Marketing Project

Marketing Project –Part 4

Yona Weil

Principles of Marketing

Professor Aaron Nielsen

December 10, 2012

Marketing Project, Part 4

Historically, companies were able to sell products without considering any negative impact it may have on consumers. Marlboro was able to create the Marlboro man and freely produce an image of a smoker that we know today is not accurate. Accepted practices even allowed companies to conduct internal cost-benefit analysis when deciding what is worth doing for a customer and what is not worth the cost. One famous example of this type of cost-benefit analysis is the Ford-Pinto Case. In this case, it was proven that Ford chose to not pay $11/ car to prevent gas tanks from rupturing, because it would cost more than having to pay out death payments for people who would die as a result of the defect. (Hoffman, 1984) In today’s world, marketers are held to higher standards, standards that place a value on the customer above the product. Even the American Marketing Association embraces ethical norms and ethical values that are rules for marketers to adhere to. (American Marketing Association) The American Marketing Association calls upon marketers to maintain ethical norms and breaks these norms down into three sub-sections. The first ethical norm is, do no harm, which means that marketers must adhere to all laws to ensure that they do not cause harm with their actions or omissions. Secondly, marketers must foster trust in the marketing system, which means that marketers must act in good faith and fair dealing and avoid deception in product design, pricing, communication, and delivery of distribution. Thirdly, marketers must embrace ethical values, in their relationships with customers. Ethical values are broken down into core values that include; honesty, responsibility, fairness, respect, transparency and citizenship.   (American Marketing Association) In this world, where product liability is extremely important,...