COMMERCE 2MA3 Chapter Notes - Chapter 4: Price Fixing, Canadian Business, Green Marketing
22 Apr 2015
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Document Summary
Ethics: ethics are moral principles and values that govern the actions and decisions of an individual or group. These serve as guidelines on how to act correctly and justly when faced with dilemmas. Ethics deal with personal and moral principles and values. Laws are society"s values and standards that are enforceable in the courts. Ethical/legal framework in marketing (see the diagram on page 103): In general, what is illegal is also unethical. For example, deceptive advertising as it conflicts with the moral principles of honesty and fairness. For some, the distinction between ethics and laws can sometimes lead to the rationalization that if behaviour is within legal limits, then it is not ethical. For example, increase price if the customer really wants the product. Most surveyed students believe that unethical marketing behaviours/practices (such as price fixing, bribery, deceptive advertising, and unsafe products) have increased over the past few years.
