Research various codes of ethics in marketing research. Explain how the codes of ethics support conscious capitalism. Why might someone prioritize ethics in services marketing?
Define the characteristics of a vulnerable consumer. Considering ethics, should there be greater government regulation with respect to selling to vulnerable consumers? Within the context of a Christian worldview, why should businesses consider the methods of marketing to vulnerable consumers? Be sure to support your responses with evidence from the readings or additional references.
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Research is a large part of a successful marketing strategy.
Ethics, in a broad sense of the word, is difficult to define. Personal ethics tend to vary greatly from person to person, however, each industry has a generally accepted, if not published, code of ethics. Infusing ethics throughout your business matters because it reflects both the beliefs your organization holds and on you personally. Marketing research is such a ubiquitous function that it applies to the business, philanthropy, and academic worlds. For this reason, there are different codes of ethics for different types of marketing and research, such as social media marketing, marketing towards children, and public opinion polling.
Research is a large part of a successful marketing strategy. To market effectively, you should know your target audience, what they need or want, and the best means to reach potential clients. All of these require thoughtful, informed, and ethical research. Unfortunately, research is often manipulated or falsified because it holds so much power to influence. We’ve all seen the stories on the news of faux market research (Crystal Pepsi, New Coke, the Ford Edsel, etc.) Falsified research can result in product recalls, misleading claims for investors, and threats to the safety of users. These fears are why there are a variety of different ethical marketing research rules and practices in place. More specifically, marketing research is chock-full of ethical “dos” and “don’ts.”
