Question

Why is ethics an important consideration in marketing decisions?

Answer 1

Ethics and ethical considerations are predominately principles of fairness, moral rights, and conduct. The aim of a business is always to earn profit and to adhere to the needs of the customers . As business becomes popular and successful and is able to meet all the needs and products it should focus on ethical consideration which should become a major marketing strategy. This is important as, if customers know about the ethical standards of a company it will not only improve sales but also provide a positive attitude towards its products. For instance, TATA companies are known for their ethics hence has been given immense acceptance . Whereas the case against Nestle had led to the downfall of not only the product maggie but also the other products of Nestle. Government and other social groups also enforce ethical considerations into a companies strategy which induces the company to follow certain social responsibilities that are, protect consumer rights. Today all have access to information hence companies cannot just throw ethics out of the window but have to carefully plan and implement their marketing strategy . For instance Pepsico has a eloboarte startgety planned and implemented for environment , hekath and safety.They have a huge consumer base and cannot afford an inhumane practices .They work towards building a workculture and atmosphere conducive for both employers and employees.