Ethics in Consumer Protection: Safeguarding Buyers and Ensuring Fair Practices
Consumer protection is crucial in safeguarding buyers against unfair market practices. Ethical marketing plays a significant role in ensuring that businesses act responsibly and honestly towards consumers. This involves promoting transparency, honesty, and building relationships based on shared values. The ethical marketing of goods and services not only focuses on satisfying customer needs but also addresses social and environmental causes. It involves evaluating decisions from both a business and moral perspective to ensure ethical practices are maintained.
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Presentation Transcript
Subject : Consumer Protection, Unit-4 Paper code: BBAN-604 Prepared By: Bharti Aggarwal (Assistant Professor, DAV Centenary College, Faridabad)
Ethics are standards of moral conduct. To act in an ethical fashion is to conform to an accepted standard of moral behavior. Dr. Philip science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Dr. Philip Kotler Kotler defines marketing marketing as the
Ethical marketing of marketing ethics into the marketing process. Marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing should be part of business ethics in the sense that marketing forms a significant part of any business model. Ethical marketing refers to the application
Ethical marketing which companies market services by focusing not only on how their products benefit customers, but also how they benefit socially responsible or environmental causes. To put this another way, ethical marketing philosophy. Ethical marketing refers to the process by market their goods and ethical marketing isn't a strategy; it's a
It includes everything from ensuring advertisements are honest and trustworthy, Building a strong relationships through a set of shared values. Companies with a focus on ethical marketing evaluate their decisions from a business perspective (i.e. whether a particular marketing initiative will deliver the desired return) as well as a moral perspective (i.e. whether a decision is right or morally sound). with consumers
Ethics in Consumer Protection
A consumer acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. Consumer protection safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace A consumer is defined as someone who Consumer protection is the practice of
Consumer protection measures are often established by law. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.
Market having fake labels for selling drugs, food stuffs, consumables like agarbatis, suparis etc. ... This result in disrepute for the products of good companies even though such fake goods are small in quantities. Market is flooded with duplicate goods
Consumer Service Fair Price To Charge Reasonable Margins Non Deceptive Practices: Marketers should avoid deceptive pricing, deceptive promotion, deceptive packaging Sale of safe products Realistic claims in advertisement
Standardized products Proper packaging Labeling Quality Control
Price stability Black Marketing tactic should be avoided Prices should not be too high
Truthful and Realistic claims in advertising Only safe products should be promoted There should not be high pressure selling Only environmental friendly products should be promoted.
Thank you For any query Contact : Ms. BhartiAggrwal (Assistant Professor, DAV Centenary College, Faridabad)
