Ethical Issues Affecting Each Component of the Marketing Mix

Ethical Issues Affecting Each Component of the Marketing Mix

Ethical issues in businesses among other related issues like conflicts or success revolves around relationships. In today’s business world, it has become inevitable to built strong and effectives between all the key players in businesses (Carroll et al 403). The board of directors in every business has the mandate of giving direction and oversight making sure that the business does not stray from its course and remains relevant in achieving its objectives in a socially acceptable, legally acceptable and ethical manner. In many instances of unethical business conduct, there exists a certain degree of compliancy and knowing corporation which acts to perpetuate the acceptance of such conduct. Importantly, most ethical issues come into existence due to conflicts in belief patterns and value conflicts regarding what is wrong or what is right. This occurs because ethical standards are a derivative of deeply-rooted personal believes and societal morals which may not be universally agreed upon.

The elements of the marketing mix are important aspects of the business which can be evaluated in the light of ethical issues. Marketing mix encompasses all the major areas of decision making affecting the marketing process and when carefully blended, desirable results for the organization are obtained. As marketing managers make decisions about the overall process of marketing, they have to consider the specific elements of the marketing mix which include price, promotion, product and place and in other instances they are supposed to consider the sub-elements in each element in order to satisfy the wants and needs of the customers.

Given the importance of the marketing mix and the fact that all important aspects of the business revolves around it, it becomes a rather sensitive area in ensuring that regardless of the ambitions of the business, the management does not go overboard to affect its relationships with the other stakeholders who have any form of interest in the business (Tittle 12). Ethical issues usually arise when some of these relationships are affected or the moral fiber as defined by law or the society in which this business exists is coarsened. This means that the business has a responsibility of providing the society with good made adhering to all ethical issues and also of high quality.

In looking closely at all the elements of the marketing mix and how ethical issues can affect them, it is important to point out that the essence of the businesses is not only to maximize profits but also to take care of consumers of the products, the employees and the environment. The product, which is one of the elements of the marketing mix, is a sensitive component with regard to ethical issues (Swarbrooke and Horner 30). The whole product life cycle is vulnerable to ethical issue right from the development to its elimination. Ethical