Ethical marketing refers to the application of marketing ethics into the marketing process. Briefly, marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing results in a more socially responsible and culturally sensitive business community. The future success and perhaps even the long term survival of human society may very well depend on whether or not we, as members of that community, embrace these concepts or reject them. Ethical marketing should be part of business ethics in the sense that marketing forms a significant part of any business model. Study of Ethical marketing should be included in applied ethics and involves examination of whether or not an honest and factual representation of a product or service has been delivered in a framework of cultural and social values.
A business which creates its own code of marketing ethics and implements this code into every aspect of its business operations gains an ability to provide qualitative benefits to its customers. This competitive advantage is recognized by customers but is not immediately evident using only traditional business metrics. As a result, other similar companies, product manufacturers, or service providers may fail to recognize this advantage. 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. This has influenced companies and their response is to market their products in a more socially responsible way. The increasing trend of fair trade is an example of the impact of ethical marketing. 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. This agreement sets the stage for a commerce that is ethically sound.
The philosophy of marketing is not lost with this newfound ethical slant, but rather hopes to win customer loyalty by reinforcing the positive values of the brand, creating a strong citizen brand. 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 should not be confused with government regulations brought into force to improve consumer welfare, such as reduce carbon dioxide emissions to improve the quality of the air. Enlightened ethical marketing is at work when the company and marketer recognize further improvements for humankind unrelated to those enforced by the government. By way of example, the Coop Group refuses to invest money in tobacco, fur and any countries with oppressive regimes.
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[edit] Further reading
- Murphy, Patrick E; Gene R. Laczniak, Norman E. Bowie, and Thomas A. Klein (2005) [2004]. Ethical marketing. Upper Saddle River, N.J: Pearson Prentice Hall. ISBN 978-0131848146. OCLC 54805964.
- Laczniak, Eugene R; Robert F Lusch; William A Strang (1978). Ethical marketing : product vs. process. Madison: Graduate School of Business, University of Wisconsin-Madison. OCLC 33226121.
- Ginsburg, Roy S (2006). Ethical marketing skills for lawyers. Denver: Continuing Legal Education in Colorado. OCLC 133147723.
- Fan, Y. (2005) “Ethical branding and corporate reputation”, Corporate Communication: 10:4, 341-350, accessible from http://hdl.handle.net/2438/1283
- Knell, Charles (2009) “Ethical Marketing Defined”, http://ethical-marketing.rrco.biz/ethical-marketing-defined/
Thanks so much for your support. Much of the time, so called news stories published by “reputable” sources do not withstand even 60 seconds of fact checking, rendering them as false. Journalism seems to be searching for a new low.
Charles