Marketing
My Advice for Anyone New Coming into the World of Marketing
Marketing in this digital world is so broad and there are a vast amount of options. No matter what you're are selling and promoting, whether it is a product or service, keeping up with the American Marketing Association's (AMA) Code of Conduct is best to ensure the highest quality possible. Using this Code of Conduct as a guideline for maintaining the highest standards in your marketing initiatives will enable your company to grow authentically, honestly, and gain the trust from your customers. It also protects you from potential problems and lawsuits.
For your Integrated Marketing Campaign (IMC), these 3 ethical best practices are very useful and works in your company's advantage.
1. Do no harm.
This means consciously avoiding harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.
2. Foster trust in the marketing system.
This means striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution.
3. Embrace ethical values.
This means building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency and citizenship.
The best way to do this is to implement and execute; Honesty, Responsibility, Fairness, Respect, Transparency, and Citizenship.
Honesty
Be as honest as possible and only offer products and services that offer value and do not make false promises. Be honest in the claims that you make about the benefits and features of what your product or service and honor your commitment to your customers.
Responsibility
Be responsible in your commitment to serving the needs of your customers and avoid using force with your stakeholders. Ensure that the responsibility is shared throughout the company and stakeholders as it comes with the territory of increased marketing and economic power. Be aware and recognize the different types of customers to whom you are marketing to that may have special needs and commitments such as children, seniors, and those who are not very familiar with marketing that may be disadvantaged. Be responsible for the use and protection of our environment when making decisions.
Fairness
Be fair when representing all products and services in all forms of communication; must be consistent and have no false, misleading, or deceptive promotions. Do not use any kind of manipulations that could harm and lose customers' trust. Do not use or engage in any activities of price-fixing, pricing manipulations, or “bait-and-switch” tactics. Try to avoid any conflicts of interest. Make it a priority to protect the private information of employees and partners in the company and all customers.
Respect
Respect all people regardless of their demographics such as gender, race, religion, sexual orientation, etc., and avoid any stereotyping of customers. Be an active listener to the needs of your customers and make a strong commitment to always improve to keep them happy and satisfied. Treat all people with respect within the company and those that come in contact with the company such as vendors, buyers, and supplies. Make an active effort to celebrate and acknowledge all the efforts of people within your company and treat everyone with respect (even if they are your competitor).
Transparency
Strive to be open and transparent with everyone within the company and be able to accept criticism from customers and stakeholders. Understand and accept the fact that there will be certain risks and other events that could affect the company, the customers, and their perception of their buying decisions. Be transparent in disclosing the pricing, promotions, and price adjustments.
Citizenship
Protecting the environment and being transparent about your sustainability efforts in your marketing campaigns. Give back when you can and help in your communities and charities through volunteering and charitable donations. Be a leader in your marketing efforts throughout the company and ensure that fair trade is implemented and executed for all parties, especially when dealing with international countries.
Some Ethical Concerns Regarding Advertising include:
Advertisements cause people to buy more than they can afford.
Advertising overemphasizes materialism.
Advertising increases the costs of goods and services.
Advertising perpetuates stereotyping of males, females, and minority groups.
Advertisements often make unsafe products, such as alcohol and tobacco, seem attractive.
Advertisements often are offensive.
Advertising to children is unethical. (Clow, K. E., & Baack, D. E., 2017)
Your business can be reported to the Council of Better Business Bureaus: the National Advertising Division, the National Advertising Review Board, and the Children’s Advertising Review Unit.
Some potential concerns that could occur if these best practices are not followed would be punishments and fines depending on legal system laws, theocratic laws (based on religious laws and teachings), and moral reasoning.
Without strong business ethics implemented and followed within your company, it can be very dangerous and unorganized. It not only creates problems for your company and customers, but it also promotes low morale, bad productivity, and no sense of fulfillment and unity as a company.
References:
AMA Online Portal. (2021, October 11). American Marketing Association. https://myama.force.com/s/article/AMA-Statement-of-Ethics
Clow, K. E., & Baack, D. E. (2017). Integrated Advertising, Promotion, and Marketing Communications (8th Edition). Pearson Education (US). https://mbsdirect.vitalsource.com/books/9780134485027
