Utilitarian Ethical Theory And Pursue Ethics In Business Marketing

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As you embark in entrepreneurship opportunities it is important to understand what marketing is and how it will impact or benefit your business. According to MKTG9, marketing has two facets, first it is a philosophy that concentrates on customer satisfaction and second, it is a set of processes used to implement the philosophy. (Lamb, Hair, & McDaniel, 2014) Marketing can be a good tool to improve sales, but it can also be harmful if marketing ethics are not considered. You may ask, what is ethics and how does this collate with business marketing. MKTG9 defines ethics as, “… the moral principles or values that generally govern the conduct or an individual or a group.” When a company has good business ethics, they are considered to be…show more content…
For the purposes of this report we will discuss only two: utilitarian ethical theory and virtue ethics. According to MKTG9, page 35, utilitarian ethical theory is, “ethical theory that is founded on the ability to predict the consequences of an action.” An excellent example of utilitarianism is described in futureofworking.com, “utilitarianism in business is the practice of having tiered pricing for a product or service to different types of customers. For example, the airline industry offers first class, business class and economy class seats on many of their…show more content…
They have been in business since 1972 and have been able to earn the trust of many consumers based on their honesty and desire to provide honest overhaul or replacement transmission service at a reasonable price. On the other hand, Ethisphere is another organization that promotes ethical business standards and selects companies that have outperformed in terms of good ethical practices and performance. Ethisphere scores the companies by scoring them based on ethics and compliance program, corporate citizenship and responsibility, culture of ethics, governance, and leadership, innovation and reputation. Ethisphere, selected companies such as PepsiCo, Inc. and Starbucks based on their own scoring methodology. (Ethisphere, 2016) It is interesting to see that neither of the two companies that were scored as ethical companies by Ethisphere are not accredited by the BBB. Each organization has its own set of standards but each one takes business ethics to be a primary identifier for their selection process. As a consumer, our experiences and recommendations from friends, organizations such as BBB and Yelp, we want to make sure that we are supporting businesses that have good business ethics. This gives us a sense of peace of mind that we know, we will get the best for our money plus that we can depend on the business to be around for a long time. As business owners, are we practicing

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