MKT-229 Module 8 Blog
The American Marketing Association is committed to encouraging the highest standard of professional ethics and values (AMA, 2018). To anyone that is new to the industry, remember that it is very important to maintain a strong focus on ethics. Ethical and professional standards from the American Marketing Association that apply to any marketing campaign start with avoiding any type of harmful actions or omissions (AMA, 2018). It is important to keep in mind that all choices made adhere to any applicable laws and regulations, and maintain high standards in ethics. These ethical value best practices include honesty, fairness, respect, responsibility, transparency, and citizenship (AMA, 2018). By doing so, trust will be built in the marketplace. If these practices are not followed, and a minor misstep in ethics occurs, the credibility for a company can be ruined and it can take years to repair the damage once a company loses that trust from their customers.
Ethical best practices are vital to a long lasting relationship with customers. There should be no advertising that gives false hope, or empty promises. It is very important that every possible perception of a marketing campaign needs to be looked at in order to maintain the highest level of ethics. It is also very important to strive to be truthful in all situations at all times, offer products that do what is claimed that they do, stand behind the products, and honor all commitments. Potential concerns if these best practices are not followed is where the company could potentially see their customer base source the same products from someone else that the customer trusts. For example: if there were two car dealerships, and one was known for not standing behind the cars that they sold, you can be sure word of mouth of this will spread and the customers will go to the other ethical dealer that delivers on what they promise. This will ultimately lead the un-ethical dealer to end up out of business.
Ethics plays a big part in any business. Consumers put a lot of trust in any business when they decide to make a purchase, so it is that much more important to respect that trust by delivering on what is expected.
American Marketing Association (2018)