The codes of practices include the aspect of providing accurate information and not making any false claims. The code of practices regarding marketing operations also states that no scientific data will get quoted until and unless there claim can get proved. The code of practice will impact the marketing operations by providing goods that must be ‘merchantable quality’, will be matching any description and will be suiting the specific purpose regarding which they were described. The impact of legislation and regulations on marketing operations state that when products or services get promoted, there is the requirement for ensuing that any branding, or quoting is not false or misleading. Promotions for a specific amount will get regulated by the State or territory via a permit. The marketing operation needs to get complied by the privacy legislation as well as spam regulations. When there is the need for exporting the products or services, there is the requirement for ensuring that an awareness should be there regarding any international regulations that might be influencing the decision related with pricing. The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
Impact of relevant legislation, codes of practice, ethical principles, and national standards on marketing operations
Describe the statistical methods and techniques for evaluating the marketing opportunities
FitLife is a privately owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art health clubs to swimming pools, sport clubs, squash courts, and many other facilities.
The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macro-environment study established a groundwork to prepare this strategic analysis and marketing plan. The main motivation is to mine and develop new market opportunities targeted to specific customer niches ( Babin 2015).
Conclusion
The impact of ethical principles on marketing operations states that every marketing communications will be sharing the common standard of truth, the marketing professionals needs to follow the highest standards of personal ethics, there needs to be transparency amongst the marketers regarding whom they are paying for endorsing their products. The marketers are required complying with the regulations as well as standards that the governmental as well as professional establishments have established. There is the requirement for having open and honest discussions related to marketing operations for the ethical aspects.
Reference
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Facione, P. and Gittens, C.A., 2015. Think critically. Pearson.
Farris, P., Bendle, N., Pfeifer, P. and Reibstein, D., 2015. Marketing metrics: The manager’s guide to measuring marketing performance. FT Press.
Malhotra, N.K., 2015. Essentials of marketing research: A hands-on orientation. Essex: Pearson.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.
Pride, W.M. and Ferrell, O.C., 2016. Foundations of marketing. Cengage Learning.
Strauss, J., 2016. E-marketing. Routledge.
Zikmund, W.G., D’Alessandro, S., Winzar, H., Lowe, B. and Babin, B., 2014. Marketing research. Cengage Learning Australia.
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