MARKETING PRINCIPLES AND BUSINESS CHARACTERISTICS

Marketing Principles and Business Characteristics

[Name of the Institute]

Introduction3

Viewpoint4

Factors influencing Marketer's Behaviour6

Conclusion8

References10

Marketing Principles and Business Characteristics

Introduction

Individuals tend to seek for their own interest and advantage while working in any field. People work to earn money so that they can fulfil their basic needs and requirements. People seek for good opportunities to enhance their standard of living. Adam Smith believes that every individual aims to work and accomplish his personal goals and targets. He believes that if a man is selling food products, so he desires to earn money in return. He is not doing it to fulfil the basic needs of others by providing them with food. Adam Smith believes that a man sells goods and products to earn money and other advantages. He says that individuals do not intend to promote public interest. In fact, they are looking for their own gain advantages from others. The statement presented by Adam Smith helps in looking at different aspects of individuals. Adam Smith is one of the well-known sociologists who have presented various ideas and concepts regarding societies and social life (Farell & Gresham, 1995, pp. 87-96).

This paper focuses on the concept of self-interest and how people work for gaining personal benefits. The paper provides various examples of how people perform different tasks for their interest. It shows that no one in this world is intending to promote public interest (Farell & Gresham, 1995, pp. 87-96).People living in societies are selfish, and they work for their personal interest. The paper analyses the role of marketers and how they influence people to purchase their products and avail their services. The different factors influencing the role and activities of marketers are also discussed in the paper.

Viewpoint

Adam Smith has challenged the work of marketers in any organization. Marketers aim to promote products and attract people by informing them about the product features and characteristics. Marketers play an important role in the organization by attracting customers and building long term relationships with them (Kotler, 1986). Marketing involves ethics and this statement of Adam Smith is invalid for the idea of ethical practices of marketers. Adam Smith's viewpoint makes the idea of marketers can act ethically invalid to a great extent. Adam Smith considers individuals as greedy and selfish (Palmatier, Grewal & Evans, 2006, pp. 136-143).

According to Adam Smith's viewpoint, organizations look for their own benefits and advantages. They seek for their own profit and develop their products and services accordingly. Organizations plan everything for their own interest and the labour force works in the organization for their own interest (Porter, 1998, pp. 7-11). This shows that according to Adam Smith, every individual works for his own interest and has no intent to promote public interest (Terleckyj, 1976, pp. 265-272). Organizations hire people on the basis of their skills, abilities and talent. They want to earn profit from people by utilizing their skills and abilities in producing products and services. In the world, every individual aims to seek for his own ...