Ethics in Modern Marketing

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Ethics in Modern Marketing

Abstract:
The success of every marketing company depends upon their involvement towards their customers. The modern marketing concept mainly stresses the importance of developing a good relationship by every marketing company with its customers to enhance their business and to withstand in the competition. During the last two decades, marketing professionals were increasing their awareness of customer/ client relationships; society has become much more aware of ethical issues. As competition increases, the marketers are involved in some unethical activities to compete and attract the customers. But the customers are more aware and they have more options for every product. They are giving high importance for quality rather than cost. Unethical practices will create a bad opinion over the product and the marketer and in turn it will result in vanishing of that business.

Keywords: Modern marketing, customers, ethical issues, competition, customer relationship.

Introduction:
Marketing can be defined as an activity or process that involves “creating, communicating and providing value delivery to the clients and the relationship with them in advantage of the organization and its shareholders”. From this definition apparent role in society of those involved in marketing activities are: to be responsible for carrying out actions to persuade consumers in different markets segments, that, for a price, to benefit from products and services that meet their needs and fulfill their expectations and desires.

Considering that the marketing aims at determining and influencing the purchasing behavior and that competition in modern economy is more intense and unscrupulous, an important issue that arises is that workers in marketing, as well as professional category may be tempted to behave unethical to achieve their objectives. Marketers today face big challenges as they try to make their marketing messages heard. Practitioner estimates suggest that consumers are exposed daily to thousands of marketing communications. This proliferation of marketing communications not only has created unprecedented levels of perceived disorder; it also has led to heightened contempt for corporations by many consumers who actively seek to avoid marketing communications from any source.

Modern marketing concept:

An academic called Grnroos defined marketing as “to establish, maintain and enhance relationships with customers and other partners, at a profit, so that the objectives of parties involved are met. This is achieved by mutual exchange and fulfillment of promises.” By engaging with their customers marketing professionals are able to secure report business. Loyalty schemes are a device for building that loyalty within the retail and customer service sectors. Marketing professionals talk in terms of fulfillment, meaning fulfillment of their relationship with the customer.  During the last two decades, while marketing professionals were increasing their awareness of customer/ client relationships, society has become much more aware of ethical issues. Ethical issues are concerned with making appropriate responses to social situations. Failure to make the correct social response can expose a business to reputational issues, the unwelcome attention of political activists and legal sanctions. A modern business that is interested in developing long term relationships with their customers and other stakeholders has to take an interest in ethics.

Ethical problems raised in modern marketing
Not a few times, marketers are usually blamed for launching and promoting on the market, the low quality products to compete in certain segments of the market price. Also the complaints relate to a significant increase in the price (to preserve brand image, or to save profits encumbered by high costs of advertising campaigns)., thus depriving clients with smaller financial possibilities of access to some products and...
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