MP&PCh10

MP&PCh10 - Understanding Marketing Ethics Copyright...

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Copyright 2007 Peter R. Dickson Understanding Marketing Ethics
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Profit: Shareholder value Customer Product Distribution Personal Selling Advertising Price Market Ethics
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Be Efficient, be Considerate The first principle of marketing ethics is that marketing’s most fundamental ethical responsibility within the Social Contract it has with Society, at large, is to continue to improve the efficiency of trade, improve our economy’s use of scarce resources, and… to consider the unintended, collective, economic, social and political consequences of marketing practices. In short, be a good manager of the marketing mix and be a good citizen.
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Our personal values, ethics and morals are mostly learned early in life and because we all have very different childhood experiences, and we vary in how much we have read on moral philosophy in our formative years, and we definitely vary in our genetic dispositions to be kind caring and considerate, because of all this variance, our personal moral compasses vary greatly in the directions they point us.
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The Law is Ethic’s Floor (and not Ethic’s Ceiling)
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Laws that protects consumers: Federal Food and Drug Act 1906: Created the Food and Drug Administration and made illegal selling adulterated, contaminated and unsafe food and drugs. Resulted from mass poisonings and public outcry. National Traffic and Safety Act 1958. Set car and tire safety standards. Resulted from the publishing of the book, Unsafe at Any Speed . Child Protection Act of 1966: Prohibits the sales of hazardous toys. Again created as the result of a public outcry. Fair packaging and Labeling Act 1966; Sets standards for disclosing package contents. National Environmental Policy Act of 1970: Established the Environmental Protection Agency to deal with organizations that create pollution. Prompted by Rachel Caron’s book, Silent Spring. Public Health Cigarette Smoking Act 1971: Bans TV and Radio Cigarette ads.
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Consumer Product Safety Act of 1972: Created the Consumer Product Safety Commission and empowered it to specify safety standards for consumer products. Magnusson-Moss Warranty Act 1975: Allows FTC to set warranties rules and allows consumer class action suits. Children’s Television Act 1990: Limits ads in children’s programs. Brady Law of 1993: Imposes a five-day waiting period and a background check before a customer can take possession of a purchased gun. Created after President Regan and Mr. Brady were shot. Americans with Disabilities Act (ADA) of 1991: Protects the rights of people with disabilities; prohibits discrimination against the disabled in public accommodations, transportation, and telecommunication services in particular. Created after prolonged lobbying by handicapped. Do-not-call implementation Act 2003:
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MP&PCh10 - Understanding Marketing Ethics Copyright...

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