Since joining my MBA last year, I have learned a lot in marketing. Starting from product management to supply chain management to consumer behavior to sales. A lot of topics have been taught . But there is one topic which I find is missing and probably will never be taught. That topic is "ETHICAL MARKETING".
Ethical Marketing generally means all the claims and promises which a company makes to its customers needs to be fulfilled.
In a country, where official figures state that 77% of population lives on almost Rs. 20/day and where only 2.7% people pay taxes- people would want that they get equal value to the amount they spent on purchasing goods and services. Our country boasts of a market where majority of the population is price sensitive and they have their economic reasons to be so. So, its an obligation for the companies to fulfill all the promises they make to customers at the time when they purchase gods from them.
But such obligations are hardly fulfilled.
Read this link: http://health.india.com/news/are-nestle-pepsico-and-others-misleading-you-with-wrong-labels/.
This link has an article how companies food and snack companies misrepresent facts regarding trans facts. Many companies like kurkure , pepsi, uncle chips claim that they have Zero trans fats but instead , you find that trans fats have high fats which are harmful for our health.
If you take the telecom companies, the claims they make at the time of taking connections is different after you are asked to pay the bill. The rates , packages and schemes turn out to be different after a connection is taken.
The problem is establishing trust among your customers. During this era of digital age, customers are well aware of which the wrong hings happening around them. With options increasing for customers in case of the goods and services provided in the market, they might stop using them in case don't think to change their policies.
The problem with companies is that they go for short term profits and don't look at the long term future. If customers have adequate trust in you, it will pay you in the long run in case of increased customer base and long term profits. So, fulfill the promises or don't make any.
YOOOOOOOOOOO
Ethical Marketing generally means all the claims and promises which a company makes to its customers needs to be fulfilled.
In a country, where official figures state that 77% of population lives on almost Rs. 20/day and where only 2.7% people pay taxes- people would want that they get equal value to the amount they spent on purchasing goods and services. Our country boasts of a market where majority of the population is price sensitive and they have their economic reasons to be so. So, its an obligation for the companies to fulfill all the promises they make to customers at the time when they purchase gods from them.
But such obligations are hardly fulfilled.
Read this link: http://health.india.com/news/are-nestle-pepsico-and-others-misleading-you-with-wrong-labels/.
This link has an article how companies food and snack companies misrepresent facts regarding trans facts. Many companies like kurkure , pepsi, uncle chips claim that they have Zero trans fats but instead , you find that trans fats have high fats which are harmful for our health.
If you take the telecom companies, the claims they make at the time of taking connections is different after you are asked to pay the bill. The rates , packages and schemes turn out to be different after a connection is taken.
The problem is establishing trust among your customers. During this era of digital age, customers are well aware of which the wrong hings happening around them. With options increasing for customers in case of the goods and services provided in the market, they might stop using them in case don't think to change their policies.
The problem with companies is that they go for short term profits and don't look at the long term future. If customers have adequate trust in you, it will pay you in the long run in case of increased customer base and long term profits. So, fulfill the promises or don't make any.
YOOOOOOOOOOO
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