Assignment 3: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property
LEG 500: Law, Ethics & Corp. Governance
Prepared for: Dr. Ellen Kapalko
Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety.
Marketing and Advertising
Every aspect of the marketing and advertising mix is subject to laws and restrictions. Every marketing manager will be confronted with how they must address ethics and law. Each marketing executive knows that rarely are there cut and dry answers to ethical issues that will arise during the normal course of business. (Lamb, McDaniel, & Hair, 2010). One ethical issue that will occur in marketing is how to be socially consensus. When a product is being marketed and advertised to a particular group, there must be ethical consideration of how this will affect the people you are targeting. Will this be considered stereotyping? Is this offensive to a particular group? Is it culturally sensitive? A marketer and/or advertiser must answer these and other ethical issues: What are the potential magnitudes of the consequences? What is the probability of a harmful outcome? What is the extent of the ethical problems within the organization? All are legitimate and expected questions that will arise from just the social responsibility in marketing and advertising. Intellectual property
In intellectual property is necessary to give one the right to protect and own his work with the arrival of the digital age it has become much harder to remain in control of a person’s intellectual property. This is because the intellectual property rights no longer protect exclusively the interest of preserving a trade secret but is now interested in preserving the monetary gain of a person. Regulation of product safety majorly involves the consumers act which aims at providing quality and healthy products to customers. (Borgerson & Schroeder, 2002) Regulation of product safety
The ethical practice of any business to ensure that they give quality products while practicing social responsibility to the consumer. Product safety engineers are expected to determine the safety of products, obtain agency certifications for the products, and examine and test the products according to various standards. However, this is where ethics of the individual can be tested. As we learned in the CompCARE scenario, the safety engineers became aware of issues surrounding the product yet management ignored the risks for the high rewards and profits that PharmaCARE received. This continues to be an ethical issue with the regulation of product safety. It has been noted that if we stress higher standards for product safety, for example, not allowing the product to be manufactured in countries where we cannot regulate the conditions of the facility. We continue to have sweatshops that produce many of the products we use on daily basis. Argue for or against Direct-to-Consumer (DTC) marketing by drug companies. Whenever we are watching our favorite prime time specials or shows or even sporting event, it comes that awkward moment when a direct to consumer ad comes on for those suffering with erectile dysfunction. There is that moment that someone reaches for the remote before they read the line of what to do after 4 hours. Direct to consumer (DTC) ads are a nuisance and can take a great moment in your household from excited to anxious when the many side effects are mentioned by the announcer who makes them sound so very insignificant. As referenced on the FDA’s webpage, these side effects lists are required for each of the ads. Provided by drug companies, these ads are aimed at a general audience, and not at health care professionals such as doctors, nurses, and pharmacists. The ads are broadcast on TV and radio, and published in magazines and newspapers normally is...
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