From this section, I leant that in as much as there is a lot of room in the global market; multinational companies cannot join the global market unless they follow the ethics of global marketing. In this regard, most companies find themselves held up in this dilemma between the social and economic goals (Sele, 2006). In addition, public relations play a significant role in the establishment of an international business especially in relating with the local people.
Marketing ethics can help a company understand the needs of the local people. This way the company can introduce the right products to the market. The application of marketing ethics ensures that the company has taken care of the interest of the client and considered product safety for the sake of the client.
It is necessary for the multinational companies to identify suitable strategies that will boost the company’s image in the global market. The marketing personnel have to find a way to maximize on both the advertisement and publicity by use of mass media. It is beneficial for the marketing personnel to use virtues such as honesty and integrity in the global market.
It is beneficial for a multinational company to integrate the different opinion of its clients so as to know how to establish its business. The company should also be careful to note the cultural habits and preferences that may determine the products to introduce in the market.
In the marketing department, it is useful to apply the tactics and techniques of marketing to improve the company’s image. It is useful to involve some tactics such as advertisements and publicity. These go a long way in improving the image and awareness of the company in its market area. Through Public relations; a company can have a reputable brand name.
The ethics learnt in the first module can be useful in professional marketing. On the other hand, it is strategic to integrate different cultures into their business strategies so as to maximize on the opportunities at hand (Newsom, Turk & Kruckeberg, 2004).
The ethics discussed in these chapters are applicable in personal life. There are also five core virtues which are significant in life. That is integrity, respect, trust, fairness and empathy. In addition, honesty is the best policy while handling matters that concern personal life. The company is supposed to be careful on the products that present to the market, so it is in personal life. People have to be careful on the likes and dislikes of each other (Sele, 2006).