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Marketing Law and Ethics
Assignment One - Ethics
Being ethical as a marketer has its advantages as well as its disadvantages. The 'negative' advantages are obvious, all of which point to personal and business gain. However, to say that one must act unlawfully to be unethical would be false. The provided statement is completely factual and is particularly relevant to marketing and, more accurately, business, in the fact that "ethics are not, by definition, counterproductive to profit, but may be beneficial to profit."
Hypothetically, a marketer would need to accept the above statement as 'bible' in reference to the marketing mix, or rather simply, 'the four P's (price, product, promotion and placement). The simplistic fundamentals of marketing and business, the marketing mix is essential to the success of a business and their respective products, so it is appropriate that it also be applied to another quintessential factor of business in ethics.
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