Summary of the business research project When a firm is about to launch a product, it often carries out market research to gather data from the targeted consumers about their perceptions of the new product offering. Market research is also meant to determine the chances of viability of the product in the market. However, there are certain ethical principles that ought to be followed when carrying out market research. Unethical practices that should be avoided when carrying out market research According to Kotler & Armstrong (2010), marketing researchers should adhere to a set of ethical principles when carrying out a research about a particular good or service offered.
All most all people in the targeted market are impacted by the activities of the marketers hence there are certain actions that should be avoided at all costs. The researchers should strive to be truthful and honest all the time in order for them to come up with a credible and viable offering in the market. This helps to create trust among the targeted consumers of the product to be launched.
When the marketers are truthful the consumers can make informed decisions and this also helps the organization to gain the trust of the people. Parties that could face injury The researchers and the participants could face injury if the research has not been carried out properly. If the researchers engage in unorthodox practices in carrying out the research such as misrepresenting facts as well as failing to seek consent from the participants before engaging them in the study, they are likely to face severe criticism that can dent the image of the organization as a whole.
The organization is likely to lose credibility in the event that the targeted consumers have discovered that the marketers lied in order to appeal to the interests of the customers with regards to the features of the new product to be launched. The targeted consumers could also face injury in that they would be denied the truth about the new product to be launched.
The decisions they are likely to make are not informed and this can negatively impact on them at the end of the day. It is essential for the customers to have access to information about a particular product so that they can be able to make wise decisions. How this unethical behaviour can affect different stakeholders Any form of unethical behavior in this research can affect the organization in several ways. Its image is tarnished and this ultimately leads to loss of credibility in its operations.
This is likely to result in many customers switching brands and this move can impact negatively on the operations of the organization. If an organization witnesses the flight of customers, its sales are likely to decline which can force the company to close shop. The individual is also impacted negatively in that he or she is denied the opportunity to exercise the right to get the correct information about the product they purchase. The buying behaviour of the consumers is mainly influenced by the information they have about a particular product (Strydom, 2004).
However, if this information is lacking, the individual suffers and can end up buying a product that does not satisfy his or her needs. The society at large is also affected negatively as a result of unethical practice by the market researchers. The members of the society would also be denied the much needed information that can help them to make informed decisions with regards to purchasing the products offered in the market. How to monitor unethical behaviour There are different measures that can be taken in order to monitor the unethical behavior if it has been found to be occurring.
The first step is to completely bar the practice once it has been found to exist. This helps to prevent the image of the company from deteriorating further. A public relations campaign ought to be implemented in order to help rebuild the battered image of the organization. Effort should be made to try to regain the confidence of the targeted consumers through providing them with all the information about a product they may require in order to make informed decisions when they decided to purchase a new market offering.
It is also essential to monitor all the sources of information to make sure that they are credible. If these measures are carefully implemented, the organization stands better chances of regaining the confidence of the targeted audiences. References Kotler, P. & Armstrong, G. (2010). Principles of marketing. 10th Edition. CT: JUTA. Strydom, J. (2004). Marketing. CT: JUTA.