Company: Nestle
Prompt: Develop recommendations to improve your selected company’s marketing strategies in order to reduce the risk of unethical marketing practices occurring in the future. Include the following critical elements: I. Recommendations: In this section, you will develop recommendations to improve the company’s marketing strategies in order to reduce the risk of unethical marketing practices occurring in the future. A. Competitive Intelligence 1. Explain what the company needs to take into consideration regarding competitive intelligence in an international market. 2. Recommend strategies to improve the company’s competitive intelligence approach. 3. Explain how your recommendation will ensure the company meets legal and ethical standards. B. Pricing Strategies 1. Determine the potential impact(s) of the company’s recent unethical marketing practice on their pricing strategy. 2. Recommend pricing strategies that should be in place to address the potential impact(s) you identified. 3. Justify how your recommendation will promote fair pricing across target markets. Support your justification with applicable ethical standards. C. Promotion and Product Liability 1. Explain what the marketing department of the company should implement to confirm that the product they are marketing is safe and reliable, including examples of what to look at and how to be informed. 2. Describe what marketers within the company should do if they discover that a product they are promoting is not safe and/or reliable, explaining the connection to the industry ethical standards. 3. Briefly discuss how following this plan may help to mitigate future product liability claims against the company.