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When marketing practices depart from standards that society considers acceptable, the market process becomes less efficient—sometimes it is even interrupted.Not employing ethical marketing practices may lead to dissatisfied customers, bad publicity, a lack of trust, lost business, or, sometimes, legal action.
It promotes qualitative benefits to its customers, which other similar companies, products or services fail to recognize.
The concern with ethical issues, such as child labor, working conditions, relationships with third world countries and environmental problems, has changed the attitude of the Western World towards a more socially responsible way of thinking.
General Editors: David Bourget (Western Ontario) David Chalmers (ANU, NYU) Area Editors: David Bourget Gwen Bradford Berit Brogaard Margaret Cameron David Chalmers James Chase Rafael De Clercq Ezio Di Nucci Barry Hallen Hans Halvorson Jonathan Ichikawa Michelle KoschØystein Linnebo Jee Loo Liu Paul Livingston Brandon Look Manolo Martínez Matthew Mc Grath Michiru Nagatsu Susana Nuccetelli Giuseppe Primiero Jack Alan Reynolds Darrell P.
Rowbottom Aleksandra Samonek Constantine Sandis Howard Sankey Jonathan Schaffer Thomas Senor Robin Smith Daniel Star Jussi Suikkanen Lynne Tirrell Aness Webster Other editors Contact us Learn more about Phil Papers General Editors: David Bourget (Western Ontario) David Chalmers (ANU, NYU) Area Editors: David Bourget Gwen Bradford Berit Brogaard Margaret Cameron David Chalmers James Chase Rafael De Clercq Ezio Di Nucci Barry Hallen Hans Halvorson Jonathan Ichikawa Michelle KoschØystein Linnebo Jee Loo Liu Paul Livingston Brandon Look Manolo Martínez Matthew Mc Grath Michiru Nagatsu Susana Nuccetelli Giuseppe Primiero Jack Alan Reynolds Darrell P.
The idea of fair trade is that consumers pay a guaranteed commodity price to a small group of producers.
The producers agree to pay fair labor prices and conserve the environment.However, this new way of thinking does create new challenges for the marketer of the 21st century, in terms of invention and development of products to add long-term benefits without reducing the product’s desirable qualities.Ethical Marketing Ethical marketing is about whether a firms marketing decision is morally right or wrong.A typology of ways that managers might confront ethical issues is proposed.The significant organizational, personal and societal costs emanating from unethical behavior are also discussed.The purpose of marketing is to create a competitive advantage.An organization achieves an advantage when it does a better job than its competitors at satisfying the product and service requirements of its target markets.This report begins by examining several potentially ethical recent marketing practices.Since most marketing managers face ethical dilemmas during their careers, it is essential to study the moral consequences of these decisions.The UK Co-operative bank is good example of an organization that tries to follow a ethical principal, based on what the customers feel strong about.When companies are reviewing marketing strategies they need to consider whether the marketing decisions that they are making are ethical and reflect consumer and market expectations.