Using this video how do the concepts presented affect business decision making especially in marketing and direct marketing?
Businesses consider a number of factors before making a fruitful decision in direct marketing. These decisions are usually based on how it will create the image of the business and how it will be able to lure as much customers as possible. Some of these considerations might make a business to engage in dishonesty activities with the main aim being able to maximumly convince their target audience that that particular business is perfect for them. From the video, “The Truth Behind Lies,” we see individuals who engage in dishonesty practices that they themselves came to justify as wrong and it landed them in trouble. The concepts presented in this particular video especially the end result that befell those who engaged in dishonesty practices is that business ought to make honest decisions if they do not want to land into troubles for their actions.
How does dishonesty in marketing or business impact the ability of others to succeed?
Depending on the market setting, dishonesty in marketing can either lead to success or failure in business. Regarding success, there are some markets that are not regulated and dishonest actions result in the success of businesses there. One will find almost every other business engaged in dishonest practices and is taken as a norm. However, in some market settings, engaging in dishonest activities might break a business. Competitors and customers in most occasions would cause a company that engages in dishonest activities not to succeed. This normally happens when the deceptive marketing practices of a business entity is finally known. If for instance a rival business comes to know that one of its competitors is engaging in deceptive marketing activities with the aim of succeeding, this rival business can challenge the affected business in a legal battle that can break the affect business.
What would happen if every company adopted deceptive practices (Financial Market Scandal)?
In some cases, you might find that every company in a given market adopt deceptive practices. This mostly happens in a perfectly competitive market where almost every practice in one business is identical to the other. In this kind of markets every business knows about the action of the other. Therefore, if a business adopts a deceptive practice that makes it do well in the market others will know about it and follow suit because everybody is for himself. If I happen to have a company in this kind of market where every company has adopted deceptive practices, I will have no other choice but to also do the same for purposes of business survival. This is because it would be difficult to convince consumers that you are the one who is engaging in an honest marketing tactics. In such environment, “the majority is always rights.”
