To encourage ethical behavior within your marketing group, you have developed a set of guidelines for the managing of your company’s distribution network and product pricing.
Ethical marketing can be defined as ‘a process through which companies generate customer interest in products/services, build strong customer interest/relationships, and create value for all stakeholders by incorporating social and environmental considerations in products and promotions.’ In fact, ethical marketing relates to a chain reaction of ethical principles that holistically flows into all aspects of a company’s marketing processes, from market research to the final customer sale. Although this task is worthwhile, it is not easy.
Patrick Murphy, Gene Laczniak, Norman Bowie, and Thomas Klein, authors of Ethical Marketing, maintain the difficulty of crafting ethical guidelines for organizations. In today’s scandal environment, greater emphasis has been placed on both business and government to enact laws, regulations, and oversights to protect the stakeholders. In demonstrating how ethical marketing works. I will pretend to be a marketing manager developing standards for ethical behavior in my own organization. Given this scenario, I have developed a set of guidelines for the managing of the company’s distribution network and product pricing. Below is the ethical set of guidelines for staff: