Marketing -- why do we need it to be ethicalwhy world needs ethical marketing practices?
We need marketing to be ethical because ethics is the basis of a trustworthy business/economic system. A business that honestly portrays itself, as well as their products and services, builds trust between themselves and their customers. An enterprise that misleads consumers in any way, and is caught doing so, weakens the integrity of the business/economic system. People begin to question the motives and practices of companies. This affects their purchasing decisions and leads to actions against business enterprises that affects their sales and profits. Lack of ethics leads to increased litigation and the use of financial and other resources to engage in legal battles. If ethical practices were always followed, these resources could be put to more productive use to bolster economies.
Another argument for maintaining ethical marketing practices can be made regarding who gets hurt by unethical marketing. Though any and all of us are subject to be "taken in" by false advertising, those of us who are less educated will be most impacted by poor financial decisions, because this group tends to have fewer resources. The poor will be hurt the most. And this group is least capable of absorbing loss or setbacks.
Hah! Yes, marketing needs to be ethical. If you engage in unethical marketing, it could backfire. People will realize that you have misled them, or whatever you did unethically, and they will not use your product. As they say, a happy person may tell no one or one or two other people about your product, but an unhappy one will tell ten.
I think "need" is too strong a word. But we can say we'd be better off with such practices. This is because people would not overconsume and would not waste their money so much with ethical marketing practices. In addition, they would not get cheated by practices like "bait and switch."
We dont "need" marketing to be ethical, but both the cunsumers and business' will benifit from eithical marking procedures. An ethical organization indulges in aspects such as fair trade and being possibly "environmentally friendly". These activities will help boost the image of the company and may attract a new level of cliental as well as attract better candidates for recruitment and selection.
The comsumers will benefit by being able to shop allmost carefree because of theor trust upon their chosen business. This will boost customer satisfaction and possibly boost sales.