2. ETHICS
• The study of what is right and wrong in human behavior
• Beliefs about what is morally correct or acceptable
3. ETHICAL MARKETING
• A shared standard of truth in marketing communications
• A clear distinction between advertising and sensationalism
• Endorsements should be clear and transparent
• Consumers’ privacy should be maintained at all times
• Government standards and regulations must be adhered and
practiced by marketers.
4. There are 6 ethical values that marketers
are expected to uphold, and these are:
1.Honesty – Be forthright in dealings and offer value and
integrity.
2.Responsibility – Accept consequences of marketing practices
and serve the needs of customers of all types, while being good
stewards of the environment.
3.Fairness – Balance buyer needs and seller interest fairly, and
avoid manipulation in all forms while protecting the information
of the consumers.
4.Respect – Acknowledge basic human dignity of all the people
involved through efforts to communicate, understand and meet
needs and appreciate contributions of others.
5. 1.Transparency – Create a spirit of openness in the practice of
marketing through communication, constructive criticism, action,
and disclosure.
2.Citizenship – Fulfill all legal, economic, philanthropic and
societal responsibilities to all stakeholders as well as giveback
to the community and protect the ecological environment.
6. SOCIAL RESPONSIBILITY
• Social responsibility is an ethical theory in which individuals
are accountable for fulfilling their civic duty, and the
actions of an individual must benefit the whole of society.
•
• In this way, there must be a balance between economic growth
and the welfare of society and the environment.
7. Social Responsibility & Marketing
• People have become increasingly aware and concerned about social
responsibility when it comes to corporate governance and the
behavior of firms.
• Corporate social responsibility (CSR) also extends to responsible
marketing strategies.
• Examples include green branding, highlighting the inclusion of
recycled materials, or noting that a portion of profits will be donated
to charity.
• Small businesses can also profit from investing time or money in
endeavors that benefit their communities.
• Socially responsible practices can benefit the public perception of a
company.
8.
9. CSR & INDIA
• In 2014, Section 135 of the Companies Act made it mandatory for every
company with
A net worth of at least Rs 500 crore,
Turnover of Rs 1,000 crore or more, or
A minimum net profit of Rs 5 crore during the immediately preceding financial
year
to spend at least two per cent of the average net profits, made during the
three immediately preceding financial years, on CSR activities.
