Impact On Society Unlike traditional marketing focus, which was cost reduction and profit increase, socially responsible marketers are more focused on providing goods and services consumers want, gaining feedback for improvement and giving back to the communities that helped them become who they are.
The sellers discriminate in age, sex, location, caste, complexion, religion with the customers.
Analyse and assess how much ethical marketing will cost the company and compare this against the benefits of ethical marketing in the long run.
Responsibility — Accept consequences of marketing practices and serve the needs of customers of all types, while being good stewards of the environment. Suppose a person makes a promise but he does not keep it then no principle which can universalize the action and such promises have no meaning.
Sacrificing norms for higher profit ix. Ethical Marketing in General Ethical Marketing is a philosophy that focus focuses on honesty, fairness and responsibility. Once the problem is identified the company can collect data to help improve the product and reduce or eliminate the danger.
Improved quality of recruits and increases retention: As an example, an over crowded website with lots of ads dumped onto it will be easily spotted if the marketers were to Importance of ethics in marketing essay this method.
The categorical imperative according to Kant is binding on everybody. Fairness — Balance buyer needs and seller interest fairly, and avoid manipulation in all forms while protecting the information of the consumers.
Sense of Mission A clearly defined corporate mission will help companies be clear about their plans, goals, and practices.
However, there can also be some problems that arise from trying to employ an ethical marketing strategy. Improper market research and grouping can lead to stereotyping that shapes undesirable beliefs and attitudes and consequently affect marketing behavior.
Exploitation — avoid using scare tactics and hard sell and protect the vulnerable consumer. Think about long term effects, not short term gains — short sighted companies will undervalue the impact of responsible marketing for instantly gratifying increase.
Remaining indifferent to standards of global environment iii.
According to Bentham if any action increases the happiness of the community then it is an improvement. These values facilitate best practices when transacting business with the public and all involved.
Marketing in ways like cold calling through telemarketing companies that purchase leads are not only annoying, they are disruptive and untrustworthy. Truthfulness, which is an accurate representation of products and support of claims, made. Not giving adequate attention to the social causes.
Advertising should be transparent about possible side effects and not puff up results, so clients come to respect the honesty of your advertising. We may list them in the following manner.
The introduction of the statement reads in summary that values are the representation of the collective idea of desirable and morally correct conduct. Unsolicited approaches are these days almost synonymous with direct marketing and has left the industry with a tainted reputation.
Like utilitarianism it does not apply to effects of actions rather it says when we do our duty then our action will have moral worth.
And setting up barriers that prevent smaller companies from entering the market is unethical as well. Define what is ethical marketing for your firm. Decide which branch of ethics your marketers will apply. Apple brand is famous for having people happily wait in line overnight to be first to own an upgraded product.
Speak up against company policies that do not reflect the ethical profile of the company — as the face of the company, marketers should voice their concerns when there is a potential for a practice to be seen as unethical.
The ethical environment and issues are a major part of modern business, without ethics business remains no longer a generic organisation.
Philanthropic gestures for public relations — giving to charities solely for a tax write off will make the company appear callous and uncaring and people tend to shy away from these types of companies and spend money where they feel the leaders and marketers are especially humane and gracious.
Misleading Advertisement and Information —any exaggerated claims or dishonest promises will cause the customers to mistrust you and even determine the failure of your brand.
The principles of this code include: It is in doing so that your customers, the press, and all those watching will be impressed. Morality has priority over other standards including self-interest. Determine how the ethical approach to marketing will be implemented.The Importance of Ethics in Business Essay Words 6 Pages Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (mi-centre.com, ).
Though the pursuit of social responsibility and ethical marketing does not automatically translate into increased profit, it is still the responsibility of the firm to ensure it is responsible for its actions and their impact on society.
This article will study, 1) understanding business ethics and. Ethics imply individual character and also indicate the set of rules which determine the right and wrong. Broadly Ethics means what is called moral and unethical means immoral. Unethical means bad or wrong actions. Importance of ethics in marketing research The ethical concepts are playing a vital role that is essential for marketing and it can address whether a certain action is right or wrong.
The marketing perception, decision making as well as planning were based upon the ethical considerations and the unethical practices of marketing can be mitigated by.
Another characteristics from business ethics is social contract, the social contract responsibility is one of the most important subject in business ethics, it can divided to three parts, first is social responsibility which stakeholder responsibility included, second is profit responsibility of share holders, and last one is affirmative responsibility.
Marketing Ethics Essay Words | 3 Pages. Marketing Ethics The question of whether or not marketing is completely unethical is the question most critics of marketing seem to be focusing their attention on.
Ethics provide the basis for deciding whether a particular action is morally good or morally bad (Britt ).Download