How to Analyze Ethical Considerations in Marketing Practices
As a part of the academic assignment, do you have to analyze ethical considerations in marketing practices, but don’t know what exactly needs to be done? Since Marketing field has a broad scope, many students get confused about how to cover all the topics related to ethics in marketing. Some common questions like “how can I analyze the ethical considerations in marketing practices, especially when there is a little primary information available on the internet” and “where can I find information on how to analyze ethical considerations in marketing practices” frequently come in students’ mind. Many students even start thinking to hire a write or pay a writer to write their graduate paper in ethical considerations in marketing practices.
You don’t need to worry now as you are at the right place. We have devised a conceptual framework which will help you analyze ethical considerations in marketing practices of any organization across the world.
Ethical considerations in marketing refer to the application of ethical principles in marketing activities. Ethical marketing essentially means doing the right things while promoting a product. Although there are no universally accepted norms of ethical principles, it lay focus primarily on honesty, fairness, transparency, and responsibility.
The framework to analyze the ethical considerations has been categorized into five broad elements; Offerings, Pricing, Promotions, Privacy & Confidentiality, and Professional Conduct. Each of these items is explained as follows:
Product or Service
The most important element of any marketing strategy is the product or the service sold by a company. You need to evaluate the elemental design of the offering which includes quality, safety, packaging, branding, and warranty.
The ethical obligations associated with each of these elements is as follows:
Quality: Striving not only for originality and innovation but ensuring a standard quality product is essential in ethical marketing. It is the responsibility of the organization to adhere to the established quality standards and surpasses the defined claim. Thus, analyze the originality of the product and validate the quality claims made by the company to analyze its ethical considerations in maintaining the quality of the product.
Safety: Check whether the organization is putting customer safety before everything else or not. Security breaches which could hamper the client’s safety and security are not only unethical, but it is also illegal. It is an unstated promise that all companies must fulfill at every cost.
Packaging and Branding:The packaging should provide accurate and adequate information regarding the product. Any misleading and partial information is unethical.
Warranty: Check an organization’s warranty promises and evaluate the service delivery mechanism to check if the efforts made by the company is enough to fulfill its obligations. It is unethical on the part of businesses to intentionally delay or avoid fulfilling the warranties to save on expenses and earn more profits.
The following factors constitute price of a product
- Manufacturing and overhead costs
- Competitor’s pricing
- Distribution Costs
- Marketing Campaigns
- Average profit margins
- Perceived Value
However, many times corporations indulge in unfair practices and overcharge customers. When you are writing an assignment on ethical consideration in marketing practices, you must evaluate the factors mentioned above and check if the firm has an optimum pricing strategy.
Overpricing due to artificial shortages or bad mouthing competitors is unethical. The pricing strategy plays a crucial role in services’ marketing where a consumer can’t evaluate the quality of offerings before consumption. Thus, the services must be priced in the way that customers perceive it value for money. For instance, many taxi providers charge a surge pricing which escalates the cost of travel significantly during peak hours. Many countries have put a cap on how much a taxi service provider can charge customers in the name of surge pricing. Thus you need to find if your chosen organization has found ways overcharge customers.
Highlighting the benefits of the product without making false promises and outrageous claims is an essential part of ethical marketing.
The following are some of the instances which are considered unethical in advertising or promotions:
- Advertising a product on sale to attract customers to purchase more expensive goods
- Displaying discounted products after hiking the price
- Brainwashing people to buy a product even when they do not need it
- Making racial, sexual, or lewd comments against others
- Involving in inappropriate or violent marketing strategies targeted to young audience
- Badmouthing, excessive slangs, and content not suitable for all age groups
- Overlook and not adhere to self-regulatory rules set by the government
- Mislead customers with unverified claims like that of free tickets or free holidays
- False brand comparisons against competitors
- Badmouthing and false allegation against competitor products
When writing the paper in ethical consideration in marketing, you must evaluate the advertising and promotions activities adopted by companies, distributors as well as their retailers.
Privacy and Confidentiality
Every market research involves gathering confidential data about their targeted customers. Individuals are autonomous agents with the right to exercise privacy and confidentiality. Maintaining privacy and confidentiality in marketing helps protect a client from potential threats and harm including psychological, physiological, and physical distress. Unacceptable methods of marketing involve:
- Gathering sensitive data without customer knowledge
- Gathering information through medical records or registry
- The information collected either from covert observations or third parties
The scope of professional conduct includes, but not limited to, keeping promises, treating competitors, customers, and employees with respect, and indulging in honest practices. It also encompasses nondiscriminatory behavior towards people, cultivating unity in diversity, and providing equal opportunity for every member associated with the organization.
It may be hard for you to gather information about the professional conduct of the employees and management for writing the paper in ethical consideration in marketing practices. However, you can manage it through primary sources. Write a brief questionnaire and speak to a few people in the organization. Use qualitative techniques to evaluate their responses to find the ethical practices in the conduct of the overall organization. You should also check if the company is adhering to environmental laws, federal and state safety regulations, applicable civil rights legislation.
You can use the framework discussed above to analyze the ethical considerations in marketing practices and write your assignment. In the real-world scenario, the context can slightly influence the structure. Thus, while writing the assignment, integrate the context of the case with the conceptual framework to administer a coherent and an accurate analysis.