MKT 3000 Chapter 4: Chapter 4
Document Summary
Ethical question managers face: how to balance shareholder interests with the needs of society. For markets the firm"s ability to maintain consumer trust and conducting ethical transparent clear transactions must be of paramount importance. Business ethics refers to the moral or ethical dilemmas that might arise in a business setting. Marketing ethics, in contrast examines those ethical problems that are specific to the domain of marketing. Sale of products or services that may damage environment. Deceptive advertising: is a representation, omission, act or practice in an advertisement that is likely to mislead consumers acting reasonably under circumstances. In marketing managers often face choice of doing what is beneficial for them and the firm and the short run. And what is right and beneficial for firm and society in long run. To avoid unethical behavior: short term goals of employees must be aligned with long term goals of firms. Firms need to have strong ethical climate.