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Marketing Ethics: Ethics And Ethical Ethics Of Deceptive Advertising

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Introduction

In order to generate sales, marketers often promote aggressively and uniquely. Unfortunately, not all marketing advertisements are done ethically. Companies around the globe spend billions of dollars to promote new products or services and advertising is one of the key tools to communicate with consumers. However, some methods that marketers use to produce advertisements and to generate sales is deceptive and unethical. Ethical issues concern in marketing has always been noted in marketing practice. According to Baker and Hart (2008), ethics itself has a profound, varied and rich past. It emphasizes on questions of right and wrong or good and bad. In this essay, it addresses the issues about how marketers should evade deceptive advertising as well as unethical pricing. …show more content…

Ethical marketing will boost credibility, loyalty as well as trust. It builds customers as it prompts them to spread worthy words about the products or services (Martins, 2016). Unethical marketing practices can tarnish company’s reputations, lost business and dissatisfied customers. Besides that, pricing ethics truly relies on upon how an individual define ‘ethical’. It is tougher to identify pricing ethics as everyone’s perceptions varies. Deceptive pricing practices makes consumers think that the price they actually paying for is lower than its actual value (Siham, 2013).

One recent case about unethical pricing is Daraprim, a drug that was acquired by Turing Pharmaceuticals. Daraprim is commonly used to treat parasitic infection. Founder and chief executive of Turing pharmaceuticals, raised a life-saving drug price overnight from $13.50 a tablet to $750, simply because he felt that the newer versions of Daraprim are needed to develop and his company was the first to focus on the research for years and it was exceptionally expensive (Walters,

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