BUSINESS ETHICS IN MARKETING

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Slide 1:

BUSINESS ETHICS IN MARKETING & ADVERTISING DHEERAJ KOEL NEHA SHASHI

What is Marketing Ethics ?:

What is Marketing Ethics ? Marketing ethics is the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing . Some areas of marketing ethics (ethics of advertising and promotion ) overlap with media ethics .

Frameworks of analysis for ethical marketing:

Frameworks of analysis for ethical marketing Possible Framework:- Value oriented framework Stake holder oriented framework Process oriented framework

Is Marketing Inherently Evil? :

Is Marketing Inherently Evil? Damaging personal autonomy . Causing harm to competitors . Manipulating social values.

Specific issues in Marketing Ethics:

Specific issues in Marketing Ethics

Marketing Research:

Marketing Research Ethical danger points in market research include: Invasion of privacy Stereotyping

Marketing Audience:

Marketing Audience Ethical danger points include: Excluding potential customers from the market. Targeting the vulnerable.

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ADVERTISING & PROMOTION

Advertising and Promotion: Two Viewpoints:

Creates Needs and Wants Among Consumers Promotes Materialism, Insecurity and Greed Is More Propaganda Than Information Provides Information Creates Jobs and Helps New Firms Enter a Market Encourages A Higher Standard Of Living Promotes Competition in The Marketplace Is More Propaganda Than Information Creates Needs and Wants Among Consumers Creates Jobs and Helps New Firms Enter a Market Encourages A Higher Standard Of Living Provides Information Advertising and Promotion: Two Viewpoints Proponents Argue That Advertising and Promotion: Critics Argue That Advertising and Promotion Promotes Competition in The Marketplace

Ethics in Advertising and Promotion:

Not All Issues Can Be Regulated A Marketing or Promotion Action May Be Legal but Not Considered Ethical Marketers Must Make Decisions Regarding the Appropriateness of Their Actions A Marketing or Promotion Action May Be Legal but Not Considered Ethical Not All Issues Can Be Regulated Ethics in Advertising and Promotion Ethics: Moral principles and values that govern the actions of and individual or group.

Advertising and Promotion as Untruthful or Deceptive:

General Mistrust of Advertising and Among Consumers. Many Do Not Perceive Ads As Honest or Believable General Mistrust of Advertising and Among Consumers. Many Do Not Perceive Ads As Honest or Believable Abuses Involving Sales Promotions Such As Contests, Sweepstakes, Premium Offers Unethical And/or Deceptive Practices Involving Mail Order, Telemarketing and Other Forms of Direct Marketing Internet Scams and Abuses Abuses Involving Sales Promotions Such As Contests, Sweepstakes, Premium Offers Unethical And/or Deceptive Practices Involving Mail Order, Telemarketing and Other Forms of Direct Marketing Advertising and Promotion as Untruthful or Deceptive

Advertising and Children:

Advertising and Children Children's TV Watching Behavior Children between ages 2-11 watch on average 21.5 hours of TV per week and may see 22,000 commercials per year Television is an important source of information for children about products

Perspectives on Advertising to Children:

They Lack the Knowledge and Skills to Critically Evaluate Advertising Claims They Cannot Differentiate Between Programs and Commercials Children Must Learn Through the Socialization Process Children Must Learn Through the Socialization Process They Cannot Differentiate Between Programs and Commercials They Lack the Knowledge and Skills to Critically Evaluate Advertising Claims Perspectives on Advertising to Children Need to Acquire Skills Needed To Function in the Marketplace Consumer Advocates Argue That Children Are Vulnerable to Advertising Because: While Marketers Argue That:

Social and Cultural Consequences of Advertising:

Does Advertising Make People Buy Things They Don’t Need? Does Advertising Encourage Materialism? Does Advertising Encourage Materialism? Does Advertising Make People Buy Things They Don’t Need? Social and Cultural Consequences of Advertising Is Advertising Just A Reflection of Society?

Advertising and Stereotyping:

Portrayal of Women to Reflect Their Changing Role in Society Portrayal of Women As Sex Objects Ethnic Stereotyping/ Representation of Minorities Ethnic Stereotyping/ Representation of Minorities Portrayal of Women As Sex Objects Gender Stereotyping Gender Stereotyping Portrayal of Women to Reflect Their Changing Role in Society Advertising and Stereotyping Portrayal of The Elderly Criticisms of Advertising With Regard to Stereotyping

Do Advertisers Control the Media?:

Advertising Is the Primary Source of Revenue for Newspapers, Magazines, and Television and Radio Networks and Stations Advertisers May Exert Control Over The Media by Biasing Editorial Content, Limiting Coverage of Certain Issues or Influencing Program Content The Media’s Dependence on Advertising For Revenue Makes Them Vulnerable To Control by Advertisers Advertising Is the Primary Source of Revenue for Newspapers, Magazines, and Television and Radio Networks and Stations The Media’s Dependence on Advertising For Revenue Makes Them Vulnerable To Control by Advertisers Do Advertisers Control the Media?

Do Advertisers Control the media?:

They Must Report the News Fairly and Accurately to Retain Public Confidence Advertisers Need the Media More Than the Media Need Any One Advertiser Advertisers Need the Media More Than the Media Need Any One Advertiser They Must Report the News Fairly and Accurately to Retain Public Confidence Do Advertisers Control the media? The Media Maintain Separation Between News and Business Departments “The Wall”

Role of Advertising in the Economy:

Making Consumers Aware of Products and Services Providing Consumers With Information to Use to Make Purchase Decisions Providing Consumers With Information to Use to Make Purchase Decisions Making Consumers Aware of Products and Services Role of Advertising in the Economy Encouraging Consumption and Fostering Economic Growth +

Economic Impact of Advertising:

Effects on Consumer Choice Differentiation Brand Loyalty Effects on product costs and prices Advertising as an expense that increases the cost of products Increased differentiation Effects on Competition Barriers to entry Economies of scale Effects on Consumer Choice Differentiation Brand Loyalty Effects on Competition Barriers to entry Economies of scale Economic Impact of Advertising

Advertising Helps New Competitors Enter the Market:

Advertising Helps New Competitors Enter the Market

Do You Agree With Leo Burnett?:

Do You Agree With Leo Burnett? “It must be said that without advertising we would have a far different nation, and one that would be much the poorer-not merely in material commodities, but in the life of the spirit.” These excerpters are from a speech given by Leo Burnett on the American Association or Advertising Agencies’ 50th anniversary, April 20,1967

Case Study Nike:

Nike has been criticized lately about NOT being socially responsible Accusations of overseas sweatshops, child labor, and exploiting lower income U.S. families Nike took the charges seriously and commissioned a study of Nike factories abroad Nike donates more than $30 million in cash and products to sports programs and 3% of earnings to charity CEO Knight – “not sure how we measure good performance in corporate responsibility” Case Study Nike

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THANK YOU