Positioning a product is how the consumer perceives the product compared to the competition. Meaning does the product stand out above its competitors. Marketers want products to stay positioned in a consumer’s mind. If the product’s image is not embedded in a consumer’s mind; then the marketer may reposition the product. Repositioning the product means it tries to place the product in a different place in the consumer’s mind. “Offerings are products and services designed to deliver value to customers-either to fulfill their needs, satisfy their ‘wants’ or both” (Tanner & Raymond, 2012). Almost all offerings include product and price, but only some include service. A product is a tangible good that can be bought and owned. The price is the
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This is when a company gathers information about a customer. The information can include what consumers like to buy, tax and phone records, what kind of car they drive or their income level. Microtargeting can have ethical and legal issues arise, as getting this information from consumers can be an invasion of privacy. Businesses can easily get into trouble if the business is trying to copy a photo or other information; they risk falling into a legal issue such as violating copyrights. “Business ethics refer to an organization operating in a responsible manner” (Perrault & Keith, 2004). Legality in business includes corporate guidelines, accepted accounting standards, fair labor practices and environment regulations. But, when it comes to the digital world and marketing there could be even more legal issues arise. The American Marketing Association has a Code of Ethics. “The Code then details marketers’ responsibilities and general guidelines for conduct and specifies particular points relevant to five specialized marketing areas: product development and management; promotions; distribution; pricing; and marketing research” (Sources of Special Topics,
This is when a company gathers information about a customer. The information can include what consumers like to buy, tax and phone records, what kind of car they drive or their income level. Microtargeting can have ethical and legal issues arise, as getting this information from consumers can be an invasion of privacy. Businesses can easily get into trouble if the business is trying to copy a photo or other information; they risk falling into a legal issue such as violating copyrights. “Business ethics refer to an organization operating in a responsible manner” (Perrault & Keith, 2004). Legality in business includes corporate guidelines, accepted accounting standards, fair labor practices and environment regulations. But, when it comes to the digital world and marketing there could be even more legal issues arise. The American Marketing Association has a Code of Ethics. “The Code then details marketers’ responsibilities and general guidelines for conduct and specifies particular points relevant to five specialized marketing areas: product development and management; promotions; distribution; pricing; and marketing research” (Sources of Special Topics,