MKT 100 Lecture Notes - Lecture 26: Marketing Ethics, Business Ethics, Root Mean Square

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

Marketing ethics, in contrast, examines those ethical problems that are specifi c to the domain of marketing. The process of creating a strong ethical climate within a marketing fi rm (or in the marketing division of any fi rm) includes having a set of values that guides decision making and behavior, like johnson & johnson"s credo. Everyone within the fi rm must share the same understanding of these values and how they translate into the business activities of the fi rm, and they must share a consistent language to discuss them. Once the values are understood, the fi rm must develop a set of explicit rules and implicit understandings that govern all the fi rm"s transactions. Top management must commit to establishing an ethical climate, but employees throughout the fi rm also must be dedicated because the roots of ethical confl ict often are the competing values of individuals.