Ethics in Modern Marketing - 1383 Words

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†¦show more content†¦Another responsibility of marketing in direction of ethics is influencing the value system and the promotion of non-values. Products advertised are not always perfect, and the ads are not designed with original concept and do not reveal the reality of the produ ct. Ethical issues in marketing are an important consideration for a modern business. First consider marketing, our understanding of what is required of a marketing professional has changed over the last decade. It used to be adequate to discuss product, promotion and price. A modern marketing professional is also expected to develop his/her relationship with the customer or client. TOP 5 ETHICS ISSUES IN MARKETING Every business relies on marketing to attract customers and to sell products or services. The problem is that marketing can sometimes promote products or services in unethical ways. What can businesses do to follow ethical standards in their marketing strategies? What are the top 5 ethical issues in marketing? 1. HONESTY The news of corporate scandals seems to be a daily occurrence. Consumers have lost trust in the integrity in many corporations because of the unethical and sometimes illegal behavior that seems to be embraced in the organizational culture of the corporation. Companies need to realize that company reputation is part of the honesty factor. People seekShow MoreRelatedâ€Å"Marketing, Consumerism, Materialism and Ethics: the Modern Marketing Conundrum†4276 Words   |  18 Pagesto service. Later the concept of ethics came into existence. Companies had to market their products in an ethical and responsible manner. This created more pressure on the companies. To tackle this problem the companies had to resort to aggressive marketing strategies. Companies knew that materialism is considered very important in a market like India because all people want physical possession of the products that they buy. So they resorted to unethical marketing. Yet they are successful in theirRead MoreAdvertising : The Positive Impact Of Ethical Advertising1000 Words   |  4 Pages In the modern day society, advertisements have huge influence everywhere, especially those through the media. Advertising through the media is pervasive and powerful in shapin g up attitudes and behaviors in the contemporary world. Advertisement does have profound impact on peoples understanding of life, the world and themselves, particularly regarding values and choices in life. Today, there is increasing literature focusing on ethical and moral issues that advertisement can and does actually raiseRead MoreProduct Quality1288 Words   |  6 PagesAn essay on: â€Å"Marketing and ethics are like oil and water – they just don’t mix. There is no place for ethics in the cut-throat world of marketing†. Discuss The success of a product is always determined by how well it’s marketed. In that case marketing has an important role in every product that we produce. 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These scandals involved the individuals’ involvement in a series of bribery cases as well as other backdoor deals that were aimed at securing tournaments and FIFA events’ marketing rights. The concerns of the Association of Institutional Investors (AII) about the risks associated with investments in theRead MoreCoca Cola Environmental Factors Paper1224 Words   |  5 Pagesenvironmental factors that could possibly affect their marketing both globally and domestically. The Coca-Cola Company and Subsidiaries have many environmental factors that affect their global and domestic marketing decisions. These factors include; global economic interdependence alongside trade practices and agreements, demographics and their importance on top of physical infrastructure, cultural differences, social responsibilities, ethics versus legal obligations, political systems and international