Research & Development Business Ethics

Research & Development

The research and development (R & D) department is responsible for the new product development, improving existing products, and creating and improving product design. The R & D department is also responsible for improving and creating product design and performance as well.

Marketing

The marketing function of a business is either done by a specific department or by everyone in the organization. Marketing is about identifying and meeting the needs fo the customer. One way to understand marketing is to look at the marketing mix, also known as the four P’s of marketing (Ivy, 2008):

• Product – Who are the customers? What do they want? Which products are we offering? How are these products selling?

• Price – How much should be charged? Should the price be increased or decreased? What discounts can be given?

• Promotion – How do you let customers know about your products? Should samples be given?

• Place – Product distribution. Should the product be sold wholesale or through a retailer? Should the product be sold online only, store front only, or both online and storefront?

Manufacturing

The manufacturing function involves the production and distribution of the product. The production involves the creation of a product for the organization. Production also involves ensuring quality and targets are being met accordingly. Distribution is the assurance that the products are going to make it to the organization during a designated period of time. Distribution also insures that the product is going to be delivered to the right place, right time, and in the best condition.