Ethics in Marketing - Indian Spirituality

By Rakesh, R. | Journal of Emerging Trends in Economics and Management Sciences, February 2012 | Go to article overview

Ethics in Marketing - Indian Spirituality


Rakesh, R., Journal of Emerging Trends in Economics and Management Sciences


Abstract

Ethics are a collection of principles of right conduct that shape the decisions people or organizations make. Many people assume that only actions that violate laws are considered unethical. While it is true that illegal activity is also unethical, a business activity can be unethical even though no laws are violated Practicing ethics in marketing means deliberately applying standards of fairness, or moral rights and wrongs, to marketing decision making, behavior, and practice in the organization. Marketing ethics is the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. Indian spirituality is all about showing respect to all living beings-animals trees, rocks and even water and lead a positive and healthy life. It is believed that the supreme Creator has put each one of us in this world for a purpose and that purpose is to be compassionate, caring and loving to one-another. The great Indian spiritual personalities and gurus have played an important role in spreading the message of love, care and the need for positive living all over the world. "In Karma-yoga no effort is ever lost, and there is no harm. Even a little practice of this discipline protects one from great fear [of birth and death]. " - Bhagavad Gita quotes. . "Man jeeth tho jag jeeth ". The top Manager has to win himself then alone can he win the world. The top manager has to have a balance within him. He has to combine his management skills with inner love and connectivity. This Paper focuses on the requirement of ethics in marketing and how the Indian spirituality can be considered as a model for global ethical marketing

Keywords: ethics, patanjali, Indian spirituality, pranayama, karma

INTRODUCTION

Ethics in marketing refers to the practice of marketing in bnsiness in an ethical and morally sound way. It means deliberately applying standards of fairness and portray the company to others. While the goal of any business is to be profitable, if a company has to use false advertisement, or deceptive or objectionable marketing tactics to achieve it, it's really not miming an effective marketing campaign. Sure, there may be short term gain to be had in doing something unethical, but the loss of tmst and respect in the marketplace, not to mention potential lawsuits, will eventually catch up to any business owner.

More importantly, a company that acts in an ethical maimer will reap long-term rewards for their actions. They will build loyal customers, enjoy word of mouth referrals, and will be building a positive image in their prospects' mind about their business. Many people assume that only actions that violate laws are considered unethical. While it is tme that illegal activity is also unethical, a business activity can be unethical even though no laws are violated. For instance, some consider it unethical for marketing companies to aggressively promote unhealthy foods to children though such promotional practices are generally not viewed as illegal. Many may ask "is there a place for ethics in marketing?" In discussing concerns that consnmers and advocacy gronps have with the apparent lack of concern for consumers' well being, we must address the challenges that marketers have to `self regulate' and become more socially responsible. This really is no different than what would be expected of each of us: an organized society it is the responsibility of all to behave ethically. One concern within the marketing industry is that if marketers do not change their ways, and become more socially responsible, they will become subject to more government controls. Service is really the art of offering a consumer more than just the product they are purchasing. Part of that offering is to provide consumers with the assurance that what you are marketing to them is based on ethically sound principles: Do organizations treat their customers with respect? Are they honest and forthright in their communications with consumers? …

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