This website uses cookies to ensure you have the best experience. Learn more

Marketing Law And Ethics: The Advantages And Disadvantages Of Ethical Behaviour In Marketing.

1104 words - 4 pages

Marketing Law and EthicsAssignment One - EthicsBeing ethical as a marketer has its advantages as well as its disadvantages. The 'negative' advantages are obvious, all of which point to personal and business gain. However, to say that one must act unlawfully to be unethical would be false. The provided statement is completely factual and is particularly relevant to marketing and, more accurately, business, in the fact that "ethics are not, by definition, counterproductive to profit, but may be beneficial to profit."Hypothetically, a marketer would need to accept the above statement as 'bible' in reference to the marketing mix, or rather simply, 'the four P's (price, product, promotion and placement). The simplistic fundamentals of marketing and business, the marketing mix is essential to the success of a business and their respective products, so it is appropriate that it also be applied to another quintessential factor of business in ethics.The first and arguably most important aspect of the marketing mix, price can pose quite a few ethical dilemmas and has done so in the past. One example of this is price collusion or price-fixing. This is where a product or service is set at an unreasonable price with knowledge that the consumer can't afford not to purchase the product or service. One such instance of this occurred in America when leading toy chain Toys 'R' Us "violated federal trade laws by colluding with manufacturers to keep prices for Barbie, Mr. Potato Head and other popular toys artificially high." While it was unlawful, it was also an unethical act as well as a form of extortion.The second factor of the marketing mix, product, is also subjected to ethical dilemmas. Planned product obsolescence is a prime example of an unethical act in relation to product. This is where there is a planned life-span of a good, producing a product so that it will wear out inside a period of time, most often beyond it's warrantee. To say such an act is unethical is to question how much disclosure of information is truly enough. In my personal opinion, it is a wrongful act and one that I consider unethical. On the other end of the spectrum, acting ethically and creating a reliable product would be just as beneficial to a company and it's reputation, if not more so.Promotion can also be unethical. Attempts to persuade someone that a product is 'needed' by them when it quite obviously is not is wrong, especially when there are so many influential consumers in the market. Intrusive marketing is unethical as well. Alternately, promoting a product responsibly and ethically can be quite beneficial to a business, particularly when the "highest standard of moral conduct" has been reached, which makes a business appear conscious of unethical behaviour. One example of this is the Body Shop which is the benchmark in ethical business practices in Australia.Product placement is often quite deceptive. Some may consider the issue of placing products on certain 'eye-levels'...

Find Another Essay On Marketing Law and Ethics: The Advantages and Disadvantages of Ethical Behaviour in Marketing.

Ethical Marketing and Advertising Essay

1573 words - 7 pages organization, sales are promoted. However, for the benefits of advertising to be fully achieved, matters of its ethics cannot be underplayed. Ethical practice, which is mostly concerned with the morals of doing business in the modern times, is where all the business activities are heading to. This excludes not the adverting. This is because advertising is lies between philosophical and managerial ideologies and both of these are concerned with

Marketing and Consumer Behaviour Changes Essay

1491 words - 6 pages the creation of retail scarcity and novelty through location and product stock. This approach acknowledges that many consumers gain social status and pleasure from owning “limited edition” items. This helps to explain the continued popularity of pop-up shops that remain in a temporary location. (The Boston Consulting Company, 2012) It is obvious that consumers behaviour is based on marketing concept. The marketers have to make products what can

Marketing Law & Ethics

2344 words - 9 pages Marketing Law & Ethics- ETHICSQuestion 1Marketing is a key factor in business, which outlines the concepts of society's needs, wants and demands. It is through the exchanging of products and value with others that laws are needed to regulate the market place. However, certain situations are not provided for in law. As a standard of conduct in business, ethical behaviour is important when facing the challenge of balancing the best interests

Ethics and Social Responsibility in Marketing

928 words - 4 pages IntroductionIn today's marketplace, it is crucial to be responsible both ethically and socially. Some marketing tactics in the herbal supplement industry have been deplorable. This paper will explore some of the marketing tactics used by Quest for Life, Inc. for their herbal supplement Extenze. Since we can't trust some these marketing firms or departments within these business to maintain a moral or ethical standard, regulations and laws should

Marketing and Ethics (United Colors of Benetton)

1864 words - 7 pages      Often regarded as a leader in the multinational marketing industry, United Colors of Benetton continues to face the challenge of effectively marketing clothes across racial, cultural, and religious borders. Renowned for using social issued-themed pictures to promote its brand, Benetton has strayed from traditional marketing techniques to provide customers with an idea of the many issues that plaque societies from

Importance of Ethics in Marketing

1268 words - 5 pages Marketing Ethics Advertising has a great influence on the way people perceive themselves and the world around them, also essential values and ethical behaviors. Ethics and honest principles in advertising should be taught, and understood by its advertisers to affect people by delivering positive messages from their Ads. The ad should prove that this product will benefit them in the highest return. I will show the importance of marketing in four

TARGET MARKETING: THE TENDENCY TO INCREASE UNETHICAL BEHAVIOUR AND THE PROBABILITY OF BOYCOTTS: A CONCEPTUAL FRAMEWORK

3173 words - 13 pages product or service. Furthermore, when product harmfulness is coupled with consumer vulnerability, the impact on target marketing is enhanced in regard to ethical implications and possibility of boycotting.Unethical BehaviourThe level of unethical behaviour perceived by consumers differs according to how they view a certain action. In relation to the conceptual framework, the level of unethical behaviour will be measured against what would be

Ethical and legal analysis of the Ann Hopkins v. Price Waterhouse discrimination law suit. Focuses on case law and ethics

3145 words - 13 pages CASE?The ethical rules that I feel may be applicable in this case are as follows:I feel that throughout the case a sense of egoism was present. In some slight sense, nonconsequential ethics came into play in that "the process is the process and we must follow it" regardless of any categorical violations. Where egoism comes into play is that the firm only cared about how they would "feel" if Hopkins were made partner. It did not matter that she was

Ethical Considerations in Marketing, Product Safety, and Intellectual Property

2432 words - 10 pages have done in this scenario, and whether the FDA should be granted more power over compounding pharmacies.Decide whether PharmaCARE’s use of Colberian intellectual property would be ethical in accordance with:den Utilitarianism,Deontology,Virtue ethics,Ethics of care and my own moral / ethical compass.Then , I will Analyze the way PharmaCARE uses U.S. law to protect its own intellectual property while co-opting intellectual property in

Genetic Screening what are its uses, advantages, disadvantages and ethical issues

927 words - 4 pages information received is kept confidential. This is because genetic screening, although has its advantages has helped many families in a lot of ways mentioned above, therefore, it should be acceptable, however the choice of whether to do it or not rely on the individual and should not be pressured to do so. All in all, genetic screening is a great type of biotechnology that has prevented a lot of genetic disease.How it worksGenetic screening is

Sports Marketing: The Agent Athlete Relationship and Ethical Issues

1695 words - 7 pages Due to the nature and complexity of contracts, agents are expected to have a background in contract law and be knowledgeable in finance, business management, financial and risk analysis, and of course, sports. In order to be a successful sports agent one must not only be a great negotiator, but also be highly motivated, have exceptional communication skills, be prepared to work long hours and handle multiple tasks at the same time. An agent

Similar Essays

Ethics And Ethical Behaviour Essay

1309 words - 5 pages ABSTRACTThis paper examines the four philosophical viewpoints that underpin an understanding of what constitutes ethical behaviour. It then covers the methods that an organisation can use to promote and maintain high ethical standards within a business environment.Ethics can be seen as a set of principles that govern what is considered 'right' and 'wrong' in regards to ones conduct (Schermerhorn et al, 2004.) Therefore ethical behaviour is that

Consumer Behaviour In Marketing Ethics Essay

1224 words - 5 pages ; Discusses some of the ethical issues and the need for organisations to consider and those while designing their marketing plans. • Discusses how organisations respond to the ethical issues. • Discusses what effect consumer ethics has on marketing plan of the firm? Page 7 of 7 The learners evidence shows for : DISTINCTION To gain a Distinction grade learner must achieve the entire pass and merit criteria and in addition must satisfy the

Consumer Behaviour In Marketing Ethics Essay

1889 words - 8 pages Marketing can undoubtedly bring benefits to society, although some aspects of marketing may be questionable on ethical grounds. The aim of this assignment is to raise criticism of marketing and show that consumer behaviour is affected by ethical issues. Do consumers really care about marketing ethics?Ethics is a complex concept to define, and there is an attempt made by contemporary theorists to highlight ethical behaviour in a marketing context

Porter's Five Forces, Online Marketing Advantages, And Marketing Ethics

1447 words - 6 pages Essay QuestionsA.Choose a specific industry (e.g., grocery retailing, the airline industry, etc.), and apply Porter's Five Forces Model to discuss that industry's competitive forces and their relative influence.B.Discuss how online marketing could provide competitive advantages in the industry you analyzed in question A.C.Do you think firms that market products for children have any special ethical responsibilities when they advertise? Why or