Marketing Ethics

  • Created by: LML09
  • Created on: 31-05-15 15:03
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  • Marketing Ethics
    • "applying standards of fairness and morality to marketing decisions and strategies"
    • Many businesses will have a Corporate Social Responsibility (CSR) which sets out how an ethical and responsible image can be achieved. There are several aspects to this concern
      • Entrepreneurs and managers may be becoming more aware of the need to look after their stakeholders and the wider environment
      • They may just be motivated by the desire to act responsibly
      • It makes sound commercial sense for some businesses to have an ethical and responsible image because it increases sales from concerned consumers
      • As more businesses do this it makes the ones that dont stand out
      • The internet and social networking sites mean that consumers are better informed
      • Legislation and regulations exist to make businesses behave
    • Marketing is good because...
      • Informs consumers about products they may want
      • Informs consumers about products they may not have known about
      • Helps consumers make rational choices that will benefit them
      • Helps markets operate effectively and increases consumer sovereignty
    • Marketing is bad because...
      • £20 billion is spent in the UK advertising each year. This could be spent elsewhere
      • Encourages us to consume things that aren't good for us e.g. alcohol,fast food
      • It can be misleading and is sometimes designed to make rational choices harder
      • It is designed to manipulate consumer behaviour


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