Marketing Ethics
Marketing by pharmaceutical companies is negatively impacting physicians' prescribing practices, influencing them to prescribe the marketed drugs rather than others which may be cheaper or better for the patient.
Ethics are distinctions between right and wrong. Marketers are ethically responsible for what is marketed and the image that a product portrays. Marketers need to understand what good ethics are and how to incorporate good ethics in various marketing campaigns to better reach a targeted audience and to gain trust from customers.
Marketing ethics, regardless of the product offered or the market targeted, sets the guidelines for which good marketing is practiced. To market ethically and effectively one should be reminded that all marketing decisions and efforts are necessary to meet and suit the needs of customers, suppliers, and business partners. Ethical behaviour should be enforced throughout company culture and through company practices.
Issues
Ethical problems in marketing stem from conflicts and disagreements. Each party in a marketing transaction brings a set of expectations regarding how the business relationship will exist and how transactions should be conducted. Each facet of marketing has ethical danger points as discussed below.
Some ethical problems in market research are the invasion of privacy and stereotyping. The latter
--------occurs because any analysis of real populations needs to make approximations and place individuals into groups. However, if conducted irresponsibly, stereotyping can lead to a variety of ethically undesirable results.
Whether targeted marketing or market research is appropriate. Example: targeting sales of high risk financial products (e.g. adjustable rate mortgages) to low income individuals.
Whether marketing and selling high health risk products is ethical (e.g. tobacco products, alcohol, pharmaceuticals, etc.).
Whether marketing that enhances stereotypes is appropriate (e.g. portraying women as
Ethics are distinctions between right and wrong. Marketers are ethically responsible for what is marketed and the image that a product portrays. Marketers need to understand what good ethics are and how to incorporate good ethics in various marketing campaigns to better reach a targeted audience and to gain trust from customers.
Marketing ethics, regardless of the product offered or the market targeted, sets the guidelines for which good marketing is practiced. To market ethically and effectively one should be reminded that all marketing decisions and efforts are necessary to meet and suit the needs of customers, suppliers, and business partners. Ethical behaviour should be enforced throughout company culture and through company practices.
Issues
Ethical problems in marketing stem from conflicts and disagreements. Each party in a marketing transaction brings a set of expectations regarding how the business relationship will exist and how transactions should be conducted. Each facet of marketing has ethical danger points as discussed below.
Some ethical problems in market research are the invasion of privacy and stereotyping. The latter
--------occurs because any analysis of real populations needs to make approximations and place individuals into groups. However, if conducted irresponsibly, stereotyping can lead to a variety of ethically undesirable results.
Whether targeted marketing or market research is appropriate. Example: targeting sales of high risk financial products (e.g. adjustable rate mortgages) to low income individuals.
Whether marketing and selling high health risk products is ethical (e.g. tobacco products, alcohol, pharmaceuticals, etc.).
Whether marketing that enhances stereotypes is appropriate (e.g. portraying women as