University:
High School
Course:
High School Business
Academic year:

2023
Views:

8

Pages:

1
Author:

anon

IB Business The Ethics of Marketing What are Marketing Ethics? ● Refers to the moral standards that a company must meet when developing its marketing strategies. ● Usually, there is an unspoken moral code of conduct. ● Unethical Marketing; when actions cause offense to the general public (e.g. the bait and switch marketing technique) and are concluded to be ○ Deceptive ○ Misleading ○ Morally incorrect or biased Unethical Marketing Techniques ● Bait and Switch; Marketing deals that are ‘too good to be true’. Usually ends up with customers having to have to switch to an alternative that costs more because the deal is suddenly ‘invalid’ ● Health fraud (i.e. ‘Lose weight immediately”) ● ‘Get rich quick’ schemes ● Travel fraud (i.e. ”sea-view rooms” and customers are then provided with low quality rooms without a view) ● Product misinterpretation (i.e. hiphone 5 vs iPhone 5) ● Exploitation of weaknesses (using fear tactics such as ‘limited stocks only’) ● Unsubstantiated claims (using invalid statistics [made-up]) ● Pester Power (Using children to pester their parents into purchasing) ● Confusion Marketing ( Swamping customers with excessive price information, usually used in phone subscription plans)