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Lecture 5

ETHC 3P82 Lecture 5: Business Ethics-Ethic and Marketing

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Brock University
Thomas Mulligan

Ethic and Marketing • We study marketing ethics because it guides our actions and help us manage costs, such as: 1. Personal Costs Embarrassments, possible legal actions 2. Organizational Costs Fines, Bankruptcy, loss of loyalty 3. Societal Costs Addictions, Public Safety Marketing involves using the four P’s 1. Product: Fair Labelling/Packaging, Pollution, Warranties, Quality and Safety, and Planned obsolescence 2. Place: Dumping, Exclusive Territories, Dealers Rights, Predatory Competition 3. Price: Fixing, Discrimination, Increases, Deceptive Pricing 4. Promotion: Bait and Switch advertising, False and Deceptive, Bribery Ethical Consumerism is Not Dead, It Just Needs Better Marketing: • Ethical consumerism is the broad label for companies providing products that appeal to people’s best selves • An example of this type of companies would be, Whole Foods Market, buying goods that are locally grown and healthy for people, and donating part of the profits to charitable causes, their business model is central around doing a good cause • Ethical information is difficult to process and it is common for consumers to want to remain willfully ignorant of it Marketing and the Vulnerable: Advantages of the Marketers: • Greater knowledge of the products, • Expertise on how to market to individuals and target groups • Resources to persuading
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