Ethical marketing incorporates social and environmental considerations to generate customer interest and build strong relationships. It identifies how advertising decisions impact stakeholders, estimates the costs and benefits to affected parties considering their interests, and ranks options by costs and benefits to make the best decision. Steps include identifying decision options and consequences, determining who is positively and negatively impacted, and choosing the option with the highest overall benefits after weighing each perspective.
2. MEANING:
• Ethical marketing is a process through which
companies generate customer interest in
products/services, build strong customer
interest/relationships, and create value for all
stakeholders by incorporating social and
environmental considerations in products and
promotions.
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9. Steps To Be Taken By Advertising Industry:
Identifying the decision options and the likely
consequences of each
Indentifying all individuals and organizations that
will be positively and negatively affected by the
consequences of each option.
Estimating the negative impact(costs) and
positive impact(benefits) of each option from the
point of view of each affected party, taking into
consideration their particular interests and needs
Ranking the costs and the benefits of each option
and making a decision.
