ethical issues in marketing mix

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The report also examines the various factors which have a impact on the ethical nature of the marketing decisions. • Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return • Marketing Mix – Product, Price, Place & Promotion • A company must have ethical marketing policies to guide their pricing, advertising, research, and competitive strategies 4 What managers seldom realize, however, is that the marketing decisions they make primarily to increase sales and market share have a great impact on society at large and thus have significant ethical implications. According to Varadarajan and Clark (1994), "Marketing strategy is concerned with the creation of a marketing mix that enables the business to achieve its objectives in a target market." honesty, autonomy, privacy, transparency).An example of such an approach is the American Marketing Association Code of Ethics. The challenge is to choose one of the right size that expresses appreciation but doesn’t compromise the integrity of the client or the marketing organization. Ethical marketing has many advantages, but few companies would undertake an ethical marketing strategy if it reduces profits. children, the elderly) Given that many of us use the marketing mix as a framework for developing our marketing strategies, perhaps just adding to each of the Ps, a section on ethical considerations, would be a simple way to help ensure that we, and the organisations we associate with, do ‘the right thing’. Has the scope of marketing activities and tasks expanded or has it contracted? In this context the importance of environmental factors on the manufacturing of the products have been dealt with. Careful research is the best way to predict the effects of a change in strategy. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when ruefully blended, desirable results for the organization are obtained. Product issue is that it may be harmful and Fail to … (Minsker, 2014) The issue of marketing to children brings that into attention mainly touching the food market in a timely lens. Ethical Criticisms of Marketing• High prices• Deceptive practices• High-pressure selling• Harmful, or unsafe products• Planned obsolescence• Poor service to disadvantagedconsumers 3. As such, an awareness of the ethical issues in e-marketing under the control of marketing executives is central to the realization of an ethical climate in e-businesses. While marketing has existed since the start of commercial trading, it has become more and more of a grey area for businesses in recent times. Ethics in Marketing research refers to moral principles or values that a researcher or research organization should consider. Ethical standards are used for establishing the behavioral parameters that business-owners and senior-level managements expect from their employees, suppliers, and other stakeholders.. Ethical marketing refers to the process by which companies market their goods and services by focusing not only on how their products benefit customers, but also how they benefit socially responsible or environmental causes. Here are some examples of potential ethical issues in marketing: Market research: Invasion of privacy (e.g. Maintaining ethical standards is an essential and crucial step in our everyday life. [1] Parties involved in marketing transactions have a set of expectations about how the business relationships will take shape and how various transactions need to be conducted. Marketing to children is considered an ethical issue because children can be highly impressionable. The first few editorials on ethical issues in marketing published in the 1960s. What are some of the ethical issues in marketing? Seven out of ten customers would boycott a brand that mishandled their data . ethical issues in marketing: Ethical marketing in general require the business firms to engage themselves in activities such as providing true and fair information regarding the product to customers, maintaining customer privacy and most importantly adhering to … Tan, E. (2018). Describe the implications of ethical issues on the marketing mix for organization: Ethical behavior is important when facing the challenge of balancing the best interests of consumers. In the context of marketing mix, the importance that product, place, price and promotion have been discussed. Some of the ethical issues experienced in traditional marketing practices are encountered in those of e-marketing as well. According to the American Psychological Association, children view more than 40,000 commercials each year. Below is a table that shows how marketing professionals responded to a survey on the most difficult ethical issues they face. The Influence of Marketing Mix 4A and Ethical Consciousness Towards Ethical Consumption. The report starts of by introduction to the ethics in an organisation and the importance of business ethics in the society. If ethical marketing proves to be cost prohibitive, many companies will abandon the effort. Scenario: An actor hired by a particular company poses as an ordinary Joe and strikes up a conversation with a potential consumer to praise the company’s product or service. Ethical Issues in Marketing Research - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. This can be achieved by linking the cigarette brand to independence, rebellion, good times, or coming into one’s own power. Various decisions are involved in the Product element such as: Quality of product Safety of product Packaging and Branding Issues Product Warranties There issues are of vital importance and does have certain ethical obligations associated to it: Quality of product: The demand for high – quality products is of key issue. Ethical Issues and Their Impact on Marketing Advertisements are a great way to spread knowledge about a product or service, but sometimes the messages in advertisements are questionable. Marketing EthicsSubmitted By:-Ravi Singh 2. Ethical issues in marketing arise from the conflicts and lack of agreement on particular issues. The aim of this study is to investigate the factors related with ethical issues in marketing practices and to reveal possible influences of these factors on consumers’ ethical decision making. This report aims to describe, how ethical issues can affect each component of the marketing mix. Let’s identify and understand various Ethical Issues in Marketing Research with the help of a suitable example. The ethical considerations make sure that no-one acts in such a way that is harmful to society or an individual.It refrains people and organizations from indulging in vicious conduct.. Marketing, like any other area of business, has a certain level of ethics that marketers need to follow. The American Marketing Association promotes the highest ethical standards for its members. The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Ethical Issues Affecting Each Component of the Marketing Mix Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. Questions that have been raised include: the blurred line between data collection and the invasion of privacy as well as the grey area between attracting consumers and deceptive advertisement. Advertising of apparel, food, toys, films and music targeta youth with cartoon characters, trendy catch phrases, and the use of child actors. What are marketing vs. non-marketing issues and tasks? Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. Marketing ethics denotes morals and standards relating to marketing practices, including those related to 'four P's of marketing' and 'marketing research'. Marketing tactics such as pricing, promotion, placement, and product decisions all help business owners create a need for their products or services. This is because consumers are informed buyers who base moral principals in transactions revolving around an organization’s marketing mix of pricing, product, promotion and place. Ethical issues play an important role in the promotional activities. Marketing ethical issues 1. Ethical considerations play an essential role, especially in research. the marketing mix are developed in the second section. Here are common ethical dilemmas you’re likely to face as a marketing professional and steps to keep your reputation intact: Ethical Dilemma: How Far Can You Go in Stealth Marketing? Aaker (2009 cited by Kyung Hoon Kim et al., 2012) notes that "marketing strategy can involve a variety of functional area strategies including positioning, pricing, distribution, and global strategies." Though the pursuit of social responsibility and ethical marketing does not automatically translate into increased profit, it is still the responsibility of the firm to ensure it is responsible for its actions and their impact on society. First and foremost, we should not be using marketing to make a product that is clearly harmful more appealing to people—for instance, selling cigarettes by appealing to people at a deep emotional level. In this context the importance of environmental factors on the manufacturing of the products have been dealt with. Ethical consideration is a collection of principles and values that should be followed while doing human affairs. Major Ethical Issues in Marketing to Children . Vintage advertisements from the 1950s and 1960s, for example, were created in an era with far less oversight. Fundamental issues in the ethics of marketing Frameworks of analysis for marketing: possible frameworks. Different companies make different achievements being corporate citizens but the issue of their real impact on society is an important concern. Ethical issues play an important role in the promotional activities. Product is the first element in the marketing mix. The core values are honesty, responsibility, fairness, respect, transparency, and citizenship. Specific issues in marketing ethics. In the context of marketing mix, the importance that product, place, price and promotion have been discussed. Be it an educational institution or even workplace, maintaining ethical standards is of paramount importance. obtaining research data without permission) Stereotyping – drawing unfair or inappropriate conclusions; Target customers and market: Targeting the vulnerable (e.g. THEORETICAL FRAMEWORK FOR THE STUDY Conceptual Framework of Marketing Ethics Definition of Marketing Ethics Marketing ethics concerns the application of ethical considerations to marketing decision making (Smith, 1993: 10). These issues can be examined from the perspective of such components of the traditional marketing mix as product, price, place and promotion, which are under the control of marketing executives. To put this another way, ethical marketing isn’t a strategy; it’s a philosophy. 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