Ethical thoughts of Marketing for Developing Economies

Values of Marketing for developing economies : 

Values of Marketing for developing economies Dr. H. Kwame Afaglo ©2010

Values of marketing for developing economies : 

Values of marketing for developing economies Inasmuch as most economies are actively involved in international trade, goods, services and country images have a direct effect on acceptance and pricing. Some products have become an acceptable image of specific countries, say, the red telephone box is that of United Kingdom (UK), Kente cloth representing Ghana, the image of an amphitheatre with a sportsman is that of Olympics of the Roman Empire. Also, some Trans-National Corporations products have become an image of specific countries, say, McDonalds for United States of America (US).

Values of marketing for developing economies : 

Values of marketing for developing economies Despite the wide variations in products its acceptance onto the international marketplace is largely dependent on the value systems upon which marketers operate. The importance of operational value systems is not akin to only products, but also state image and their international relations. Most developing countries are engaged in canvassing for Trans-National Corporations (TNCs) plying their trade in their respective countries, however, some of the leaders have turned a blind eye to the relevance of the values of marketing.

Values of marketing for developing economies : 

Values of marketing for developing economies Simply put, values are the do and don’ts of every society for relative harmony and progress. Just as a reasonable number of professional bodies have a well defined ethics of operation so does marketing. Respective marketing associations of various countries have their code of ethics. Ethics primarily has to do with acceptable and unacceptable behaviours for relative harmony and progress. It is clear that ethics and values have some common philosophies, i.e. relative harmony, progress.

Values of marketing for developing economies : 

Values of marketing for developing economies Although, it would be prudent for all values to be written and a universal marketing code of ethics to be adapted, it is not so in practice. The reason d'état are: Law – The legal system of some countries are driven on the back of both written and unwritten laws, e.g. English common law. Some countries have an integrated customary and written laws, e.g. Ghana Orientation – Certain belief systems does have a strong impact the marketing code of ethics, e.g. profession, religion etc. Some professions prohibit marketing and canvassing of which forms part of their code of ethics e.g. legal services.

Values of marketing for developing economies : 

Values of marketing for developing economies Some religions prohibit consumption of certain products and will not permit its marketing of any form. Marketers must know the do’s and don’ts of their market. Culture – Uniqueness of group values makes it relatively difficult to establish a universal code of ethics of marketing. In other words, a practice that may be perceived as unacceptable in one culture may be acceptable in another. Say, an advertisement that seeks to project the advantages of a brand above other firms’ product is unacceptable in some developing economies, but in some developed economies it is acceptable provided the information are factual.

Values of marketing for developing economies : 

Values of marketing for developing economies Although it is difficult to establish a universal code of ethics of marketing, it is not impossible. An attempt is made in this presentation to provide some basic values of marketing that contributes to gaining competitive advantage by firms in the international marketplace and developing economies in their international investment attractions.

Values of marketing for developing economies : 

Values of marketing for developing economies The marketing values are: Availability of information – It is not only sufficient product information that must be provided to all prospective consumers, but the product information must also be easily accessible, legible and comprehensive (simple language and not technical jargons). With a growing number of consumers having good product knowledge based on comparable analyses of choice, it is expected that every product must provide legible information and in simple

Values of marketing for developing economies : 

Values of marketing for developing economies language. In other words, product information must neither be in small unreadable prints nor the technical language (jargons) been used. E.g. banking products contracts unethically prefer to present their terms and conditions in small prints and use financial jargons to the detriment of clients. Car parking lots and other goods and services in a number of developing countries do not openly display product information e.g. prices are not displayed and the so-called onus is on the consumer to ask. In some cases, the tendency is high that, consumers are ‘slapped’ with the charge at the

Values of marketing for developing economies : 

Values of marketing for developing economies exit point, though an open entry without a publicised conditions is upheld. These are unacceptable marketing values of which developing economies must immediately take action through regulations to redress. Accuracy of information – Sufficient product information is good and its accuracy is better. It is not worth mentioning that a lot of indigenous products from developing economies have little or no information about composition and standards. Consumer right and independent regulatory bodies must ensure all products are well packed and branded with accurate information.

Values of marketing for developing economies : 

Values of marketing for developing economies Data protection – Consumer information must be kept with utmost confidentiality as expected by consumers and data protection act. Much as there is a increasing rate of infringements on privacy of consumers, especially online consumers, by the use of various latent software, marketers are supposed to live above board in issues of confidentiality of client information among others. A firm’s ability to adhere strictly to this policy will gain competitive advantage over other organisations whose platform are weak in terms of data protection.

Values of marketing for developing economies : 

Values of marketing for developing economies Simply, most consumers will prefer trading with a firm that retains their personal data within its premises, as compared to unsafe platforms. E.g. Swiss banks have gained high profile clients based on their high level of secrecy they provide their clients. Company registration and independent regulatory institutions of various developing countries are to enforce data protection acts. Further, brand registration departments should form part of the independent copyright protection institutions of various countries. This will boost innovation and strengthen

Values of marketing for developing economies : 

Values of marketing for developing economies branding. Most small-to-medium size firms operating in developing economies have not registered their company names let alone think of logos and innovation. Abuse, concealment, manipulation and misrepresentation – There is a perception of marketers acting in every way to close a deal and enjoy their profits or bonuses. Hence they purposely misrepresent the efficacy of product, manipulate clients and even conceal vital information just for their personal gratification being profit or bonus. This is unreservedly unacceptable to the practice of marketing.

Values of marketing for developing economies : 

Values of marketing for developing economies Marketers are expected to give a factual representation of their product’s ability at all times. A case in point is, L’Oreal’s anti-wrinkle cream that was made to be withdrawn from the UK market on grounds of misrepresentation of its efficacy by the independent regulatory body sometime in 2005. Legislation in developing economies must promulgate laws to redress the current unethical state of misrepresentation, concealment and manipulation of customers. Quite a number of advertisements on Ghanaian

Values of marketing for developing economies : 

Values of marketing for developing economies television and radio stations have suspiciously fallen foul of this value. Business communications – Here, listening on the part of marketer is highly desired, especially when doing international marketing. Oral language must be combined with body language in order for meaning to be arrived at. Cultural meaning of business language is another factor to be understood, e.g. if a Ghanaian business person responds ‘Yes’ it means a conditional approval with slight scratches of the head, however if he or she say ‘Yes master’ or Yes madam’ it means the condition has been fulfilled and approval given with smiles. Further, it is expected of a marketer to be polite and well-mannered at all times to customers and prospective ones alike.

Values of marketing for developing economies : 

Values of marketing for developing economies Rude speech or demeaning remarks of prospective customers is unacceptable e.g. ‘won paea kor’ (If you do not like it, go away customer!) attitude of some Ghanaian convenient shop owners is inappropriate and counter excellence in service delivery. Such unethical attitudes must be redress through training of shop owners in the code of ethics of marketing. Giving and receiving gifts, grafts, bribery and corruption – Marketers must only give gifts that are reasonable and not tailored to take advantage of client.

Values of marketing for developing economies : 

Values of marketing for developing economies The word ‘FREE’ should stand for its factual meaning, attracts no fee or price or obligation. Promotional strategies as ‘Buy One Get One FREE’ ‘ Buy One Get second half Price’ etc must be based on strictly the real price and not manipulated re-pricing to increase mark-up. The converse (gifts fro customer to marketer) is even strict, in that marketer’s are not allowed to receive gifts, else it could compromise their standards and likened to bribery and corruption.

Values of marketing for developing economies : 

Values of marketing for developing economies The later (bribery and corruption) or graft is one charge that is quite broad and could cause marketer to loose face if not legal consequences or revocation of membership of professional association. Excellence in service delivery – As part of the requirements of excellence in service delivery is the Just-In-Time (JIT) principles to be implemented by marketers. Marketers must do well to return telephone calls within good time, attend appointments on time and essentially deliver products on promised date.

Values of marketing for developing economies : 

Values of marketing for developing economies Changes in contact with clients must be communicated to clients in due time and marketer must do well to make up for the lapse with rebates or promotional courtesy products. Returns policy – Ninety (90) days returns policy is rare in most developing economies, though a common practice in developed economies. In other for firms in developing economies to effectively implement a returns policy, it is worth

Values of marketing for developing economies : 

Values of marketing for developing economies integrating insurance as part of pricing products. This gives assurance to customers and retains customers if not building an army of loyal customers. After sales policy – The same insurance if incorporated in pricing of goods and services will take care of after sales services. Both after sales and returns policies must be adhered to the spirit of the lettering. After all, it has been paid for by the customer and it is only fair that the professional values be upheld as obligatory and not conditional or perceived as a favour from marketer to clientele.

Values of marketing for developing economies : 

Values of marketing for developing economies Although values are sometimes ignored or proverbially ‘thrown to the dogs’ in the current competitive global marketing, for-profit and not-for- profit organisations in developing economies that practice the discussed values will to a significant extent record expanded clientele base, increase sales, benefit from higher returns, and gain a competitive edge over other firms in the medium-to-long term.

Values of marketing for developing economies : 

Values of marketing for developing economies Thank you