Question

Discuss the phrase “let the buyer beware” and its relationship to an ethical marketing perspective.

in 300 words

Answer 1

Caveat emptor is the latin phrase which is used for "let the buyer aware". It has become more like a proverb in English. Generally speaking, this caveat emptor has become a contract law principle that controls the sale of goods and services by the seller to the buyer and covers the fact that the buyer who is buying any particular good or service should be well aware of the fact that what is he buying and should check all the possibkle considerations before making the purchase. He should be fully aware of that particular good and service and take care of all the faults or problems it could have because if after buying he'll find one, you cannot easily blame the seller for it.

A common example that can be considered is a car transaction where is taking place between two private parties for buying and selling the car. In dealership, there is an implied warranty unlike the normal buying and selling between two parties. The buyer in this case take the full responsibility check and inspecting the: like taking to the mechanic to see if its good or not. If some problem arises after the sale transaction, it is not seller's responsibility. Garagge sales are also based on caveat emptor in which all the sales are considered final and nothing is guaranteed what is right or wrong. This is what the phrase is all about. The buyer is responsible and should reasonable while buying anything.

This phrase has a direct implication with the ethical marketing strategy. It's the buyer's responsibility to be responsible while the time buy buying anything but it's the seller's responsibility to make sure only the right quality good and services are being provided to the employees. If on the first hand you are making the transaction go fraud by providing unethical deals and products at first place, for example showing the buyer the sample product as something different and giving them the real delivery of product as something different, this is not an ethical example of the marketing you have done. It is termed as the unethical activity and for that your company could also be sued against it. You should be ethical in taking the consideration about what and how to sell things, consumer's satisfaction should be aimed at large and thus, a healthy relationship should be established between thr buying and selling process.