Posted in Marketing and Strategy Terms, Total Reads: 531
Definition: Marketing Ethics
Marketing ethics are the moral principles and values that need to be followed during any kind of marketing communication. They are the general set of guidelines which can help companies to decide on their new marketing strategies. But then it depends on one’s own judgement of ‘right’ and ‘wrong’. Any unethical behaviour is not necessarily illegal. If a company is making any kind of claims about their products, and are unable to live up to those claims, it may be called as an unethical behaviour.
Marketing ethics basically promotes fairness and honesty in all their advertisements. Any kind of false claims to the consumers, invading consumer’s privacy, stereotyping and targeting the vulnerable audience (like children and elderly) are considered to be unethical behaviour by the companies. Even trying to harm the competitor’s image is considered immoral.
Ethics are still subjective and should be openly discussed by the companies while making any marketing decisions. Companies following the marketing ethics are able to gain the trust of the consumers and create a positive image for themselves.