Principles for Public Policy Towards Marketing
Finally, we propose seven principles that might guide the formulation of public policy toward marketing. These principles reflect assumptions underlying much of modern marketing theory and practice.
The Principle of Consumer and Producer Freedom
As much as possible, marketing decisions should be made by consumers and producers under relative freedom. Marketing freedom is important if a marketing system is to deliver a high standard of living. People can achieve satisfaction on their own terms rather than in terms defined by someone else. This leads to greater fulfillment through a closer matching of products to desires. Freedom for producers and consumers is the cornerstone of a dynamic marketing system. But more principles are needed to implement this freedom and prevent abuses.