...Ethical Issues Affecting Each Component of the Marketing Mix Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. In today’s business world, it has become inevitable to built strong and effectives between all the key players in businesses (Carroll et al 403). The board of directors in every business has the mandate of giving direction and oversight making sure that the business does not stray from its course and remains relevant in achieving its objectives in a socially acceptable, legally acceptable and ethical manner. In many instances of unethical business conduct, there exists a certain degree of compliancy and knowing corporation which acts to perpetuate the acceptance of such conduct. Importantly, most ethical issues come into existence due to conflicts in belief patterns and value conflicts regarding what is wrong or what is right. This occurs because ethical standards are a derivative of deeply-rooted personal believes and societal morals which may not be universally agreed upon. The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when carefully blended, desirable results for the organization are obtained. As marketing managers make decisions about the overall process of marketing, they have to consider the specific elements...
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...One of the most common ethical issues facing healthcare marketing managers, is the issue of effectively ensuring that the item that they are marketing is commensurate with the health and safety of the individuals who will be utilizing the product, due to the fact that many healthcare organizations engage in marketing products that have not been thoroughly tested, and this could cause tremendous safety implications for the general public. So it is imperative that marketing managers seek to ensure that the products that they are marketing to the public at large are actually safe for the consumer to utilize. Another ethical issue facing marketing managers is the issue of marketing the products to the individuals that are most in need of those products, instead of marketing these products to the mass population, as a means by which to increase the profitability of their healthcare organization. Although any individual has the right to purchase a product that is marketed, many individuals do not have the knowledge that is needed to ascertain whether or not the product is absolutely necessary for them, which makes it imperative that marketing managers seek to focus their marketing to those individuals that are in need of the products that they are advertising. A methodology that could be utilized to effectively ensure that the products that marketing managers are marketing are safe for the public, is to ensure that the drugs or other healthcare related products have been approved by...
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...Marketing Ethics 1 Marketing Ethics in Business Jennifer Rebarchick Marketing MBA Misericordia University Summer 2014 Dr. Gargone Marketing Ethics 2 ABSTRACT The field of business ethics and marketing ethics has evolved normatively and substantively over twenty years since the dawn of Business Ethics Quarterly. (Murphy, P. E.; Business Ethics Quarterly. Oct2010; Vol20; I4 (751-733) 3p. There have been positive and negative developments since then. In this paper it will be discussed marketing ethics in business and how this affects the organization I am employed with. I will discuss the definitions of these terms , how ethics is important, what organizations look for in making certain they are following the rules and regulations and some strategies that my organization may look into while dealing with branding or other issues they may face while doing the marketing. DISCUSSION Marketing ethics is defined as the basic principles and values that govern the business practices of those engaged in promoting products or services to the consumers. Sound marketing ethics are typically those that result in satisfaction with the goods and services being promoted. (www.businessdictonary.com) Ethics alone is defined as the basic concept and fundamental principles of decent human conduct. It includes the study of universal values such as essential equality of all men and women, obedience to the law of land, concern for health...
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...Ethical Challenges in Marketing Communication Ethics play an integral role in the development and sustenance of any personal or business relationship. Ethics determine the acceptable behaviors within a society and the overall behaviors of a business. Marketers must understand the impact ethics have on marketing communications and develop Integrated Marketing Communication (IMC) strategies accordingly. This paper will discuss various ethical challenges facing marketers today, identify internal and external factors on IMC, and formulate two ethical questions based upon the analysis. Ethics in Marketing The practice of ethics within an organization is an important but difficult concept to understand and practice. The reason ethics are difficult to manage is that the concept is so subjective (Duncan 2002, pp. 671). Ethical values differ between societies and individual relationships, therefore a company must decide on an ethical communication strategy and portray it as consistently as possible. Duncan (2002) describes three ethical considerations companies must understand when developing marketing communications and relationships with customers. Stereotyping Stereotyping plays a significant role in developing marketing strategies that are both effective and ethical. "The challenge for brands is to develop messages that strike a chord with targeted audiences without reinforcing negative stereotypes" (pp. 672). Companies must ensure that their marketing tactics...
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... 1) Analyzing the ethical frameworks needed in decision making, which ones best align to the eight ethical principles of the Global Business Standards of Codex. Without doubt, there always exists a dilemma when company decisions are being made. It is for this reason that ethical frameworks are utilized to ensure that appropriate decisions are made in the organization. Ethics.ubc argues that ethical frameworks act like “snake detectors.” They are there to ensure that “snakes” in the organization are easily recognized before they bite. In layman’s language, they offer guidance when making decisions. Some of the ethical frameworks put forward include: * The utilitarian approach * Rights approach * Fairness approach * Common good approach * Virtue approach Utilitarian approach This approach basically focuses on the consequences of a particular action (capsim.com). For example, it considers whether an action will eventually lead to greater good than other related actions. Therefore, the most ethical decision to be made will be that which will offer maximum benefits. Rights approach In this approach, the most ethical decision to be made will have utmost respect and protection for human rights (capism.com). In this case, people have the right to make their own decisions and everyone ought to be respected in the decisions they make. Fairness approach Just as the name suggests, fairness is an emphasis considered in this case. This implies...
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...Ethics in International Marketing Table of Content I. Introduction…………………………………………………………………………...3 | II. Meaning of Ethics in International Marketing………………………………………...3 | III. How is Ethics and Consumer Marketing related?.........................................................4 | IV. Expectations in terms of Ethical responsibilities from the Marketing Institutions…...5 | V. Types of Ethical Approaches……………………………………………………….....6 | VI. Ethical Issues in International Marketing……………………………………………..7 | VII. Conclusion………………………………………………………………………….....9 | VIII. Bibliography…………………………………………………………………………..11 | I. Introduction Over the years, importance of ethics in the business world has increased and the world has seen a remarkable increase in the ethical norms and concerns. With the modern day consumers having the luxury to have more than one company to offer similar products, companies are trying to be extremely careful in terms of how their company is portrayed on the ethical standards. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Lawsuits are being filled on companies with respect to unethical behavior. As companies enter global markets, the cultural diversity becomes a very important aspect because each company has to make sure the expansion should not undermine the cultural and ethical values of that country or region of expansion. If this is taken care, than...
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...The Unethical activities in Marketing Mix “4Ps” Ethics and Political Environment of Business Senior project Spring 2015 Group Name: Nouhad El Zein Sadika Zaiter Zaynab Kdouh Table of Contents Abstract 3 Definition of the marketing: 4 Definition of the marketing mix 4 Product: 4 Price: 4 Promotion: 5 Place: 5 Social Responsibility in the 4Ps 5 Marketing mix and unethical practices 6 Introduction: 6 Definition of Marketing Ethics 7 Ethics and Product 7 Ethics and Pricing 7 Ethics and Distribution (place) 10 Ethics and Promotion 12 RECOMMENDATIONS: 16 Bibliography 17 Abstract In this project we intend to identity the marketing the marketing mix, the social responsibility in marketing, develop the concept of ethic in marketing components of marketing and how each of them can subject of unethical practices. Definition of the marketing: Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. For example, “Walmart” has become the world’s largest retailer—and the world’s largest Company—by delivering on its promise, “Save money, Live better.” Nintendo surged ahead in the video-games market behind the pledge that “Wii would like to play,” backed by its wildly popular” Wii” console and a growing list of popular games and accessories for all ages. And McDonald’s fulfills...
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...obligations to these stakeholders are sometimes considered to be motivated by organizational self-interest, the ethical perspective asserts the rightness or wrongness of specific firm actions independently of any social or stakeholder obligations.^ Customers are key stakeholders that help establish the firm's reputation and identification. For example, today Procter and Gamble is considered a textbook marketdriven global powerhouse with billion-dollar brands such as Bounty, Olay, Tide, Crest, and Folgers.^ Understanding customer needs and wants and providing customers with high-quality products are the key to the company's success. A market orientation focuses on an understanding of customers' expressed and latent needs and development of superior solutions to the needs.* Such an approach selects to elevate the interests of one stakeholder—the customer—over those of others. another in advertising campaigns, each declared that they provided the 'freshest' ingredients. The matter was taken to court and resolved through civil litigation. The importance of creating customer relationships and creating value for the customer as a part of market orientation should lead to increased performance. This article provides insights on foundations for ethical customer relationships, contingent knowledge about customers as stakeholders, and insights on establishing a balanced stakeholder orientation from a managerial perspective. Foundations for Ethical Customer Stakeholder Relationships The relationship...
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...following link: http://www.apexseekers.com/product/mkt-506-week-10-assignment-5-strayer-latest/ Contact us at: HELP@APEXSEEKERS.COM MKT 506 WEEK 10 ASSIGNMENT 5 STRAYER LATEST Assignment 5: A Household Name Due Week 10 and worth 150 points One of the ultimate goals of marketing is to generate sales and translate the message or product into something the targeted market embraces. Write an eight to ten (8-10) page paper in which you: 1. Argue the significance or need of a salesperson to push products. Address whether or not the type of product makes a difference with an example. 2. Consider the expectation of a sales professional and discuss if this is a position you would be interested in. Provide support for the claims you make regarding the career. 3. Develop a policy that you would use to ensure you remain ethical in your advertising activities. 4. Compare and contrast public relations, publicity, and corporate advertising, and discuss the value each presents along with an example for each one that you think has been executed well. 5. Think about the role of publicity and speculate whether or not you think publicity will be impactful in the future. Be sure to discuss what factors you considered when developing your response. 6. Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman...
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...Ethical Issues Riordan Manufacturing expansion to China. Eva MKT-450 February 6, 2013 Instructor: Charles Riordan Manufacturing Expansion to China Riordan Manufacturing Company focuses in development and licensing of its polymer patents and plastics headquartered in San Jose, CA. One of its top selling products is a plastic beverage container, which is manufactured in one of the company’s plant in Albany, Georgia. Because of the success in the United States, Riordan Manufacturing has decided to expand to Hefei China, which is considered the fastest growing city of China with a promise of financial stability to new companies according to China-Briefing, 2010. China is a good market because of the rapid economy growth and stability seen in the last years where China’s imports consisted of 30 % of them to United States, Hong Kong, Japan and other Asian countries (Amadeo, 2013). Riordan counts with a list of clientele in the United States consisting of department of defense, auto and aircraft parts manufacturers, appliance manufacturers and beverage bottles. Outstanding service and quality defines Riordan, therefore, great concern for up coming ethical issues with the expansion to China has come up. What is described as the performance of business activities relating to product planning, pricing, promoting and place being marketing. In contrast to marketing difference in definition comes in the term international marketing relating to the goal of direction of the flow of...
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...Contents Introduction 2 Ethical Behaviour and Theories 2 Ethical Codes 3 Ethical Dilemmas of Nestle 3 Infant Formula: 3 Overcharged Prices 4 Unfair Labour Practices 4 Steps Taken by Nestle 5 Conclusion 5 References 7 Introduction Marketing ethics can be considered as a subset of business ethics which deals with the study of how ethical and moral standards can be applied to various marketing decisions. Various topics can come under the umbrella of marketing ethics and these are product safety, pricing fairness, advertising honesty, product liability, etc. Corporations have increasingly become very competitive and in the last few years, news of breach of ethical codes of conduct have been highlighted in the media (Boone & Kurtz, 2011). This essay will elaborate upon the marketing dilemmas through the lens of ethics using case example of Nestle. Ethical Behaviour and Theories One of the ways through which moral philosophy and ethics can be viewed is through utilitarianism as proposed by John Stuart Mill who argued that the world exists in an imperfect state and individuals should strive to maximize happiness and stated that any increase in the degree of happiness justified any kind of sacrifice (Fritzsche & Oz, 2007). On the other hand, Kant states that the connection between happiness and virtue arose because of the belief that the rational pursuit of virtue and happiness are same in that they are identical wherein virtue can produce happiness...
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...consumer trust by conducting ethical transactions must be of paramount importance. THE SCOPE OF MARKETING ETHICS Business ethics refers to the moral or ethical dilemmas that might arise in a business setting. Marketing ethics, in contrast, examines those ethical problems that are specific to the domain of marketing. Firm’s attempts to apply sound ethical principles must be a continuous and dynamic process. Anyone involved in marketing must recognize the ethical implications of their actions. ETCHICAL ISSUES ASSOCIATED WITH MARKETING DECISIONS People in marketing interact directly with the public. Creating an ethical climate that establishes the health and well-being of consumers as the firm’s number one priority just makes good business sense. Creating an Ethical Climate in the Workplace The process of creating a strong ethical climate within a marketing firm includes having a set of values that guides decision making and behaviour. Once the values are understood, the firm must develop explicit rules and implicit understandings that govern all the firm’s transactions. Top management must commit to establishing an ethical climate, and employees throughout the firm must be dedicated to that climate, because the roots of ethical conflict often are the competing values of individuals. Each subarea within marketing, such as marketing research, advertising, pricing, and so forth, has its own code of ethics that deals with the specific issues that arise when conducting business...
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...Need for companies to act ethically with its stakeholders Marketing ethics refers to the practices followed to implement the marketing decision making, behaviour and practice in the organization which comply with the standards of fairness. Marketing aims at creating a competitive advantage which creates value for the organization as well as the customers. Organizations are free to set and implement their standards and practices which is required for their own benefit. However, considering the advancement in our economic system, it is crucial in today’s world for them to not just supply products but also adhere to the ethical standards. In a way ethics is another variable that influences marketing advantage of the organization. Ethical marketing leads to positive sentiment among the current and prospective customers which leads to a better image of the company in the market and also more acceptances of its products by the customers. Unethical marketing by an organization can harm or annoy the customers that could lead to resentment, lack of trust, lost business and sometimes even legal actions. There are also businesses that are set up because their founders believe strongly about an issue and prefer dealing with it through a business. A company needs to be sensitive to the needs and expectations of all its stakeholders. Here stakeholder refers to everyone who is influenced or can be influenced by its products and services. The need for companies to behave responsibly has been...
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...Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Leonard Allan Gulley II Strayer University Professor Muhammad 12-16-2013 Treat others the way you would like to be treated is the main principle of ethics. Ethics is also the moral value of what is right and what is wrong which we are taught when we are at the preadolescence age and continue to develop that trait as we mature through life (Resnik, 2011). It is also up to the individual or group of individuals on how they carry out their judgments on what is ethical or unethical behavior. This is also a problem because what one person may believe is ethical another person may disagree because every individual sees and handles each situation differently based on their knowledge and their core set of values. Even though there are laws set in place to dictate what is legal and what is illegal, laws and ethical values are not the same but ethics does play a significant role to determine the factors of a law (Resnik, 2011). Ethics is also important in the business world to ensure companies are morally doing the right thing. This is significant especially for consumers so that companies do not take advantage of them and if this is the case a company may face serious consequences for doing so (Sandilands,n.d.). In marketing and advertising it is a common occurrence for ethical values to be brought up as a lot of companies straddle the fence on this sensitive subject. It is up to both...
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...Q 1: Discuss and analyze the ethical issues reflected in the case. The case is about British American Tobacco (BAT), London-based tobacco firm, which is involved in doing unethical activities and hence breaking their marketing code in Africa. BBC had investigated and found BAT is trying to attract more young African buyers of its product by adjusting marketing strategy to meet young people's needs. They are actually promoting and selling cigarettes in form of “single sticks”, which is attractive to young people of poor African countries like Nigeria, Malawi and Mauritius, who cannot afford to buy a whole packet of cigarettes. Now, there is nothing wrong with marketing one's product to target an audience of possible consumers. However, in this case, BAT allegedly targeted African children as young as 11 by aggressively marketing single sticks' to them. The company also hosted events that targeted young people despite their publicly stated commitments. Now, we know that most ethical issues concerning business consumer relations refer to the ‘marketing mix’, ethical issues in product policy, marketing communications, pricing and marketing strategy. Ethical Issues in marketing management – Product Policy At the most basic level, manufacturers should exercise due care in establishing that all reasonable steps are taken to ensure that their products are free from defects and safe to use as well as effective and fit for the purpose. Cigarette may be effective as they claim...
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