Ethical Marketing: What is it based on and how does it work?

Ethical Marketing

Ethical marketing defines a set of moral standards that are accepted by society and governing the various activities and processes carried out at the enterprise level. We show you how it works.

Why should you use ethical marketing in your company?

Marketing and ethics are two elements that have spent years in constant debate, and that is mainly due to the different approaches that the company decided to give his strategy, which go beyond the ethical praxis.

Ethics requires companies to express their values ​​to everyone around them; And this topic does not cover only large corporations, as small and family businesses are also involved in this philosophy.

Sometimes the lack of leadership causes differences of opinion about what is right or wrong, so in the following paragraphs I will clear up the doubt about business and its relationship with ethics:

What is ethical marketing?

Many define ethical marketing as a strategy, however, it is more of a philosophy of life that must be related to the values ​​that the company preaches.

Ethical marketing is about making morally correct decisions, that is, taking into account not only the return on investment, but also the moral perspective, which is related to the changing demands of consumers.

Benefits of ethical marketing

In principle, if the strategy is carried out in the best way and respecting the values ​​by which the company is governed, the prestige of the company and the improvement in reputation would be the two key factors that would stand out.

And by the way, it would also add value to the product, since honest practices will always benefit the business, since long-term relationships with customers will be established.

The quality of the staff, the cohesion of the team and their commitment to the company would also benefit, since they will not focus their attention on carrying out bad practices, but on the contrary, for the benefit of the company and competitiveness, thus facilitating a connection. between consumers and the brand.

What are the values ​​of ethical marketing?

Compliance with each of the values ​​that I will expose below will help define the marketing action:

  • Honesty. The veracity and transparency between relationships with customers and employees.
  • Responsibility. Assume the consequences of the strategies and decisions made.
  • Equity. The search for the balance between the needs of the buyer and the interests of the seller.
  • I respect. To the clients and workers of the company according to the strategy developed.
  • Transparency. Provide accurate information about the operations to be carried out.

How do you define what is ethically correct?

Ethical marketing brings many benefits to any business strategy, but defining what is “right” and what is “wrong” is difficult.

Ethics are perceived subjectively and, although marketing has evolved over the years, the picture is still not clear, since following a code to avoid bad practices is not enough.

Complying with the law is not enough either, since it is important for brands to be passionate about the consumer, being necessary to delve into the concept of ethical marketing and be guided by the values ​​of honesty, fairness and responsibility, as these are elements that should be part of the philosophy. of the company since its inception.

How to create an ethical marketing plan?

Regardless of where your business is located, it is necessary to define an ethical marketing plan in which the values ​​of your company are shown, and for this, it is necessary that you follow the following points:

1. Define ethical values

When we change the values ​​of the company, it is also important to focus on the mission and vision, as they are elements to which time and effort must be dedicated. Even if the details to be modified are small, in the long term they can make a difference and significantly change the ethical value of the company.

2. Create a business ethics document

It is important to know what the main ethical values ​​of the company are since through them you will be able to develop the objectives and goals you want to achieve.

It is also necessary to include in the formula the estimation time in which it will be developed, as well as those involved in the process, as it will help you have a much broader vision of what you want to achieve.

3. Develop strategies to spread the values

It can be done through messages in the different marketing campaigns that are developed, always remembering honesty and transparency.

The communication of the values ​​begins within the company, then it would come to share them with the rest of the followers.

4. Analyze the results

As in any other marketing strategy, measuring the results is important, as it will help you to keep track of all the actions and objectives previously established.

It is important to note that it is advisable to review and improve the ethical strategies implemented since new needs or trends arise that should be taken into consideration.

The reason for ethical marketing

The Internet is the main reason that ethical marketing exists since it has opened the doors to all the information that exists in the world.

Accessing the Internet gives the possibility of knowing more so that every day there are people demanding new things, especially in the sales area, resulting in ethical marketing becoming a trend.

The problem of ethical marketing does not start from general principles, but from the philosophy of the companies and those who make it up. What you can do to benefit your business is to improve the society around you through the available means of communication.