T2 DQ2
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Grand Canyon University *
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Course
MKT 607
Subject
Philosophy
Date
Dec 6, 2023
Type
docx
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1
Uploaded by marykogut2
According to Fair Trading Commission (n.d.) a vulnerable consume is someone that has a low
income, from a non-English speaking background, has any type of disability, has an illness, has
poor reading, writing or math skills, homeless, very young or very old. When thinking about
ethics in marketing, I think that there should be greater regulation when selling to vulnerable
customers. Palmer and Hedberg (2013), described these vulnerable consumers as not being
able to identify and protect their own needs and interests. The moral thing to do in this
situation would be to practice conscious capitalism, protect your customers, and market to
them in a way that is not taking advantage of their vulnerabilities.
There are a lot of people in
the world that would fall under not one but maybe several of the categories listed above. The
vulnerable consumer is a large demographic and therefor they should be marketed to in a
different way. I am sure that there are companies out there that know it is morally wrong to
target these vulnerable consumers but continue to do so anyways in order for them to make a
profit. According to Palmer and Hedberg (2013) “it is morally wrong to market goods to
specifically vulnerable populations in ways that would take advantage of their vulnerabilities”
(pg.403).
When thinking about Christian worldview, business should consider marketing
methods that are specific to the vulnerable population, and like I stated before that has to falls
in line with practicing conscious capitalism, mainly creating a conscious culture and higher
purpose. Conscious capitalism promotes Christian worldviews with being more focused on
doing the right thing to better their business and the community.
Anderson, R. M. (2015, Jun 1). The 4 principles of ‘conscious capitalism.’
Entrepreneur.com
.
Retrieved from
https://www.entrepreneur.com/article/246478
Fair Trading Commission (n.d.).
Looking out for the vulnerable consumer
. Retrieved from
https://www.ftc.gov.bb/index.php?option=com_content&task=view&id=149
Palmer, D., & Hedberg, T. (2013). The Ethics of Marketing to Vulnerable Populations.
Journal of
Business Ethics, 116
(2), 403–413. Retrieved from
https://doi-
org.lopes.idm.oclc.org/10.1007/s10551-012-1476-2
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