Question

Write the short note on ethics in marketing

Answer 1

Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. It seeks to promote honesty, fairness, and responsibility in all advertising. Ethics is a notoriously difficult subject because everyone has subjective judgments about what is “right” and what is “wrong.” For this reason, ethical marketing is not a hard and fast list of rules, but a general set of guidelines to assist companies as they evaluate new marketing strategies.Principles of Ethical Marketing*.All marketing communications share the common standard of truth.*.Marketing professionals abide by the highest standard of personal ethics.*.Advertising is clearly distinguished from news and entertainment content.*.Marketers should be transparent about who they pay to endorse their products.*.Consumers should be treated fairly based on the nature of the product and the nature of the consumer (e.g. marketing to children).*.The privacy of the consumer should never be compromised.*.Marketers must comply with regulations and standards established by governmental and professionalorganizations.*.Ethics should bediscussed openly and honestly during all marketing decisions.There are distinct advantages anddisadvantages to ethical marketing. Unethical advertising is often just as effective as it is unethical(See alsoBlack Hat Marketing). And since unethical behavior is not necessarily against the law, there are many companies who use unethical advertising to gain a competitive advantage.