Class Notes (836,321)
Canada (509,763)
Marketing (1,395)
MKT 100 (974)

module 3

4 Pages
Unlock Document

MKT 100
Paul Finlayson

Module 3: Social Responsibility Codes of Ethics Company codes of ethics in practice • emphasizes honesty, truthfulness in comm w/ consumers,& avoidance of immoral practices. • ethical dilemmas arise during implementation of marketing strategy d/ • Cutting ethical corners is approved and even encouraged to make the pitch, the sale double standard = whistleblowers have careers ended = Pepsi and Coke • ethical accountability nazi • Ethical behaviour in trading requires that both the buyer and seller behave ethically not take a stand is to sell out one’s values, self-respect and soul. • ethics ombudsman - someone senior in the organization managers can go to and receive a sympathetic hearing Highlights of the Canadian Marketing Association Code of Ethics • Not disseminate unsolicited material • not exploitation of any person or group ( race, colour, ethnicity, religion) or competitor • must be clear and truthful not mislead or deceive consumers • not misrepresent a product • realize the age group being marketed to (kids, teenagers) • portrayal must accurately and fairly describe the product • data referred to must be reliable, accurate and current and must support claim • avoid undercover or word-of-mouth marketing initiatives • genuine bills, invoices or government documents must not be used. • guarantee for repair, replacement, refund or other remedy must be honoured promptly. A Personal Ethics Checklist • Ethical vigilance - paying attention to whether one’s actions are right or wrong - The set we espouse and want others to apply in their behaviour toward us, and The code of ethics that, for whatever rationalizations, we actually live by. Understanding Marketing Ethics • ethical codes break down, societies cease to function and ultimately collapse • trade in a society and profit from trade have social and moral obligation to accept general ethical rules of society • Different cultures have different ethical rules The most good for the most people: the utility principle • utility principle - ethical behaviour is the behaviour that produces the greatest good we, who are ethical in our values, stay in business even if it means that we have to sometimes stoop to the unethical practices of our rivals • hard to separate our desires/ goals from judgment of what is right • more desperate the company= lower ethical standards = more d/m/ fixated on how comp will benefit. • rationalization - behaving unethically for the total good and means justifies the end The categorical imperative Module 3: Social Responsibility • Tragedy of the Commons effect - what if everyone did it issue = alt to limitations of the utility principle • advertising puffery (exaggerated claims…lying) reduce the efficiency of markets • categorical imperative - way ethical thinking takes situation/ context out of the ethical evaluation requires the decision maker to “see” the universal wrong or evil in the act • Situational ethics - when right and wrong are determined by the specific situation • both utilitarian situational ethics and the categorical imperative still require a basic set of values The source of our ethics • spiritual and religious beliefs and society greatly influence our ethics • believer of another religion may apply his or her religious ethics to all situations uncertainty in market = decrease efficiency of market. • Having a predominant religion as the core for trading ethics = common framework to decide what is right and economically efficient. Global cross-cultural ethics • new traders = not same ethics = changing trust • blood diamond - a diamond initially obtained through slavery and murder • when-in-Rome philosophy - not using own ‘moral compass,’ instead replacing it w/ ethics of foreign trading partner. • major religions and cultures do share many common norms and ethics • international marketers face dilemma where their personal moral compass clashes with situational issues and trade-offs among the interest groups a
More Less

Related notes for MKT 100

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.