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Michaels
Moral Status of Advertising in a Free Market Economy
Jane Michaels
Marketing 201
Moral Status of Advertising a Free Market Economy
Despite what many individuals may think, when devising an advertising plan, the planners must carefully pay attention to the motives of not only the business that is selling, and the perceptions of the target audience. Understanding the audience and paying attention to how one sells an idea or product is the core of affective and positive advertising (Shell and Moussa 313). However, persuasion can be a careful line of right and wrong, and in the case of a free market economy. In a free market economy, the concept of supplying a people with a sense of economic freedom can also lead to political and civil opportunities. To follow is the argument affirming a free market economy, highlighting more opportunities then inopportunity for economic growth and underlining freedoms.
Justifying advertising in any market economy is dependent upon the virtue of said market and the efficiencies of distributing necessary economic resources (Goldman 299). There are essentially ideal conditions for a purely competitive market, conditions best suited in a free economy. Amongst the conditions is one key element, the maximization of individual freedoms through voluntary transactions, thus allowing individuals the opportunity to choose everything from occupations, investments and purchases (Goldman 299). Advertising to a free market economy, there is a focus on honest features of the product or service. "For a transaction to take place, given the ideal...
Unfortunately, there have been circumstances in the past where the misrepresentation of products by the advertiser has lead to destruction of trust and representation; case in point the pyramid philanthropy program designed by John G. Bennett (Shell & Moussa, 312). Bennett took it upon himself to articulate to donors that their donation would be matched, and after earning donors trust by way of marketing key players in the financial investment community, money came pouring to Bennett's plan. Little did the investors realize, there was no matching program. This is but one example of how a products misrepresentation to the public resulted in Bennett's imprisonment and disaster for small colleges.
The intentions Bennett were originally, in theory, sound. He had built relationships with key players and donors, and because of these relationships skills he was creditable to the people he sought donations from; this creditability relied upon the name brand of key participants (Shell & Moussa, 311). As any good advertising agency understands, honing in on the target markets needs and communicating effectively to a diverse audience made Bennett visionary, and this targeting added to people's value and belief system (Shell & Moussa, 311). Bennett also understood that allowing individuals to make their own…
Works Cited
Goldman, Alan. The Justification of Advertising in a Market Economy. New York: Random House, 1983. Print.
Shell, G. Richard, and Mario Moussa. The Art of Woo: Using Strategic Persuasion to Sell Your Ideas. New York: Portfolio, 2007. Print.
Von Hayek, Friedrich. The Non-Sequitur of the 'Dependence Effect'. Southern Economic Journal, April 1961.
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
The main advantage of the convention is that they provide an opportunity for candidates to define themselves in a positive way and for the party to heal itself after a decisive nomination battle. 2. The electoral college is the means by which presidents are actually elected. To win a state's electoral votes, a candidate must have a plurality of votes in that state. Except in two states, the winner takes all. 3.
Of course, it becomes a very difficult matter to overcome sparse levels of availability when they are encountered (e.g. In the more remote regions of Western Australia). Taken together, the issues suggest that the impact of availability policy on the use of alcohol may be as heterogeneous as patterns of availability themselves. The reduction of one outlet in an urban area has significantly different meaning and implications than the reduction
The buzz is mainly employed for ensuring rise in the sales, which will correspondingly result in the higher profits. There have been different products including Trivial Pursuit, Cold Mountain, and Hotmail which were able to achieve the focus and attention in the market not through the medium of advertising, but solely through buzz (Margo, 2006). If the buzz is used in appropriate manner, it supports advertising of the product
McDonald's Integrated Marketing Campaign This paper is divided into two distinct sections. The first chapter is based on literature reviews of various scholarly works that are related to the topic of integrated marketing campaign that are also relevant to the McDonald marketing campaign that was created to celebrate the inherent democracy of the McDonald's brand. The first chapter is further divided into three parts; the first section mainly focus on advertising
He also asserts that government participation in the arts beyond its role as a consumer can pose significant hindrances to the artistic processes. He claims that politics tends to "seek stability, compromise, and consensus," and as a result avoids supporting art that may "offend majority opinion or go over its head" (38). The market, on the other hand, has "liberated artists…from the potential tyranny of mainstream market taste" (23). Is