Marketing Ethics Essay
Lecturer of Marketing
Center for Management Development (CMD)
Dr. K.N Modi Foundation
Modinagar – 201204
Email id- firstname.lastname@example.org
|Markets present a clash of interest between various players. There is competition for resources, customers and price etc, which breeds ground|
|for activities that may not get ethical sanctions. A certain code of conduct, policies and practices called ethics are required to manage |
|markets and …show more content…
|analysis of Marketing Mix and some other major Marketing issues, Ethical Norms and Values for Marketers and finally few CSR initiatives by |
|few Indian/MNCs. |
What are Ethics (In Marketing Context)?
Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics are a collection of principles of right conduct that shape the decisions people or organizations make.
Ethical marketing is a process through which companies generate customer interest in products/services, build strong customer interest/relationships, and create value for all stakeholders by incorporating social and environmental considerations in products and promotions. Practicing ethics in marketing means deliberately applying standards of fairness, or moral rights and wrongs, to marketing decision making, behavior, and practice in the organization. For marketers, ethics in the workplace refers to rules (standards, principles) governing the conduct of organizational members and the consequences of marketing decisions (Ferrell, 2005). Simply put, ethics means principle or values by which marketing ought to be conducted in the market place. Logically also when there are huge number of transactions involved,