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MKTG327 Ethics - Coggle Diagram

- - - - marketing may not be taken seriously
      - some people are free-riders who aren't ethical but get benefits anyway because of those around them
      - lack of stakeholder awareness
      - some things are difficult to blame individually, eg pollution
      - a frequent goal is profit gaining in this society
      - there is limiting enforcement of ethics
- - - - all relevant laws and regulations (e.g., advertising, competition, commercial, employment, environmental, equality, etc.)
      - business and marketing ethics, which should be codified, disseminated and enforced throughout the organisation
      - social responsibility (conscience) towards consumers and other stakeholders
  - - - Helps mitigate any mistakes the company may make
    - - Eg people avoid primark because of sweatshops and bad working conditions
  - - - can lead to differentiated brand positioning, increased goodwill and brand loyalty, and better company performance
      - backlash if incongruency between what the company stands for and the CM programme itself
      - links marketing to at least one noneconomic objective concerning social welfare (social marketing)
- - - - should maximise consumer satisfaction and not company profits
    - - A series of questions that marketers can ask whether marketing undermine consumers’ informed decision-making capacity
  - - - deception (false claims, important omissions, or misrepresentation)
      - playing on a vulnerability (e.g., insecurities (eg body image), addictions, lack of marketplace skills)
    - - only if encouraging:
        
        eat healthy, drink in moderation,
        
        conservation of (natural) resources
        
        health/life insurance, pensions
        
        donate to charity
      - Nudging and choice architecture
        
        putting in place systems and techniques that make it easier
        
        eg giftaid, change boxes on tills
        
        Giving irrelevant information on what others do in hotels or in the neighborhood
        
        Default enrolment to a pension scheme
        
        gives freedom of choice and isn't patronising
  - - - Markets that produce extremely harmful outcomes for individuals
        
        not necessarily easy to determine
        
        eg American medicine
      - Markets that undermine people’s ability to interact as equals (i.e., citizens who can fulfil basic interests) (e.g., slavery, bonded labour)
      - Markets that take advantage of information and agency asymmetries between transacting parties (e.g., child labour, surrogacy, toxic waste)
      - Markets that take advantage of vulnerabilities of one of the transacting parties (e.g., addictions, poverty-driven tissue trade, poverty-driven cash for votes)
    - - Preconditions for markets are not limited to rule of law, property rights, and other exchange infrastructures.