Consider a company that markets a men's cologne and aftershave product. Marketing has decided that the...

 

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Consider a company that markets a men's cologne and aftershave product. Marketing has decided that the brand needs a makeover. It has determined that a product revamp would be a good way to generate excitement about the brand, which used to be a big seller but now looks as if it's headed toward the decline phase of the product life cycle. The company plans to do the following: redesign the label, deepen the color of the bottle to distinguish it from the older version, and reformulate the product by increasing its scent. The product will be relaunched with a new and improved sticker on the front of the bottle. Use the ethical decision-making framework to answer the following questions: Who are the stakeholders affected by this decision, and what is its impact on them? Assume you are the vice president of marketing and have the final say as to whether the product will be advertised as new and improved. Would you feel comfortable making that claim? What other changes could be made to the product to support the company's new and improved claim? Consider a company that markets a men's cologne and aftershave product. Marketing has decided that the brand needs a makeover. It has determined that a product revamp would be a good way to generate excitement about the brand, which used to be a big seller but now looks as if it's headed toward the decline phase of the product life cycle. The company plans to do the following: redesign the label, deepen the color of the bottle to distinguish it from the older version, and reformulate the product by increasing its scent. The product will be relaunched with a new and improved sticker on the front of the bottle. Use the ethical decision-making framework to answer the following questions: Who are the stakeholders affected by this decision, and what is its impact on them? Assume you are the vice president of marketing and have the final say as to whether the product will be advertised as new and improved. Would you feel comfortable making that claim? What other changes could be made to the product to support the company's new and improved claim?