Business HSC 2012 practice essay PDF

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Practice essay response to Business HSC 2012 Exam...

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Why are the ethical behaviour and government regulation important in marketing (question 26, HSC 2012) Influences are the external impacts on a business which create opportunities or threats for the future sustainability of the business. These influences retain immense power over the marketing efforts of business’ as it is seen that they can regulate how promotional material and products are received by audiences. Coca Cola and QANTAS are both companies which have found it to be in their best interest to understand and respond to such influences, specifically ethical marketing and government regulations. As such these influences have proved to be a core concern of each business as they determine the success of marketing strategies, how well marketing objectives are met as well as influencing what promotional efforts are implemented. Ultimately, by responding effectively to these, business’ are able to produce marketing campaigns where a balance of legal compliance and ethical responsibility is established. Et hi c a lbe ha vi ouri savi t a lu nde r t a ki n gb yb us i ne s s ’wi s hi n gt oi mpl e me nts u c c e s s f ulma r k e t i n g c a mp a i gnsa si tt a k e si n t oa c c oun tc ommuni t ya n dc ons ume ri nt e r e s t s .Et hi c a li nflu e nc e sc e n t r a l i s e a r oundt hemor a lore t hi c a ls t a n d a r dso ft hebus i ne s s ’c o ns ume rma r k e twhe r epr omot i ona le ffor t sa r e s ub j e c t e dt opu bl i copi ni on .Ad opt i n ge t h i c a l l yr e s pon s i b l ebe ha vi ouri sai nt e gr a lr ol eofbus i ne s s ’a s f a i l ur et oa l i gnwi t ht h ee t hi c sofs oc i e t yma yme a nma r k e t i n gs t r a t e gi e sa r en o tr e c e i v e da swe l lb y c ons u me r s .Bye mpl o yi n ga n‘ unde r s t a nda n dr e s pond’me t ho d, bus i ne s sa r ea b l et os a f e gu a r d ma r k e t i n ge ffo r t sa nds t r a t e gi e st oe ns ur et he i rs uc c e s s . QANTASi sabus i ne s st ha th a se ffe c t i v e l y k e pte t h i c a lbe ha vi ou ra sak e yc onc e r nb ypr oduc i n ge n vi r on me nt a l l ys us t a i na bl epr oduc t s .As QANTASus e sR&Dwi t h i nt he i rope r a t i o nspr oc e s s ,t hebus i ne s swa sa b l et oi de nt i f yt hegr o wi n g e n vi r on me n t a lc on c e r nswi t hi ns o c i e t ya n dc ons e q ue n t l y , r e s p ondi no r de rt oa p pe a lt oc ons u me r s . Thi swa sd oneb yi nt r o duc i n gbo x e dme a l si n2 014wh i c hs ub s t a nt i a l l yr e duc ewa s t ea n dus i n gs ol a r e ne r gyt opo we ra me ni t i e s .Bydo i n gt hi sQANTASha sbe e na bl et og a i nas t a t u sa sa n e n vi r on me n t a l l yr e s pons i bl ebus i ne s st husa i di n gi t sbr a n di n gs t r a t e gi e sa si t sl o g oi sa s s oc i a t e dwi t h e t h i c a lbe ha vi o ur . Fur t he r ,b yma r k e t i n gne wp r oduc t ss uc ha st h ebo xme a l sQANTASwa sa bl et o a ppe a lt oawi d e ra udi e n c e ,c on t r i but i n gt ot h es uc c e s soft hebus i n e s sa si t sf o l l o wi n gpr ofitf o rt he 2015y e a rc a met o$9 75mi l l i on. He nc ei tc a nbes e e nt ha tb yf e a t u r i n ge t hi c a lbe ha v i ou ri nma r k e t i n g e ffo r t s ,bu s i ne s s ’a r ea bl et oi mp r o v et hes uc c e s sofma r k e t i n gs t r a t e gi e s , hi ghl i ght i n gi t si mp or t a nc e . Fol l o wi n gf r o mt h i si st h ei mp or t a n c eofe t hi c a lbe h a vi ouri na l l o wi n gbus i ne s st ome e tma r k e t i n g ob j e c t i v e s .Ase t hi c a lr e s pons i b i l i t yc a nb edi r e c t l yl i nk e dt oi mpr o v e ds a l e sa ndbr a ndpos i t i on i n g, i t i si mp or t a ntt ha tbus i n e s s ’i nt e gr a t et hi si nt ot he i rma r k e t i n ge ffor t st oa i di na c hi e vi n gg o a l s .Ho we v e r de s pi t et hi spot e nt i a lf o rs i g ni fic a n tbe n e fit s ,s o mebus i n e s sf a i li ni mpl e me nt i n ge t hi c a lbe ha v i ou ri n t he i rma r k e t i n gt huspr e v e n t i n gma r k e t i n gob j e c t i v e st obeme t .AsCo c aCo l ai sagl oba lbus i ne s s ,t he e t h i c a ls t a nda r dso fi t sc ons ume r sv a r ya c r os sg e ogr a phi c a lr e g i onsho we v e rt hec o mp a n yha so v e r a l l s ho wna ni na bi l i t yt ode v e l ope t hi c a l l yr e s p ons i bl ea dv e r t i s i n g . Th ec ompa n ye n g a g e di nf a l s e a d v e r t i s i n gb ya d v e r t i s i n g ,t hr ou ght he i r‘ Gl oba lEn e r gyBa l a n c ene t wor k ’t hei de at ha tc ons ume r s s houl df o c usone x e r c i s ea ndc a nt he ne a twha tt he yc ho os e .Bypr o v i d i n gmi s l e a di n gi nf o r ma t i ono n t hes our c eofobe s i t y ,t h ec omp a n yha ss i gni fic a n t l yi mp e d e dt h e i rma r k e t i n gob j e c t i v et oma xi mi s e c u s t ome rc us t omi s e .Thi swa sbe c a u s eb yf a i l i n gt op r o vi det r u t hi nt h e i rpr oduc t , Co c aCo l aha sf a i l e d t or e s pondt ot h ene e dsa n dhe a l t hc o nc e r nsoft hec us t ome r .Fur t he r mo r eb yf a i l i n gt or e s p ondt o e t h i c a li nflue n c e s , Co c aCo l awa sf o r c e dt ot a k ec or r e c t i v ea c t i o nb ypubl i s hi n gt ha tt he i rpr odu c t s ma yl e a dt o“ obe s i t y , d i a b e t e s . . ”whi c hnotonl yi nc r e a s e de x pe n s e sf o rt h ebu s i ne s sbuta l s oma y pr o v ede t r i me n t a lf o rt hec omp a n y ’ spr ofit sb yi de nt i f y i n gt ha ti ti spr o duc i n gpr od uc t st ha tma y da ma g ehe a l t h .Th e r e f o r ei ti si mp or t a ntt ha tbus i ne s s ’i n v e s ti nma r k e t i n gt ha ta l i gn swi t he t hi c a l s t a n da r d sa sf a i l ur et odos oma yr e s u l ti ni nc r e a s e dc os t sa ndde c r e a s e dbr a ndpo s i t i on i n ga mon g s t c omp e t i t or s .

Se pa r a t et ot hi si st hei n flue nc eofg o v e r nme n tr e gu l a t i onwhe r et h el e g a l l ybi nd i n gna t ur eofpol i c i e s findt h e mt obehi ghl yi mpor t a n twi t h i nt hema r k e t i n gpr oc e s s . Go v e r nme n tr e gul a t i on sa ndc ons ume r l a wsr e f e rt ot hef o r c e si mp l e me n t e db yl e g i s l a t i v eb odi e st op r ot e c tt her i ght sofc us t ome r s .I n Aus t r a l i at h eg o v e r nme ntha si n t r o duc e dl a wsi nor de rt oc r e a t et heba s i sonwhi c ht her i g ht sa nd r e s pons i bi l i t yofc on s ume r sa ndbus i n e s sa r ef o unda swe l la sl e g a lpr o t e c t i onf ori ndi vi dua l s .Th e Aus t r a l i a nCons u me rLa wi st hes i n gul a rr e gu l a t i o ni mp l e me n t e dna t i on wi dei nAus t r a l i a .Ass u c h,a l l bus i ne s swh i c ho pe r a t ewi t hi nAus t r a l i aa r es u b j e c t e dt ot het e r mso ft h i sl a w,r e qui r i n gt he mt o e mb e dc omp l i a n c ewi t h i nt he i rma r k e t i n gs t r a t e gi e st oa v oi dl e g a lc o ns e q ue n c e s . Bus i ne s s ’s u c ha s QANTASha v es e e nt oun de r s t o odt h ei mp or t a nc eofg o v e r nme ntr e g ul a t i onswi t h i nma r k e t i n g me t hodsb yi mpl e me nt i n gi nt e r n a lbodi e ss uc ha st h eQa nt a sLe g a lDe p a r t me ntwhi c hr e v i e wsa l l pr omo t i on a la nda d v e r t i s i n gma t e r i a lbe f or epubl i c a t i on .He r et h ei mp or t a nc eofc o ns i d e r i n g g o v e r nme ntr e gul a t i onsi ss e e na st h e yha v eadi r e c ti mp a c tonwha tpr omo t i ona le ffor t sa nds t r a t e gi e s c a nbei mp l e me n t e da st heCo mp e t i t i ona ndCo ns ume rAc t2010pl a c e sr e s t r i c t i onsona d v e r t i s i n ga nd pr i c edi s c r i mi n a t i on .Thec ons e q ue nc e sofnonc omp l i a n c ei ss e e nb yt h ec omp a n yo fCo c a Co l aa sa n a df e a t ur i n gKe r r yAr ms t r o n gwa sfla gg e db yt heACCCCf o rmi s l e a di n ga d v e r t i s i n g .Con s e que nt l y , a c or r e c t i v ea d v e r t i s e me n twa sf or c e dt ob epub l i s h e d ,s i gni fic a nt l yi mpa c t i n gt h ep r ofit soft hebus i ne s s duet oi nc r e a s e de xpe n s e st o wa r d st h ene wa dv e r t i s e me nt . He nc e , i tc a nbes e e nt ha tc omp l i a n c ewi t h g o v e r nme ntr e gul a t i onsi nma r k e t i n gi se xt r e me l yi mpor t a n ta si ta l l o wst hebus i ne s st oa v oi df ur t he r e xpe ns e sa swe l la sma r k e ti nar e s p ons i bl ewa y . The r e f o r e ,i ti se v i de n tt ha tb yunde r s t a n di n ga ndi nt e gr a t i n ge x t e r na li nflue nc e si nt oma r k e t i n g , bus i ne s s ;a r ea bl et oi mp r o v et he i rma r k e t i n ge ffor t s .Amon gs tt hen ume r ousi nflue nc e st h a tp l a yon bus i ne s s ,e t h i c a lbe ha vi o ra ndg o v e r nme ntr e gul a t i onr e ma i nc e n t r a lc onc e r ns . Bu s i ne s ss u c ha s QANTASa n dCoc aCol aha v ei ndi c a t e dt h a tb yope r a t i n gi na ne t hi c a l l yr e s pons i bl ewa y ,b us i ne s sa r e a bl et oi mp r o v et hes u c c e s sofma r k e t i n gs t r a t e gi e sa ndma i nt a i nbr a ndpos i t i oni n g , whe r e a s g o v e r nme ntr e gul a t i onsa r es i gni fic a nta snonc omp l i a n c ema yc a us eonc os t s .Ul t i ma t e l yi ti sc r u c i a l t ha tbus i ne s s ’c ont i nua l l ys t r i v et oi mp r o v et he i rma r k e t i n gt obe t t e ra l i gnwi t hs u c hi nflue nc e s ....