Posted: February 26th, 2022

Research various codes of ethics in marketing research.

Place your order now for a similar assignment and have exceptional work written by our team of experts, At affordable rates

For This or a Similar Paper Click To Order Now

dq1
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?
dq2
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.
fredrick response
Conscious capitalism is a way of thinking that all corporations and society are a reflection of the extent that mankind has reached internationally at present. So the code of ethics is all about functioning ethically for the organizations such as how they should act and behave so they develop an ethical standing and culture. Conscious capitalism can support the code of ethics and vice versa in a number of ways such as Conscious ethical leadership that takes place throughout the industry. They can also help with the development of high purposes instead of simply focusing on the amount of profit and revenue that the company brings in such as social work. (Fyke, 2013)
Someone might prioritise ethics in services marketing because ethics helps businesses develop such things as empathy and social responsibility that they owe to certain communities. From this the customers will be able to have a deeper bond and connection with the business due to the ethical service they have received and it will help create a very positive reputation for the business which will please the stakeholders as this might just give them an edge of their competition within the market.
Fyke, J. P. (2013). The ethics of conscious capitalism: Wicked problems in leading change and changing leaders. Human Relations, 66(12), 1619-1643.
Robert response
Hello Everyone,
The codes of ethics in marketing research are very important for many businesses and employees because it gives them rules and regulations on how to sell products or idea. Also, a business or employee should not forcefully sell a product just by making their audience or market uncomfortable and can harm their reputation. According to our textbook called “A Framework for Marketing Management” by Philip Kolter and Kevin Lane Keller that says, “Most companies use multiple resources to study their industries, competitors, audiences, and channel strategies” (Kolter and Keller, Pg. 36). This type of research provides information and helps many businesses strategize on how to market their “new” product or attract a target audience. For example, before a sports agent is trying to attract or convince a professional athlete to sign with their agency, they research their clients and understanding their interests, so they can use it as a marketing tool for him or her. Then, the codes of ethics support conscious capitalism based on many businesses researching and understanding what type of activities, so they can “cater” to other businesses or consumers. The best way for a business or businessman to gain the “attraction” of their peers is by knowing what they are talking about and being respectful. A question that I would like to ask everyone is does marketing in a “friendly” way become a strength or weakness in the business world, such as working with other businesses? Finally, the codes of ethics benefit many businesses with their marketing research just by knowing their target audience’s interests and it respectfully supports conscious capitalism towards marketing the correct way.
Someone will prioritize ethics in services marketing based on knowing how to interact with other businesses or consumers. Also, nobody likes to be forced to look at a product or idea because it loses their interest. For example, many shoppers pass by the “shoe cleaner” guy at the mall because of his or her first words interacting with them, such as “let me see your shoe” instead of “can I please see your shoe”. A component in marketing is respected just by being grateful for another business or consumer giving your business an opportunity and not taking it for granted. Then, the purpose of service marketing is to give a consumer or business a great experience just by giving them a new product or an event they always wanted. Having a consumer or another business feel comfortable is helpful for a business because they know what to expect and not have any unaware surprises in the future because it will decrease their interests. Another question that I would like to ask everyone is does a consumer like a service with expectations or without expectations? Finally, someone will prioritize ethics in service marketing because it gives many businesses and consumers comfortability with the products or experiences that are given to them.
Have a blessed day!
Links:
Kenton, W. (2018, April 21). What is conscious capitalism? Investopedia. https://www.investopedia.com/terms/c/conscious-capitalism.asp.
Kotler, P., & Keller, K. L. (2009). A framework for marketing management (6th ed.). Pearson Prentice Hall.
Jessica response
Each consumer is in a different situation or a different time in their life which can make each of them vulnerable in different ways. When someone is vulnerable, they are susceptible to physical or emotional attack or harm (). Consumers can find themselves vulnerable when they are in need of special care, support, or protection because of age, disability, or risk of abuse or neglect (). Fair Trading Commission published an article titled Looking Out for the Vulnerable Consumer; in this article they have listed several characteristics that can cause the consumer to be vulnerable. A few of these characteristics are low income, language barriers, illness, intellectual abilities, and age (). All these characteristics which should require Government regulation with respect to selling. Unfortunately, businesses or at times just the sells person will seek out the vulnerable and take advantage of them them with the sale of their product or service.
“Brands promote a desire in consumers that allows a premium price to be commanded” (Roper et. al. 2007). This quote brings to mind many items that we see advertised specifically towards our children, teens and tweens. When we look at other vulnerable characteristics like the ill and they are told a product or medication will help or cure them those ill consumers will seek out the said product. Looking at a prescription for example, but if their insurance doesn’t cover it or they do not have insurance the cost is outrageous and the ill will never get the help or relief they need and deserve. There are so many companies, business owners, or anyone who may have some control over a vulnerable consumer being taken advantage of, who should have better Christian values, but unfortunately do not. Money speaks louder for many companies.
Stuart Roper , Binita Shah. (2007). Equal Opportunities International. Vulnerable consumers: the social impact of branding on children. ISSN: 0261-0159
Dictionary.com
Fair Trading Commission. (N.D). Looking out for the vulnerable consumer. Retrieved from:

For This or a Similar Paper Click To Order Now