What is Ethical Marketing?
In layman terms, Ethics is a way of doing things correctly.
Ethics is a complicated topic as people have different opinions. People have different views on what is the right thing to do.
Let us understand what Ethics means to marketing.
Ethical Marketing deals with two things – Company and the Customers which means you need to make the profit and satisfy the customer at the same time. So you have to make the profit by providing the customer with the right thing.
Just like ethics are moral principles governing the human behavior, ethical marketing should serve as the guiding principle for all Types of Marketing strategies.
How to employ Ethical Marketing?
Each and Every company has the opportunity to involve itself in ethical marketing. There is no rocket science which you need to study to take on ethical marketing, you just need to be honest, trustworthy, fair and transparent.
To employ ethical marketing in any business you need to know the unethical ways of marketing. There are no such strict laws against unethical marketing, hence many companies take advantage of it. For example, the most common unethical marketing is Black Hat Marketing.
Let’s learn more about the kinds of unethical marketing.
Promoting the products which are banned in an indirect way. To give you an example Kingfisher is the best example which promotes its products through TV commercials.
Making the product more appealing than it really is or making false claims like “The network follows wherever you go”
When the Company focuses more on subjective rather than the Objective. As the word says, the products are puffed up from outside but do not meet the objective.
Assuring to deliver the result without any scientific reason and logic.
Advertising women as an explicit object. This portrays a negative image and promotes a sexist culture.
Making a false statement or spreading wrong information about a competitors product.
If we take care of the above unethical marketing technique and avoid using them we can surely build trust among the customers. Ethical Marketing is critical and takes time to build trust. Companies who lack ethics in marketing lose their credibility.