Public Policy Principles Towards Marketing

Business Management Sales & Marketing

The concept of public policy marketing could allow governments to "sell" their policies to citizens through non-commercial marketing interactions that are unique to the public sector. Then, social behavior should be viewed as citizens' reciprocation, contributing to the government's desired social outcomes. Public policy marketing is predicted to improve the implementation of government policies when citizen behavior is important to success.Following are the key Public Policy Principles in Marketing −The Principle of Consumer and Producer FreedomConsumers and producers should have as much freedom as possible when it comes to marketing decisions. If a marketing system is to produce a good level of living, marketing independence is critical. People can find happiness on their terms rather than on someone else's terms. As a result of a closer match between items and desires, there is a stronger sense of fulfilment. A dynamic marketing system is built on the freedom of producers and customers. However, further principles are needed to put this freedom into practice and prevent abuses.The consumer's only right is to refuse or accept what the producers have to give. Similarly, the producer does not have the authority to compel consumers to support his firm and buy his goods and services. The customer does not have the right to compel a producer to sell something, and the producer does not have the right to compel a consumer to buy anything. An exchange (trade) takes place only when both parties agree voluntarily. Neither side is obligated to agree if they do not like the conditions; they are free to look for a better offer elsewhere.The terms on which his money is traded are determined by the consumer. And the terms on which his good or service is traded are set by the producer.It is not the producer's responsibility to serve the customer's interests, nor is it the consumer's job to serve the producer's interests; both must serve their own. Trade - a voluntary exchange of value for value – occurs only when their interests meet.The Principle of Curbing Potential HarmTransactions voluntarily entered into by producers and customers are, as much as feasible, their private business. Transactional harm is widely recognized and the political system restricts producer or consumer freedom solely to avoid transactions that harm or threaten to harm the producer, consumer, or third parties.The Principle of Meeting Basic NeedsThe marketing system should benefit both low-income and high-income customers. Producers make items for markets that are willing and able to buy them in a free-enterprise economy. Certain groups with limited purchasing power may go without essential commodities and services, putting their physical and mental health at risk.Marketers should support economic and political initiatives to remedy this problem while maintaining the idea of producer and consumer freedom. The marketing system should try to meet all people's basic requirements, and everyone should benefit from the higher standard of life it provides.The Principle of Economic EfficiencyThe marketing system aims to provide goods and services on time. The efficiency with which a society's resources are used determines how well its demands and wishes may be met. The system requires competition for marketing to function effectively. Competition, free flow of commodities, information freedom, and knowledgeable purchasers are all benefits of an open market. These factors contribute to the efficiency of a market.Competitors must constantly monitor expenses while producing items, prices, and marketing strategies that meet buyer needs to profit. Buyers will be best satisfied if they research competitor items, prices, and characteristics before making a decision. Because of the strong competition and well-informed buyers, quality remains good and prices remain reasonable. Competition, on the other hand, brings out the best in products and services.Producers who attempt to provide the best value are likely to succeed.The Principle of InnovationGenuine innovation is encouraged by the marketing system to lower production and distribution costs and develop new products to fulfil changing consumer needs. Much innovation is only a clone of other companies with a minor distinction to serve as a differentiator. In a given product category, a consumer may be confronted with ten extremely similar brands.An effective marketing system, on the other hand, stimulates true product innovation and long-term differentiation to fulfil the needs of various market segments.The Principle of Consumer Education and InformationConsumers are battered with so many goods and services as a result of advances in science and technology. There is also a competition to see who has the best product. Most consumers are perplexed by today's smart advertising and are unsure of what to buy and what not to buy.Consumer education is the process of equipping individuals and families with the required knowledge and skills to become informed consumers. A well-educated consumer will be able to discern or appraise information and make informed decisions from a variety of options.However, consumer education is critical. It is because −<ul class="list"><li>It assists the customer in determining how and where to obtain the goods and services required.</li><li>It informs the customer about their rights.</li><li>It informs the customer about potentially hazardous and substandard goods and services.</li><li>It enables the customer to discern or assess consumer information to interpret the information accessible about the goods and services they are purchasing. Expiration dates, weights, and brand names, for example.</li><li>It allows the buyer to get the most value for their budget.</li><li>It assists the user in reducing waste in their consumption.</li></ul><h2>The Principle of Consumer Protection</h2>Consumer education and knowledge are insufficient to safeguard consumers. Consumer protection is also a requirement of the marketing system. Even trained consumers cannot confidently evaluate modern items because they are so complex.For example, consumers have no way of knowing if a cell phone emits cancer-causing radiation, if a new car has safety issues, or if a new pharmaceutical product has severe side effects.A government agency is responsible for evaluating and judging the safety of various foods, medications, toys, gadgets, fabrics, automobiles, and housing. It must also analyze the professionalism and integrity of service providers such as banks, insurance firms, doctors, and police forces.Consumer protection also involves production and marketing operations that may harm the environment because consumers may purchase things without understanding the environmental repercussions. Finally, consumer protection guards against misleading methods and high-pressure sales tactics that leave customers defenseless.<h2>Conclusion</h2>These seven principles are founded on the notion that marketing's purpose is to balance maximizing life quality with maximization of firm profits, total consumption, or consumer choice. Life quality entails meeting basic necessities, having a wide range of high-quality products available, and taking pleasure in the natural and cultural environment.The marketing system, when properly managed, can aid in the creation and delivery of superior quality of life for people all over the world. As a result, the execution of the marketing concept can be viewed as a productive activity rather than a destructive evil. Responsible marketing is effective.

Abhishek Sengupta

Updated on: 22-Jun-2022

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