Codes of Ethics in Marketing Research

Subject: Business Ethics
Pages: 1
Words: 375
Reading time:
2 min
Study level: Master

The code of ethics is an essential concept in marketing that ensures that businesses maintain a certain standard of quality of products and services. An ethical culture plays a vital role in enhancing a high degree of honesty, professionalism, fairness, and confidentiality in business transactions. Promoting positive interaction with consumers is crucial for the success of an organization because it preserves its image. In this view, firms must create a code of ethics and train employees to exercise ethical business practices.

In only 3 hours we’ll deliver a custom Codes of Ethics in Marketing Research essay written 100% from scratch Get help

How Codes of Ethics Support Conscious Capitalism

Conscious capitalism is a concept in marketing where managers intentionally align customer needs with the organization’s business objectives to their advantage. Business leaders are required to balance consumer claims as much as they can (Anderson, 2015). Codes of ethics encourage affection through the creation of a conscious culture based on the values and reactions of consumers. Besides, leaders purposefully hinge successfulness on the creation of long-term relationships with clients for the benefit of the organization. According to Anderson (2015), most organizations talk about doing their best rather than winning, which is their primary objective. Codes of ethics also support conscious capitalism through inspirational leadership. Through this approach, a manager provides guidelines to accomplish tasks by articulating a shared mission of the organization. Finally, codes of ethics require businesses to address the needs of their customers by delivering products and services that meet their expectations. By doing so, conscious capitalism is realized because companies end up enticing more customers, boosting their sales and profits.

Prioritizing Ethics in Services Marketing

Ethics might be prioritized in the marketing of services because the way a customer is treated determines the future of a business. Organizations should value and make their clients feel important, as this approach will enhance their public standing (Kotler & Keller, 2016). Achieving this goal requires a business to adhere to a well-defined marketing code of ethics that inspires integrity and accounts for the customers’ well-being. However, increased competition compels marketers to buy the loyalty of customers by remaining honest, transparent, and reliable.

In conclusion, codes of ethics are an essential part of marketing research in providing the best experience for stakeholders. Businesses should strike a balance between codes of ethics and conscious capitalism to achieve seamless success.

References

Anderson, R.M. (2015). The 4 principles of ‘conscious capitalism’ entrepreneur. Entrepreneur. Web.

Kotler, P., & Keller, K. L. (2016). A framework for marketing management (6th ed.). Pearson.