The reasons for ethical behaviour in marketing are as follows:
Reasons
1. Well – being of consumers:
Management should be concerned with the well- being of consumers, since they are the lifeblood of a business. Ethical behaviour in marketing strategies, policies and campaigns ensure acknowledgment of consumer’s interests.
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2. Role of business leaders in marketing:
Marketing activities should not be interpreted wrongly by public as consisting of misleading packaging labels, false claims in ads, phony list prices, and infringements of well established trademarks.
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To reverse the damaged reputation, business leaders must demonstrate convincingly that they are aware of their ethical responsibility and will set and enforce high ethical standards.
3. Reduced Government regulations:
Unethical marketing behaviour increases the probability of government control on business. Most of the Governmental limitations on marketing are the result of management’s failure to maintain its ethical responsibilities in marketing.
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To avoid such regulations and retain their freedom of operations by caring for the consumer’s interest on a voluntary basis.
4. Regain social power:
Marketing executives manage a great deal of social power as they influence the markets and speak out an economic issue. However, there is responsibility tied to that power. If marketing executives do not use their power in a socially acceptable manner, that power will be lost in the long run.
5. Boost public image:
Buyers form an opinion about the entire organization on the basis of their contact with one person i.e. the person who represents the marketing function (e.g. A sales clerk for retail store) Ethical marketing behaviour can protect and improve the image of the enterprise.