Ethics in Marketing

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I have chosen to write on this topic” Ethics in Marketing” because ethics in general always impact many aspects of businesses. Therefore, it is interesting to research how it impact marketing. Ethics are a collection of principles of right conduct that shape the decisions people or organizations make. Practicing ethics in marketing means consciously applying standards of fairness, or moral rights and wrongs, to marketing decision making, behavior, and practice in the organization. In a market economy, a business may be expected to act in what it believes to be its own best interest. The purpose of marketing is to create a competitive advantage. An organization achieves an advantage when it does a better job than its competitors at satisfying the product and service requirements of its target markets. Those organizations that develop a competitive advantage are able to satisfy the needs of both customers and the organization. As our economic system has become more successful at providing for needs and wants, there has been greater focus on organizations' adhering to ethical values rather than simply providing products. This focus has come about for two reasons. First, when an organization behaves ethically, customers develop more positive attitudes about the firm, its products, and its services. When marketing practices depart from standards that society considers acceptable, the market process becomes less efficient sometimes it is even interrupted. Not employing ethical marketing practices may lead to dissatisfied customers, bad publicity, a lack of trust, lost business, or, sometimes, legal action. Thus, most organizations are very sensitive to the needs and opinions of their customers and look for ways to protect their long-term interests. Secondly, ethical abuses often lead to for institutions to assume greater responsibility for their actions. Since abuses do occur, some people believe that doubtful business practices. As a result, consumer interest groups, professional associations, and self-regulatory groups apply considerable influence on marketing. Calls for social responsibility have also subjected marketing practices to a wide range of federal and state regulations designed to either protect consumer rights or to stimulate trade. Several other areas of concern in marketing ethics will be explored in the remainder of the paper which includes unfair or deceptive marketing practices; objectionable market practices; ethical distribution, among other contributing factors. These will be explored in details are they significantly impact ethical related issues in marketing. As a marketer, you must take responsibility for the consequences of your company’s activities and make sure that any marketing decisions and actions meet and satisfy the needs of your customers as well as the wider needs of society. Your responsibility also extends to other organizations that you deal with, such as suppliers or agencies (Murphy, Laczniak, Bowie and Klein, 2005). You should not demand or encourage unethical behavior in the relationships these third parties have with other organizations. If you are a member of a professional marketing body, you should also ensure that you uphold and advance the integrity and honor of the marketing profession. There are specific rights, duties and responsibilities in your relationship with customers; they involves being able to know that products and services are safe and fit for their intended use. Your product and service communications should not be deceptive. Your contracts should be drawn up in good faith and honored. You intend to discharge your obligations in good faith. You have appropriate processes for equitable adjustment and/or redress of any grievances your customers might have about their purchases. You should respect consumer rights including the right to information, the right to privacy, and the right to redress. You put particular emphasis on safeguarding...
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