Marketing ethics essay
Ethics in Marketing:
Marketing ethics is the study of right and wrong with respect to marketing policies, practices, and systems. Marketing ethics consist of principles and standards that guide appropriate conduct in organizations. The importance of ethics in marketing practices is a major consideration in whether markets achieve their promise relative to previous arrangements.
An ethical issue is an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical, while social responsibility is a business's obligation to maximize its positive impact and minimize its negative impact on society. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporations are being asked, encouraged and prodded to improve their business practices to emphasize legal and ethical behavior.
Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility. Social responsibility and business ethics are often regarding as the same concepts. However, social responsibility is but one aspect of the overall discipline of business ethics. Social responsibility arose particularly during the 1960s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in society and particularly in the natural environment.
Responses to Ethics by Coca-Cola:
1. Coca-Cola has faced environmental issues in the past. An example is the Peat's Ridge Aquifer incident, where it was claimed that Coca-Cola was pumping too much of the water out for selling. Coca-Cola promptly defended its actions to avoid the backlash of bad PR.
2. Coca-Cola relies heavily...