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Learning Objective: Describe the role of ethics in the business environment.
Did you know marketing was more than just advertising? Now that you watched the video, what role does marketing play in the success of the organization? Can marketing influence consumers’ decisions? If so, is marketing ethical?
STUDENT 2: BEN
Let me first start by stating what ethics is. Ethics is basically our morals or values that help control our behavior and help us make decisions. The role it plays in business (or should play) is that it’s almost like a guide to how the business should work. That could mean how professional someone acts and deciding between the right or wrong choice and picking the right one. Business ethics is very important and in my opinion is the foundation on which the business stands.
Marketing is very important for a lot of businesses because otherwise they wont get the word out about the business. As the video stated word of mouth doesn’t always work anymore with our economy, so almost all businesses need to market their products to get customers. So in my opinion marketing plays a huge role in businesses and can sometimes be what makes or breaks a business.
Customers are definitely influenced by marketing tactics, sometimes without realizing it at all. For example food and snack companies know customers are more receptive to their products when they’re hungry, so they schedule their advertisements for later in the afternoon. You know, snack time! Another marketing tactic is called social marketing, where they get ideas to customers rather than trying to sell them something. This allows the customer to think it was his or her idea to purchase the good or service. I think marketing can be ethical and unethical depending on the strategy and whats said. It all depends on the company and what they say. If they are honest about their product and what it does, then yes I think that is completely ethical. Companies have to market if they didn’t no one would know about them. However, if they lie and say the product does something it can’t or is simply better than it is, I don’t find that ethical. All companies and marketing can be ethical if they choose to be.
Perner, Lars. Ph.D. (2017). “Consumer Behavior: The Psychology of Marketing”. https://www.consumerpsychology.com