In the information age, consumers are more critical and better informed about the products they buy and the actions companies take to manufacture and sell them based on marketing strategies .
In fact, one study found that over 90% of consumers would boycott a company if they perceived it to be operating with unethical practices. Consumers are therefore demanding that companies operate under an ethical code they can identify with.
If you really want to connect with your customers and build long-term relationships, it is essential that you understand the concept of ethics in marketing .
What is ethics in marketing?
Let’s start by clarifying what ethics is and sweden telegram data how it relates to marketing.
According to the RAE, ethics is “the part of philosophy that deals with good and brings together the moral standards that govern a person’s conduct in any area of life.” This includes business and entrepreneurial activities.
Therefore, applying ethics within a company is far from being a marketing or advertising strategy . On the contrary, it must be a philosophy that permeates all actions and people within it.
In simple terms, ethics in marketing is about making morally correct marketing decisions, taking into account not only business profit but also the moral perspective and social implications of your actions.
How to create a marketing code of ethics for your company?
The American Marketing Association (AMA) and the Institute for Advertising Ethics (IAE) have implemented codes of ethics that helium activity and past activities provide guidance for any such organization, especially in a society that values information and transparency.
Check them out below and get inspired!
- Marketing communications must be based on truth and integrity;
- The consequences of the company’s actions are the responsibility of its managers , therefore, they must encourage their collaborators to be ethical and responsible;
- Marketers must act professionally;
- The company must fulfill its duties in commercial exchange, that is, deliver its products and services according to the characteristics, prices and times promised;
- Advertising must be clearly differentiated from news, educational or entertainment content ;
- Marketers must strive to ensure that their actions satisfy the company’s interest groups or stakeholders : customers, employees and suppliers;
- the company must protect the privacy of its consumers ;
- Marketing actions must comply with the laws of each country;
- The company must respond promptly to customer complaints;
- the values of the organizational culture must be lived and communicated with its stakeholders.
How to apply ethics in marketing?
So how can your company manifest its b2c reviews marketing ethics? Here are 5 practices your business should implement to externalize its ethical code.
Avoid illegal business practices
Practices such as price discrimination, bait and switch , predatory pricing , price cartels or false promotions reduce the credibility of a brand.
Design original products in perfect working order
Design products with your own original specifications, perfectly assembled or programmed, avoiding, for example, planned obsolescence.
Understand your client’s needs
Rather than closing a sale because it’s what your business needs, try to sell your client a product that really solves their problems.