MKT 100 Lecture Notes - Lecture 7: Categorical Imperative, Ethical Decision, Brand Equity

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Francescucci

Document Summary

Which is the more important corporate objective: making a profit or obtaining and keeping customers? o. Although firms cannot stay in business without earning a profit, using profit as the sole guiding light for corporate action can lead to short-term decisions that may in fact cause the firm to lose customers in the long run. For marketers, the firm"s ability to build and maintain consumer trust by conducting ethical transactions must be of paramount importance. Marketing ethics: refers to those ethical problems that are specific to the domain of marketing o. The sale of products or services that may damage the. Global issues, such as the use of sweatshops and child environment labour. Individual consumer issues, such as deceptive advertising and the marketing of dangerous products. As many marketing executives correctly believe, creating an ethical climate that establishes the health and well-being of consumers as the firm"s number- one priority just makes good business sense.