Ex tasty and nutritious breakfast food o Phillips AmbientLED light bulbs

Ex tasty and nutritious breakfast food o phillips

This preview shows page 14 - 16 out of 16 pages.

Ex: tasty and nutritious breakfast food o Phillips AmbientLED light bulbs provide good lighting at the same time that they give long life and energy savings The challenges posed by pleasing products is that they sell well but may end up hurting the consumer Goal is to add long-run benefits without reducing the product’s pleasing qualities Marketing Ethics Unethical marketing harms customers and society as a whole It eventually damages a company’s reputation and effectiveness, jeopardizing the company’s very survival Sustainable marketing goals of long-term consumer and business welfare can be achieved only through ethical marketing conduct Companies need to develop corporate marketing ethics policies o Broad guidelines that everyone in the organization must follow
Image of page 14
o These policies should cover distributor relations, advertising standards, customer service, pricing, product development, and general ethical standards Managers need a set of principles that will help them figure out the normal importance of each situation and decide how far they can go in good conscience What principle should guide companies and marketing managers on issues of ethics and social responsibility? o One philosophy is that such issues are decided by the free market and legal system Companies and their managers are not responsible for making moral judgments Companies can in good conscience do whatever the market and legal systems allow o Second philosophy puts responsibility not on the system but in the hands of the individual companies and managers A company should have a “social conscience” Companies and managers should apply high standards of ethics and morality when making corporate decisions, regardless of “what the system allows” Dealing with issues of ethnics and social responsibility in an open way helps to build strong customer relationships based on honesty and trust Many companies routinely include consumers in the social responsibility process Should a company lower its ethical standards to compete effectively in countries with lower standards? No o Many companies are adopting their own codes The Sustainable Company There is a belief that companies who fulfill the needs of wants and customers will thrive Companies that fail to meet customer needs or that intentionally or unintentionally harm customers, others in society, or future generations will decline
Image of page 15
Sustainable companies are those that create value for customers through socially, environmentally, and ethically responsible actions Having concern for tomorrow’s customers ensures the survival and success of the business, shareholders, employees, and the broader world in which they all live Sustainable marketing provides the context in which companies can build profitable customer relationships by creating value FOR customers in order to capture value FROM customers in return
Image of page 16

You've reached the end of your free preview.

Want to read all 16 pages?

  • Spring '15
  • Marketing,  Companies,  Marketers

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes