Although seeking of ethical marketing and social responsibility does not automatically translate into increased profit, it is still the responsibility of the company to ensure it is responsible for its actions and their impact on society.
Marketing ethics and social reason-ability should go together. It is the social responsibility to form policies which are acceptable ethically and which work not for maximizing the profits of the organization but which aims at the larger interest of all the stakeholders.
Ethics are our belief about what is right and wrong. Though these beliefs may differ from one individual to another or one company to another, ethics and business responsibility are an essential part of any company’s marketing department.
Marketing ethics can be described as formulating policies to form practices which are transparent, fair and trustworthy. It is establishing marketing policies for corporate sectors where actions show integrity and fairness to consumers and all other stakeholders.
Goals of Marketing Ethics
The goals of the marketing department are to target an audience, appeal to that audience, and get the audience to purchase that particular product or service. In doing this, a company must make sure that they are first abiding by all laws and regulations, but they should also struggle to be sure that they are acting ethically and honestly. One interpretation of morality may vary greatly among individuals, but it still exists.
How to be Ethical in Marketing
To be ethical in marketing attempts, businesses should make honest claims, and excel at satisfying the needs of their customers. This practice over time builds trust and customer confidence in your brand’s integrity and therefore leads to loyalty, customer and employee retention, greet public relations and increase in business from customers spreading the word.
Social Responsibility Definition
A relationship between the consumer and the organization is an agreement which is based on mutual trust, integrity, honesty, and fairness. For all practical purposes, the consumer is one of the most essential stakeholders in the organization. It is necessary that the companies work under moral codes which can prove to be the core building blocks in protecting the consumer-organization relationship.
How to be Socially Responsible
To be socially responsible is when the organization is considering people, society and environment with whom and where it conducts business. In it’s most basic form, socially responsible marketing is taking moral actions that stimulate a positive impact on all the company’s stakeholders, including employees, community, consumers, and shareholders.
The Responsibility of Marketers
The main responsibility of marketers in this aspect is to package and communicate the organization’s decisions that will impact the different communities with which they interact. Consumers have the right and power to decide which companies succeed or fail, so marketers have a major responsibility to ensure their practices are seen as philanthropic without being phoney.
Social responsibility in marketing involves focusing efforts on attracting consumers who want to make a positive difference with their purchases. Many companies have adopted social responsibility elements in their marketing strategies as a mean to help a community through beneficial services and products.