics rooted in the scriptures and mostly interpreted in the light of modern circumstances. It can also be identified that earlier there were eight papal encyclicals within this tradition. Furthermore, the normative principles that are presented in the CST, published in 2009 by Benedict XVI indicated to a profound reflection of the idea of common good of the community. This essay will trigger the primary economic, legal and ethical issues that have impacts on the marketing that addresses the environmental stewardship and common good. Within the ambiance of mutual trust, the market management acts as the financial institution which tends to permit the encounter amongst the factors which act as the economic subjects making adequate usage of contracts that regulate their relationships while they exchange the services and goods of the equivalent value for satisfying the individual desires and needs. It should also be noted that in the market, the people tend to meet mostly for the services and goods. However the proper market mechanism has been viewed by Benedict XVI as something that is governed by the mutual interest of the participants. Laczniak, Santos and Klein (2016) have indentified that justice should be applied to all the phases of any kind of economic activities that are locating financing, resources, consumption, production and any other stages of the economic cycle. All these stages have specific moral implications as each economic decision has a definite moral consequence. It should also be noted that it is possible that the formation of particular wealth can only be entrusted with the economy; however the distribution of the tasks could also be assigned to the politics. This is more difficult in the contemporary times as the economic functions are not circumscribed with a particular limit anymore, while the government and authority still continues to be local on the basis of their principles. Therefore the canons of justice should be respected from the outside. Along with the unfolding of the economic procedure, it continues to occupy a certain place. A space is also required to be created within the sphe re of economic functions and it should be carried out by the subjects who choose to behave in accordance with the principles, keeping the pure profit outside and without any kind if sacrifice of the fixed economic value of the procedure. There are several financial entities which tend to draw their root from the religious organizations, therefore they lay the initiatives which tend to demonstrate the one which is definite and very much possible (Klein 2015). It has also been said that the economic life tends to require contracts for regulating the exchanging relations between the good things which are of equivalent values. However, the forms and laws of redistribution are also required which are politically governed, therefore it also requires working with the fragrant of the Gods spirit. Within this globalization era, the economy also seems to be privileged with this basic logic; however in an indirect or direct way it tends to demonstrate the requirement for either the political p urpose or the logic of categorical gift. In continuation of this very theme, Benedict XVI indicates that any economic decision has certain moral consequences and it should also be noted that in most situations the circumstances that are derived from the financial domains, tend to transcend the political border lines. Furthermore, if there is any assumption that the political actions stand alone in this, it is sufficient to make sure that the justice has been misplaced (Murphy and Sherry 2013). The market forces along with the political actions tend to have roles for governing the financial activities, spirit of God and charity which can be expressed through different voluntary acts of the participants of the market. Therefore these are also necessary for perfecting the existing economy and lead to fulfilling the common goodness. Within the ambiance of mutual trust, the market acts as the financial institution which tends to permit the encounter amongst the factors which act as the economic subjects making adequate usage of contracts that regulate their relationships while they exchange the services and goods of the equivalent value for satisfying the individual desires and needs (Klein 2015). It should also be noted that in the market, the people tend to meet mostly for the services and goods. However the proper market mechanism has been viewed by Benedict XVI as something that is governed by the mutual interest of the participants. Legal Issues The Compendium of the Catholic Church states that the business should characterize with their capability if serving the common good of the community through the production of helpful services and goods. The working legal system also acts as a major issue that is most often controlled by the governments within the developed economies. The examination of the corporate scandals, mostly regarding the financial sectors can identify the organizational structure and leadership. Therefore there may also be conflicts of interest among the executives, financial analysts, board members and the regulatory representatives. In such situation, the accounting practices can be intended for hiding or deceiving than informing. Therefore these deficiencies may be correctable through a deep attention to the compensation system, relationships and policies (Sheth and Sinha 2015). Therefore the organizational culture that penalizes the misconduct and rewards the good one, it may be capable of providing a tr ansparent environment which may foster the responsible behavior. If there are any illegalities, the desirable entities can also be referred to fostering the organizational integrity. However, the organizational integrity is sometimes impossible for maintaining or developing if the organizational units are segregated from the each other and fighting for resources, attention and guarding information from each other. Palmer (2017) also refers to the Dilbertian syndrome, that indicates to the quality specifications and product design which are compromised due to the cost consideration and marketing purpose. However, if such characterizations are applicable, the cost accountants and the marketing managers have a lot to answer. Moreover the organizational integrity is also related to a positive understanding that is mostly built on a mutual, helpful and supportive relationship among the units of any organization, along with the stakeholders that represent the environment of the organizati on. Other than that, it also seems that only the marker forces are either slow or insufficient fir ensuring the transparency and justice within the market relationships and transactions. Therefore the tradition of Catholic Social Thought has frequently emphasized the legal conducts as a basic guarantor of such vulnerable interests. However, the objective appraisal of the past history identifies that in most situations any periodic breaches of the conduct tend to remain as reality and secondly the normal expectations also require some enforcement and conduct (Mish and Miller 2013). Therefore it can also be said that these conditions may also call for some legal regulations for protecting the third party organizations and the vulnerable interests of the second party. However the scope for the required oversight may be uncertain, but the Church can call for any global body for carrying out the role. Whatever may be the domain of such legal regime; there can be two kinds extreme legal f ailure, such as expensive administration costs that may exceed the savings of the organization and insufficient resources. Ethical Issues The social doctrine of the church can always make a special contribution to the ethical needs of individuals. It has also been said that the business ethics are entirely detached from the pillars of moral and natural norms, therefore inevitably it has many risks which may become subservient to the contemporary financial and economic systems in place of making the dysfunctional aspects right. Therefore, this also relates to the import of the ethical concern within the sphere of business and decision making in business. On the other hand, there should be more adherences to the ethical concern such as the legalism or financial utilitarianism which seems to be insufficient (Sheth and Sinha 2015). Without any direct references, the statement also argues that there should be a quasi-Kantian framework within the business sphere for referring to the business conducts. However the consequences of such activities should always progress with the human welfare which crosses the boundaries of the narrow interests of any business organization. Therefore, the common good should be the parameter and it should be applied to the macro level. It should also be noted that the consumer also has the social responsibility which should complement the social responsibility of the organization. This is very much necessary to explore the cooperative purchasing and the innovative methods of marketing new products that are coming from deprived areas from all over the world. This also addresses the viewpoint of the ethics of consumers which tend to communicate with the specified responsibilities of the business organization, most probably to the impact of the usage, purchasing and the disposal decisions on the surroundings and the less fortunate ones (Ali and Ahmad 2016). In other words, it can be said that this calls for a responsible consumption of goods that includes marketing initiatives with fair trade. The Caritas in Veritate can be interpreted as the articulating normative principles which are to be followed, therefore it indicates to the building of institutions in the form of customer cooperatives where Church had played a significant role in the past, therefore the regulatory atmosphere also advances the good for the community. The Caritas in Veritate also serves few objectives and goals for the businesses. One of the major goals is focused on the orientation that extends beyond the immediate economic rewards. This orientation also needs an explicit attention for more than the quarterly and annually results which can drive the actions of several business organizations. This also needs the explicit attention for the non-economic measures which also contributes to the sustainability of the organizations (Mish and Miller 2013). In addition to that the common response to every imperative can consider the treating the ethical and social concerns as the constraints of making decisional functions. In such cases the result may be negative. On the other hand a positive ethics can identify the suitable return on investment along with the external obligations as they improve the product safety, surrounding environment and the community relations. Conclusion In conclusion, it can be said that the principles for the common good and environmental stewardship may provide an integrative force for bearing on the issues regarding marketing. The businesses tend to thrive in a prosperous environment. The contemporary global recession indicates the there are difficulties for generating profits as it does not matter that the organization is curtailing the costs or not. If the consumer and the organization both are in decline, it is very difficult obtaining the financing. Furthermore, other than the general financial concerns, there are other issues such as inadequate income, education, housing and health which are the major entities for the common good. These can also be rectifies if the decisions are to contribute to the general welfare of the environment. Reference list Ali, A. and Ahmad, I., 2016. Environment friendly products: factors that influence the green purchase intentions of Pakistani consumers.Pakistan Journal of Engineering, Technology Science,2(1). Klein, T.A., 2015. Distributive justice: Theory and applications in global markets.Handbook on Ethics and Marketing, pp.168-187. Laczniak, G.R., Santos, N.J. and Klein, T.A., 2016. On the Nature of Good Goods and the Ethical Role of Marketing.Journal of Catholic Social Thought,13(1), pp.63-81. Mish, J. and Miller, A., 2013. MARKETINGS CONTRIBUTIONS TO A SUSTAINABLE SOCIETY.Marketing and the Common Good: Essays from Notre Dame on Societal Impact, p.153. Murphy, P.E. and Sherry Jr, J.F. eds., 2013.Marketing and the Common Good: Essays from Notre Dame on Societal Impact. Routledge. Palmer, D.E., 2017. Conceptions and Misconceptions of Virtue in Marketing. InHandbook of Virtue Ethics in Business and Management (pp. 1027-1035). Springer Netherlands. Sheth, J.N. and Sinha, M., 2015. B2B branding in emerging markets: A sustainability perspective. Industrial Marketing Management,51, pp.79-88. Stoeckl, V.E. and Luedicke, M.K., 2015. Doing well while doing good? An integrative review of marketing criticism and response.Journal of Business Research,68(12), pp.2452-2463.