Business Studies

Apply: Ethical and Socially Responsible Marketing Analysis
Assignment Content

Write a 350- to 575-word analysis and evaluation of a company’s effectiveness in the following areas:
o Distinguish between social responsibility, ethical, and legal issues, and their effect on marketing.
o Relate the triple bottom line to an organization’s sustainability.
o Analyze consumer influence on ethical behavior in marketing.
o Assess the value of communicating ethical behavior to the public.
o Conclude how ethical issues influence legal issues in marketing.

Format your assignment according to APA guidelines.

Submit your assignment.

ANSWER

Business Ethics

Social responsibility is when the company is anxious about society, people, and the surroundings with whom and where they do business. In its most basic way, socially accountable marketing is implementing ethical actions that positively affect all the organization’s workers and other stakeholders. In this scenario, the primary role of marketers is to package and converse the company’s decisions that will affect the societies in which they interrelate (Bennett, 2018). On the other hand, moral marketing is a viewpoint that emphasizes honesty, responsibility, and fairness. Some of the principles linked with this action include a common standard of accuracy in marketing communications and clear and transparent approval. Legal issues in marketing involve focusing on safeguarding customers’ privacy and maintaining transparency in how the consumer’s information is used.

Triple Bottom Line

The triple bottom line is among the primary systems utilized by organizations to evaluate their profits through their shared sustainability approaches. The mechanism needs one to see past the traditional bottom line of business to the business’s profits economically, environmentally, and socially. Measuring the business through this technique is one of the greatest markers of how sustainable the trade is and its profitability. Under social sustainability, it measures the organization’s profits in human assets, including its position within the restricted society. The bottom line is enlarged through having reasonable and valuable practices through corporate social involvement. Still, the triple bottom line mechanism to sustainability considers that the smaller impact the business has on its surroundings, and the lesser natural resources it consumes, the longer and more successful the business will get.

Consumer Influence

Marketing ethics highlights the policies and standards that evaluate acceptable conduct in the market environment. While there is a diverse view in what people term right versus wrong, there are generally agreed-upon policies about the proper way to market products and services (Bennett, 2018). Despite the business’s size and location, the management can choose to handle the marketing and advertising to consumers in an honest, open, and respectful way. An ethical consumer means getting items that are ethically produced and harmless to the environment. This can be as easy as buying free-range eggs or as difficult as boycotting products provided by child labor. Ethical consumption is a powerful aspect of change in marketing procedures. It means a company has to produce items that are in line with the consumer’s ethical considerations.

Value of Ethical Communication

Ethics in business communication is the basis of decision-making and accountable planning needed to encourage growth. Communicating the truth is normally just the start, and business ethics must be upheld for relationship building, whether between people, organizations, and their customers. The business should take responsibility for the messages they sent, whether the communication between two workers, from top management to staff, or from the marketing divisions to clients. Honest communication helps the business build trust with consumers and workers. It begins by devising a plan, which normally takes the form of a code of ethics; however, implementing it would need educating employees concerning its specifics.

Ethical Issues on Legal Marketing

Both ethical and legal issues are present mechanisms in any business structure. Major institutions fear harm to their image linked with press revelations of unprincipled actions. Marketers have been efficient in perceiving the market’s inclination for ethical organizations, often moving quickly to take benefit of this customer taste modification. Despite the item, marketing ethics, offered or the targeted market, set legal guidelines and protect them concurrently. Therefore, ethics and legal operate together to maintain successful business actions.

References

Bennett, E. A. (2018). Extending ethical consumerism theory to semi-legal sectors: insights from recreational cannabis. Agriculture and human values, 35(2), 295-317.