What are Marketing Ethics?

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Definition of Marketing Ethics
Marketing Ethics are the basic principles and values that govern the business practices of those engaged in promoting products or services to consumers. These are a set of criterion by which moral principles are considered within the marketing profession and execution of an advertising campaign for a business and/or organization.
Marketing Ethics in Global Marketing Practice
In recent years, owing to the internationalization of markets, businesses and production processes, more and more marketers and entrepreneurs have to deal with ethics and social responsibility issues in cross-cultural settings. Growth in globalization increased the ethical and social responsibility of corporations across the world. Huge Multinational corporations often have more bargaining power than some of the national governments. At times the annual turnover of these corporate giants is greater that the GDP of some national governments for example Annual revenue of General Motors is bigger than the GDP of Bangladesh (Bangladesh's GDP: $104.92 billion GM's Revenue: $135.59 billion (Business Insider). International markets specially those of developing and under-developed countries can be exposed to unprincipled marketing practices due to their weaker economic potential, low bargaining power, lack of legal framework and law enforcement to protect domestic companies, consumers and society as a whole. The problem of ethics is considerably more intricate in international marketplace, because value judgments differ widely among culturally diverse groups.
Need for Ethical Literacy and Ethics Review framework
The literature provided emphasizes the role of marketing communications in creating perceptions and influencing human behavio...

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...s that can be used to judge the ethical neutrality of a campaign so that it does not end up negatively impacting any section of the society.

References:
Articles Reviewed:
1. Jonathan E.Schroeder and Janet L. Borgerson (2002) “Ethical Issues of global Marketing: Avoiding bad faith in visual representation”, European Journal of Marketing, Vol. 36 Iss: 5/6, pp.570 – 594
2. Jonathan E. Schroeder, Janet L. Borgerson, (2005) "An ethics of representation for international marketing communication", International Marketing Review, Vol. 22 Iss: 5, pp.578 – 600
3. Wible, Andy. "It’s All on Sale: Marketing Ethics and the Perpetually Fooled."Journal of business ethics 99.1 (2011): 17-21.
4. Business Insider: http://www.businessinsider.com/25-corporations-bigger-tan-countries-2011-6?IR=T#general-motors-is-bigger-than-bangladesh-18 (last accessed on- 2nd March 2014)
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