Ethical marketing is guided by principles of honesty, fairness, and responsibility rather than rules. It considers subjective judgments about right and wrong. The document outlines several principles of ethical marketing, including truth in communications, transparency about endorsements, and fair treatment of consumers. It also describes several types of unethical advertising such as surrogate advertising, exaggeration, puffery, unverified claims, and exploiting children. Marketing environmental analysis is defined as a strategic tool to identify internal and external factors affecting an organization by understanding PEST factors in the macro environment and micro factors like suppliers, customers, and competitors.