Legal and Ethical Considerations in Marketing, Product Safety, and Research Paper - 1

Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property - Research Paper Example This particular industry is quite sensitive industry. The ethical issues in the marketing and advertising, intellectual property and regulation of product safety are discussed below. Marketing and advertisement is an effective communication tool that helps an organization to communicate with the end customers regarding the introduction of new product. First of all, several pharmaceutical companies implement competitive pricing strategy and promote their drugs and several products in economic price level compromising with the quality of the products. It can actually affect the health of human beings as several side effects of these drugs can create several problems in body. Secondly, the organizations used to provide emotional adverts and wrong information about the products. It is quite unethical to provide this wrong information. Thirdly, CompCare the subsidiary of the PharmaCare used to and market specific products although the compounded materials were not supposed to sold in bulk . Wrong information about client list, quality issues of drugs and price war between the organizations can be considered as the major ethical issues in marketing and advertising. ... In terms of the regulation of the products safety, the organization faces several critical issues. Providing drugs in low price level to the people of low income group without considering the quality aspect can be considered as one of the ethical issues. Inadequate quality of the pharmaceutical lab can be considered as one of the major issues in the product safety regulation. Inadequate composition in several drugs became issues for the PharmaCare. 2. Argue for or against Direct-to-Consumer (DTC) marketing by drug companies Direct-to-Consumer has considered a one of the important marketing communication tools for several healthcare or pharmaceutical organizations. This DTC marketing process is quite useful and can help the society to overcome several challenges. It is true that advertising and promotion is important for each and every organization to create awareness about the products and services in the minds of the target customers (Doern & Prince, 2012). It is true that the pharm aceutical companies provide effective solutions to several critical diseases that can take away the priceless lives of human beings. After strong research and hard work, the pharmaceutical companies succeed to make a solution to these diseases. Therefore, it is the responsibility of the governments and several public bodies to increase awareness about these drugs that can ensure good health and safety of the mankind. DTC can be considered as an effective marketing communication tools. It is true that several organizations used to follow unethical steps in order to maximize business profits. But, it is true that the society and community cannot get benefits until and unless the people within the society cannot get aware about