The BMGT496 consumer buying process and ethical marketing principles assignment highlight consumer behaviour and ethical marketing. Far too often, retailers think that consumer buying is a random activity. Moreover, they approach product and service marketing in the same way, based on trial and error. There are also social media and data privacy policies that retailers need to address when targeting customers. Importantly, there is a scientific problem that can help a company target a defined group of consumers. First, there is problem recognition. Before a purchase can ever take place, the customer must have a reason to believe that what they want. The BMGT496 consumer buying process and ethical marketing principles article help in understanding the stages involved in a consumer purchase.
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ETHICAL MARKETING PRINCIPLES AND THEIR IMPORTANCE IN CONSUMER-BUYER RELATIONSHIPS
The essay also highlights ethical marketing principles and how they impact on the consumer as well as companies. One of the most effective ways to improve your marketing strategy is to abide by certain ethical principles consistently. Furthermore, some marketing strategies may be able to draw in customers by using shady practices. Notably, using shady marketing tactics, you damage the long-term reputation of the company. Several ethical marketing principles can make a company successful. First, there is the protection of consumer data and privacy. Applying social media and data privacy policies will ensure that a company gains trust from its customers. Secondly, there is transparency which includes sharing vital information about a product’s safety and effective use. The BMGT496 consumer buying process and ethical marketing principles discuss the dos of successful marketing.
SOCIAL MEDIA AND DATA PRIVACY POLICIES AND ITS SIGNIFICANCE TO COMPANIES
Additionally, the research paper highlights the social media and data privacy policies necessary for companies to maintain a trustworthy relationship with consumers. Importantly, privacy law is essential for the vast majority of business owners and managers to understand. Particularly those whose businesses operate online and employ social media as a marketing tool. Privacy law is not one of the areas of law we considered “overhyped”. Accordingly, your social media strategy, including your company’s social media policy, should be created with privacy law in mind. “Privacy law” is a general term to describe laws that require businesses and other organizations to adopt particular protocols. The protocols protect the personally identifiable information (“PII”) of consumers. Lastly, the BMGT496 consumer buying process and ethical marketing principles discuss social media strategies and privacy policy of companies.
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