Marketing ethics Essay Example | Topics and Well Written Essays - 3000 words

Marketing ethics - Essay Example However, in contemporary competitive market, the task of aligning is excessively challenging (Appelbaum, et al., 2009). In this particular study, the researcher will primarily focus on ethics of marketing, which addresses certain standards and principles associated with suitable conduct in the market (Ferrell, n.d.). According to the author, marketing is an activity usually conducted by an organization to promote a particular product or service and unethical practices arise out of pressure to achieve performance objectives. Misleading sales approach, overbilling customers, price fixing and fraud antitrust are all categorized as unethical marketing practices. Although such practices may fetch short-term benefits for the company; in the long run, these have devastating impacts. Such impacts may deteriorate financial performance of a company or tarnish its reputation to such an extent that downfall of the company becomes inevitable. This is precisely the reason why conducting ethical marketing is so important. Organizations that efficiently manage ethics are able to methodically absorb, respond and adap t to most breakdowns in decisions or conduct. In the contemporary consumer oriented society, human rights play a crucial role. Given the aforesaid fact, greater number of companies has been exposed to several positive as well as negative ethical issues of which count of the latter is increasing day by day. This has been largely possible due to rising power of media and the way this system is structured. Consequently, the system has a considerable impact on organizations that are involved in such means. In light of the aforementioned facts, this study will take a look at GlaxoSmithKline, which is a UK based pharmaceutical company and assess few of the ethical marketing challenges faced by the company, thereby seeking evidences as to why these