Project 2: Consumers And Marketing (Your Name) BMGT 496 ✓ Solved

Project 2: Consumers and Marketing ( Your Name ) BMGT 496

As consumers we can define our attitudes and acceptance, or rejection of advertising based upon our perceptions and experience. But as students of Business Management, we are called upon to examine the topic more in depth and from a corporate perspective. Project 2 will address the following questions from the perspective of a business owner or chief marketing officer.

Introduction: Write an Introduction paragraph. The Introduction paragraph is the first paragraph of the paper and will be used to describe to the reader the intent of the paper explaining the main points covered in the paper. This intent should be understood prior to reading the remainder of the paper so the reader knows exactly what is being covered in the paper. Identify from which perspective the paper will be written: business owner or chief marketing officer. Write the introduction last to ensure that the main points are covered.

Product Selection and Its Typical Consumer: Select and discuss one good example of a product, brand or industry and its typical consumer. The product selection can be of your choice, but the information presented about it is from a reliable source and properly cited and referenced.

Consumer Purchase Decision: Define the consumer purchase decision by one or more of the five “conceptions.” Explain how the product is suited for marketing to one or more of the 5 conceptions and why not to the others.

Ethical Principles: Explain what ethical principles would apply to the marketing of the selected company’s or industry’s products? Include an alignment of the principles selected in relation to caveat emptor. Explain the responsibilities of the marketer in relation to ethics concepts you have studied, including HOW its application would impact the marketer’s message and programs.

Privacy Policies: Explain specifically what would be prescribed for the company’s social media and data privacy policies related to the advertising of its product(s).

Conclusion: Write a concluding paragraph that is brief and summarizes the main points. Provide specific information related to the major topics discussed in the paper.

References: The reference page is on a separate page from the report. The reference page is completed according to APA with each reference left-justified with hanging indentation for subsequent lines. References are completed in alphabetical order.

Paper For Above Instructions

Introduction

The marketing landscape is continuously evolving, influenced heavily by consumer perceptions, behaviors, and ethical considerations. In this paper, the perspective of a Chief Marketing Officer (CMO) will be taken to analyze the connection between consumers and marketing practices. The importance of ethical marketing, the consumer purchase decision process, and the implementation of privacy policies will be explored in relation to a selected product. This analysis aims to provide insights into how companies can enhance their marketing effectiveness while adhering to ethical standards and fostering trust with their consumers.

Product Selection and Its Typical Consumer

For this analysis, the product selected is the iPhone by Apple Inc. The iPhone exemplifies a well-established brand with a diverse yet specific consumer base. Typically, iPhone consumers range from teenagers to middle-aged professionals, characterized by their appreciation for technology, brand loyalty, and disposable income for premium products. According to Statista (2022), Apple's iPhone has consistently maintained a significant share in the global smartphone market, underscoring its popularity among consumers seeking innovation and quality.

Consumer Purchase Decision

The consumer purchase decision process can be described through five conceptions: need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior (Kotler & Keller, 2016). For the iPhone, the initial need recognition often stems from the desire for an upgraded device or the need for advanced features. The information search phase involves consumers researching online reviews, specifications, and pricing, which reinforces the iPhone’s strong market presence and brand reputation. When it comes to evaluation, consumers typically compare the iPhone with other smartphones, considering factors like operating system, design, and brand loyalty. The purchase decision is then influenced by Apple’s marketing strategies, emphasizing quality and customer experience, while the post-purchase phase is marked by consumers' satisfaction with their choice, as evident from the high customer retention rates for the iPhone (Apple, 2022).

Ethical Principles

In marketing the iPhone, several ethical principles apply, particularly around transparency and consumer autonomy. A key ethical consideration for marketers is caveat emptor, or “let the buyer beware” — the obligation to inform consumers about product features, limitations, and potential issues (Smith & Quelch, 1993). Marketers must ensure that information about the product is accurate and not misleading, fostering a trustworthy relationship with the consumer. Additionally, failure to uphold ethical standards can lead to loss of customer trust and brand loyalty, vital for long-term success in the competitive market.

Privacy Policies

Regarding social media and data privacy, Apple has established stringent policies that prioritize user privacy. The company advocates for data protection by minimizing the amount of data collected, allowing users to control what information is shared (Apple, 2022). In advertising the iPhone, Apple emphasizes user consent and transparency about data usage, which plays a significant role in building customer trust. For example, their “App Tracking Transparency” feature exemplifies a commitment to consumer privacy while still effectively marketing their products.

Conclusion

In conclusion, the interplay between consumers and marketing strategies is complex and requires a multifaceted approach, particularly from the perspective of a Chief Marketing Officer. Understanding the consumer purchase decision process, integrating ethical marketing principles, and ensuring robust privacy policies are essential for successfully promoting a product like the iPhone. By adhering to these practices, companies can enhance their market positioning while fostering trust and loyalty among consumers.

References

• Apple. (2022). Privacy. Retrieved from https://www.apple.com/privacy/
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.
• Smith, N. C., & Quelch, J. A. (1993). Ethics in Marketing. Irwin.
• Statista. (2022). Global smartphone market share by vendor. Retrieved from https://www.statista.com/statistics/272645/global-market-share-held-by-smartphone-vendors/
• Additional References here to reach a total of ten creditable sources.