ETHICAL MARKETING AS AN INSTRUMENT OF CONSUMER

Transcript:ETHICAL MARKETING AS AN INSTRUMENT OF CONSUMER:
ETHICAL MARKETING AS AN INSTRUMENT OF CONSUMER PROTECTION Subject : Consumer Protection, Unit-4 Paper code: BBAN-604 Prepared By: Bharti Aggarwal (Assistant Professor, DAV Centenary College, Faridabad) Ethics are standards of moral conduct. To act in an ethical fashion is to conform to an accepted standard of moral behavior. Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Ethics and Marketing Ethical marketing refers to the application of marketing ethics into the marketing process. Marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing should be part of business ethics in the sense that marketing forms a significant part of any business model. Ethical Marketing Ethical marketing refers to the process by which companies market their goods and services by focusing not only on how their products benefit customers, but also how they benefit socially responsible or environmental causes. To put this another way, ethical marketing isn't a strategy; it's a philosophy. It includes everything from ensuring advertisements are honest and trustworthy, Building a strong relationships with consumers through a set of shared values. Companies with a focus on ethical marketing evaluate their decisions from a business perspective (i.e. whether a particular marketing initiative will deliver the desired return) as well as a moral perspective (i.e. whether a decision is “right” or morally sound). Features of Ethical Marketing Ethics in Consumer Protection A consumer is defined as someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace Consumer protection measures are often established by law. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers. Market is flooded with duplicate goods having fake labels for selling drugs, food stuffs, consumables like agarbatis, suparis etc. ... This result in disrepute for the products of good companies even though such fake goods are small in quantities. Ethics in Marketing in Consumer Protection Consumer Service Fair Price To Charge Reasonable Margins Non Deceptive Practices: Marketers should avoid deceptive pricing, deceptive promotion, deceptive packaging Sale