Part 1
One of the ethical arguments of marketing is that it only benefits the marketer as it intends to meet the needs of a company or individual at the expense of the society. The opposing argument is that marketing could be also beneficial to the society as it informs people on a product, service or idea that could be useful in their lives. Another ethical argument about marketing is that it is good for competition as it enables competing parties to offer better products or services. An opposing argument is that marketing could harm competition as some marketing tactics might go against social values. A third argument about marketing is that it infringes on the freedom of the buyer to choose what to buy. On the contrary, marketing could …show more content…
For instance, companies like Netflix have incorporated technology in their business models such as video streaming (ElBenni & Fox, 2011). Such innovations by such a big player in the industry create a different level of competition whereby traditional retailers have to fight harder to retain their market position. The industry is also facing competition from piracy whereby suppliers can directly sell videos to customers. Consequently, the video rental chain should consider innovation and technology to remain competitive and relevant in the …show more content…
This implies that the product range is quite narrow and players in the industry sell similar products. With lack of product variety, competition could be stiff especially for smaller video retailers. The video rental industry is also adopting technology and other applications to distribute videos. For instance, companies like Netflix are selling videos through streaming technologies while others like Redbox allow consumers to rent videos for a day at minimal prices. It will be necessary to consider these applications to remain competitive.
3. Competence
Regarding competence, the video rental market has undergone significant changes that have seen companies change their product offerings to meet market demands. For instance, the industry is shifting from the traditional video renting business to online video rental. This way, the industry is able to keep up with innovation and new market demands to remain competitive. The video rental chain should also consider the online video rental platform to keep up with the transition.
4. Market
One of the ethical arguments of marketing is that it only benefits the marketer as it intends to meet the needs of a company or individual at the expense of the society. The opposing argument is that marketing could be also beneficial to the society as it informs people on a product, service or idea that could be useful in their lives. Another ethical argument about marketing is that it is good for competition as it enables competing parties to offer better products or services. An opposing argument is that marketing could harm competition as some marketing tactics might go against social values. A third argument about marketing is that it infringes on the freedom of the buyer to choose what to buy. On the contrary, marketing could …show more content…
For instance, companies like Netflix have incorporated technology in their business models such as video streaming (ElBenni & Fox, 2011). Such innovations by such a big player in the industry create a different level of competition whereby traditional retailers have to fight harder to retain their market position. The industry is also facing competition from piracy whereby suppliers can directly sell videos to customers. Consequently, the video rental chain should consider innovation and technology to remain competitive and relevant in the …show more content…
This implies that the product range is quite narrow and players in the industry sell similar products. With lack of product variety, competition could be stiff especially for smaller video retailers. The video rental industry is also adopting technology and other applications to distribute videos. For instance, companies like Netflix are selling videos through streaming technologies while others like Redbox allow consumers to rent videos for a day at minimal prices. It will be necessary to consider these applications to remain competitive.
3. Competence
Regarding competence, the video rental market has undergone significant changes that have seen companies change their product offerings to meet market demands. For instance, the industry is shifting from the traditional video renting business to online video rental. This way, the industry is able to keep up with innovation and new market demands to remain competitive. The video rental chain should also consider the online video rental platform to keep up with the transition.
4. Market