Tuesday, January 19, 2010

Ethical Marketing

Ethical marketing is about whether a firms marketing decision is morally right or wrong. The morality of the marketing decision can encompass any part of marketing from advertising to the pricing of their product or service, to the sourcing of their raw materials.

In today’s corporate world ethical marketing is playing a larger role in marketing strategy. An increasing number of consumers are buying products/services because they feel that the products, services or organisations responsible for those are ethical. In response to this consumer demand organisations have increased their focus on ethical marketing. The UK Co-operative bank is good example of an organisation 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.
An individual’s view of ethics and morality is influenced by a variety of things including their culture, background, experience, upbringing/family, peers, community, religion and country.




Syed Ahmad Hashmi said...

Ethics are always important because pressure groups must be kept under control so that sales are not effected.