EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461427
Author: Armstrong
Publisher: YUZU
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Chapter 20, Problem 20.8CTE
Summary Introduction
To discuss: The philosophy of ethics that assists Person X’s decision in every situation.
The company’s activities, which is connected with purchasing and selling a service or product is referred as marketing. It consists of selling, delivering, and advertising of products to the people.
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Discuss the philosophies that might guide marketers facing ethical issues.(AACSB: Written and Oral Communication)
Ethical marketing is more of a philosophy that informs all marketing efforts than a marketing strategy. Consider a social media advertisement that claims a product will do X, Y, and Z, but when you order it, you discover it can only do X. These types of disreputable, dishonest, and corrupt marketing strategies acted unethically. Finally, while unethical marketing may succeed in the short term, it is not a good long-term strategy. Customers will begin to distrust your brand as a whole, making it difficult to find brand advocates willing to spread awareness about your product or service through word-of-mouth marketing. Investigate the critical role ethics plays in modern marketing and formulate the best practises to create ethical solutions to all of your marketing challenges?
Should marketers embrace the societal marketing concept with respect to foods or products that could be harmful to consumers? Discuss an example of a company embracing the societal marketing concept with respect to the obesity epidemic. (AACSB: Written and Oral Communication; Ethical understanding and reasoning)
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