Marketing malpractice the cause and the cure summary. Marketing Malpractice: The Cause and the Cure 2022-10-04
Marketing malpractice the cause and the cure summary
Marketing is a crucial aspect of any business, as it helps to attract and retain customers, and ultimately drive sales and revenue. However, there are instances when marketing practices cross ethical boundaries and become what is known as marketing malpractice. This can take many forms, such as false advertising, deceptive pricing, or manipulating consumer behavior. Marketing malpractice can have serious consequences for both businesses and consumers, and it is important to understand the causes and possible cures for this problem.
One major cause of marketing malpractice is the pressure to meet sales targets and outperform competitors. In an effort to stand out in a crowded market, businesses may resort to unethical tactics to attract customers. This can range from exaggerating the benefits of a product or service to outright lying about its features or performance. In addition, businesses may engage in deceptive pricing practices, such as hiding fees or surcharges, or using misleading terms such as "free" or "discounted" to entice customers.
Another cause of marketing malpractice is the lack of regulation and oversight. In some cases, businesses may be able to get away with unethical marketing practices because there are no laws or regulations in place to prevent them. This can lead to a lack of accountability and a culture of unethical behavior within the industry.
To address marketing malpractice, it is important to establish and enforce clear guidelines and regulations. Governments, industry associations, and consumer advocacy groups can all play a role in setting standards for ethical marketing practices. In addition, businesses can adopt self-regulatory measures, such as establishing codes of conduct and implementing internal oversight mechanisms to ensure compliance with ethical standards.
Consumers also have a role to play in preventing marketing malpractice. By being aware of common tactics used by unethical businesses and staying informed about their rights and protections, consumers can make more informed decisions and avoid being duped by false advertising or deceptive pricing practices.
In summary, marketing malpractice is a serious problem that can have negative consequences for both businesses and consumers. To address this issue, it is important to establish and enforce clear regulations and guidelines, and for businesses to adopt self-regulatory measures to ensure compliance with ethical standards. Consumers can also play a role by being aware of their rights and staying informed about common unethical marketing tactics.
Marketing Malpractice the Cause and the Cure
Instead of Japanese Companies Rarely Have Strategies The Japanese triggered a global revolu- tion in operational effectiveness in the 1970s and 1980s, pioneering practices such as total quality management and continuous improvement. It states that companies need to segment the market by job rather than by categories of customers, in order to get maximum market share. Buyers of cans—beverage compa- nies, for example—will likely have different needs from their primary supplier than from their secondary source. Milwaukee Electric Tool has built purpose brands with two—and only two—of the products in its line of power tools. It will help you to focus your efforts in terms of receiving it and taking the time to focus on the results. Brand "uilding "y advertising is indeed prohi"itively e;pensive. Marketers should have clear job specs, 2.
Marketing Malpractice: The Cause and the Cure
But one cannot sustain victory "y standing still. But when marketers had originally asked individual customers who hired a milk shake for either or both jobs which of its attributes they should improve—and when these responses were averaged with those of other customers in the targeted demographic segment—it led to a one-size-fits-none product. Examples of these brands, called aspirational brands in the paper, are Gucci, Absolut, Montblanc, and Virgin. Marketing mavens are fond of saying that brands are hollow words into which meaning gets stuffed. At the end of the 1990s, new Crest executives brought two disruptions to market, each with its own clear purpose brand. Southwest Airlines Company, for example, offers short-haul, low-cost, point-to-point service between midsize cities and secondary airports Operational Effectiveness Versus Strategic Positioning dereviled eulav reyub ecirpno N Relative cost position low lowhigh high Productivity Frontier state of best practice page 6 What Is Strategy? The method for brand building that is appropriate for these jobs, however, has been wantonly and wastefully misapplied to the rest of the world of branding. Southwest has staked out a unique and valu- able strategic position based on a tailored set of activities.
The Cause and the Cure of Marketing Malpractice
Trade-offs arise for three reasons. Porras Reinventing Your Business Model by Mark W. Laptop com- puters, mobile communications, the Internet, and software such as Lotus Notes, for exam- ple, have redefined the productivity frontier for sales-force operations and created rich possibilities for linking sales with such activi- ties as order processing and after-sales sup- port. Surgical Treatment for Malpractice The Treatment for Malpractice The Treatment For Medical Malpractice We talk extensively about surgical procedures today and expect to change the medical treatment from the first case we deal with to the most common options and the most effective treatment for the problems in every case of a surgical procedure. Brands should be build on platform of purpose, 3.
This work of deciding which target group of cus- tomers and needs to serve requires discipline, the ability to set limits, and forthright commu- nication. Title: Marketing malpractice - The cause and the cure Author s : Christensen CM, Cook S, Hall T Source: HARVARD BUSINESS REVIEW 83 12 : 74-+ DEC 2005 Abstract: Ted Levitt used to tell his Harvard Business School students, "People don't want a quarter-inch drill - they want a quarter-inch hole. Strategy, on the other hand, requires hard choices. It arises when there are groups of customers with dif- fering needs, and when a tailored set of activi- ties can serve those needs best. In the 1980s, with rivals operat- ing far from the productivity frontier, it seemed possible to win on both cost and quality indefinitely.
Marketing Malpractice The Cause and the Cure
For those who argue that competitors can copy any market position, the airline industry is a perfect test case. That consumers have become too difficult to understand? But how does Southwest achieve it? Thirty thousand new consumer products hit store shelves each year. The tagline and ads transformed a brand that had been a simple description of a product into a purpose brand that clarified the nature of the job and the product that was designed to do it, and the product has become very successful. Note the role that advertising played in this process. Thus the prevailing methods of segmentation that "udding managers learn in "usiness schools and then practice in the marketing departments of good companies are actually a key reason that new product innovation has "ecome a gam"le in which the odds of winning are horrifyingly low. They deter straddling or repositioning, because competi- tors that engage in those approaches under- mine their strategies and degrade the value of their existing activities. They hired milk shakes as an innocuous way to placate their children and feel like loving parents.
Marketing malpractice the cause and the cure summary
Southwest avoids large airports and does not fly great distances. Advertising clarified the nature of the job and helped more people realize that they had the job to do. The Japa- nese were so far ahead of rivals in operational effectiveness that they could offer lower cost and superior quality at the same time. A broadly targeted com- petitor—for example, Vanguard or Delta Air Lines—serves a wide array of customers, per- forming a set of activities designed to meet their common needs. The same value chain can- not profitably meet the needs of both groups.
Article Summary: “Marketing Malpractice” by Christensen et al : Investment Research
In fact, companies that historically have segmented and measured the size of their markets by product category generally find that when they instead segment by job, their market is much larger and their current share of the job is much smaller than they had thought. Simultaneous improve- ment of cost and differentiation is possible only when a company begins far behind the productivity frontier or when the frontier shifts outward. They must benchmark continuously to achieve best prac- tice. By 10:00, they felt less hungry than when they tried the alternatives. Its Fluoristan-reinforced toothpaste made cavity-preventing fluoride treatments cheap and easy to apply at home, replacing an expensive and inconvenient trip to the dentist.
Marketing Malpractice The Cause And The Cure
The aim of the NHS is to serve the masses better by informing them and educating them on the necessity of improving their lives and the real need of their loved ones. They must outsource aggressively to gain efficiencies. For example, Neutrogena soap is positioned more as a me- dicinal product than as a cleansing agent. By providing a high level of assistance all the time, the sales- person and the entire sales activity can often achieve efficiencies of learning and scale. Bessemer offers a wide array of customized services, including invest- ment management and estate administration, oversight of oil and gas investments, and ac- counting for racehorses and aircraft. Products your customers consistently value—and brands that deliver sustained profitable growth to your company.
But the resulting major productivity gains are being captured by customers and equipment suppliers, not retained in superior profitability. Quality is not always free. An airline can choose to serve meals—adding cost and slowing turnaround time at the gate— or it can choose not to, but it cannot do both without bearing major inefficiencies. Continental Airlines saw how well South- west was doing and decided to straddle. PESTEL Analysis If you use paper to buy property it is a fair comparison. Show- rooms display samples of the merchandise.
Marketing Malpractice: The Cause and the Cure
Jiffy Lube International, for instance, spe- cializes in automotive lubricants and does not offer other car repair or maintenance services. Southwest, in contrast, tailors all its activities to deliver low-cost, convenient service on its par- ticular type of route. Because Continental remained a full-service airline on other routes, it contin- ued to use travel agents and its mixed fleet of planes and to provide baggage checking and seat assignments. Executives everywhere are charged with generating profitable growth. The corporation finally gave responsibility for the opportunity to a completely different organizational unit, which launched single-use cameras with a purpose brand—the Kodak FunSaver. The more Ikea has config- ured its activities to lower costs by having its customers do their own assembly and delivery, the less able it is to satisfy customers who re- quire higher levels of service. Gallan, "ServiceLogic innovations: How to Innovate Customers, Not Products", California Management Review , vol.