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Corporate Reputation

Know more about how to have a Corporate Business such as Corporate Reputation

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Chinny Leir Sylvester
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8 views

Corporate Reputation

Know more about how to have a Corporate Business such as Corporate Reputation

Uploaded by

Chinny Leir Sylvester
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Republic of the Philippines

ABE International College of Business and Economics


Tacloban City

Written Report in Business Ethics with Social Responsibility

CAIMOY, MARIVIC P. Submitted to:


BS Accountancy Mr. Cristian Lotero
BEATO, KATHLEEN J. Instructor
BSBA
MTH 8:00 AM - 9:00 AM

._________

TOPIC
MARKETING ETHICS & CORPORATE REPUTATION

According to American Marketing Association, 2017


- Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
With this, we can breakdown the definition for marketing.
Key components:
1. Activity: Marketing involves ongoing efforts to promote, sell, and distribute
products or services.
2. Set of institutions: Marketing involves various organizations, departments,
and teams working together.
3. Processes: Marketing encompasses a series of steps, strategies, and tactics.
Marketing objectives:
1. Creating: Developing products, services, or ideas that meet customer needs.
2. Communicating: Informing and persuading target audiences about
offerings.
3. Delivering: Providing products or services to customers.
4. Exchanging: Trading products or services for value (e.g., money, loyalty).
Value for:
1. Customers: Meeting their needs, wants, and expectations.
2. Clients: Building relationships and delivering value to business clients.
3. Partners: Collaborating with suppliers, distributors, or other stakeholders.
4. Society at large: Contributing to the well-being of the community and
environment.
Ethics is based on well-founded standards of right and wrong that prescribe what
humans ought to do, usually in terms of rights, obligations, benefits to society,
fairness, or specific virtues.
- The way an organization responds to what is right or wrong reflects the
effectiveness in applying ethics to their business. Organizations that are
ethical consider the impact of their decisions on the individual involved and
communities they serve. This idea can be applied in understanding Marketing
Ethics.

Marketing Ethics are a set of moral principles that guide a company's promotional
activities. Organizations that establish and implement marketing ethics are typically
trying to respect the rights, desires and expectations of consumers.
Marketing ethics practices:
1. Honesty and transparency: Truthful representation of products, services,
and brand identity.
2. Respect for consumers: Protection of consumer privacy, autonomy, and
dignity.
3. Social responsibility: Consideration of the environmental, social, and
cultural impact of marketing activities.
Ethical Marketing should:

1. Align with Moral Principles. Conduct market activities in accordance with


moral values and principles.
2. Adhere to Societal Values. Ensure marketing practices reflect and respect
societal norms and values.
3. Compliance with Legal Standards. Following legal regulations and
standards governing marketing activities.
4. Promotion of Transparency. Provide clear and accurate information to
consumers about products and services.
5. Emphasis on Honesty. Avoid deceptive or misleading advertising and
marketing tactics.

Ethical issues in marketing refer to the moral dilemmas and conflicts that arise
when marketing practices contradict societal values, norms, and standards.
Common ethical issues in marketing are found in Consumer-related issues and
Promotion and communication issues.

Deception/Dishonesty
- refers to intentionally misleading or misrepresenting information, concealing
the truth, or engaging in fraudulent behavior to achieve a desired outcome or
gain an unfair advantage.
Cultural Insensitivity
- refers to insensitive or offensive advertising. Cultural insensitivity can lead to
harm to individuals and communities and damage to reputation and sales.
Targeting Vulnerable Groups
- refers to actions or policies that intentionally or unintentionally exploit, harm,
or disadvantage individuals or groups who are already vulnerable due to
various factors.
Forced Selling
- Practices such as constant and irritating telemarketing calls, sales disguised
as contests, usage of mailing lists including personal mail IDs, spam emails,
and other methods may raise ethical concerns.
CORPORATE REPUTATION - refers to how a corporation is viewed by all of its
stakeholders, including its employees, clients, shareholders, and the general public.
It is influenced by the company's activities, goods, and communications with
stakeholders.

CORPORATE IMAGE - This is how a company wants to be perceived. It's the desire
impression a company seeks to create in the minds of its stakeholders.

CORPORATE IDENTITY - This is who a company is. It is the company's core values,
mission, vision, and culture. It's the essence of the company.

Perspectives of Corporate Reputation


1. Managerial or Pragmatic Perspective - External orientation for creating
corporate image
2. Reflective Perspective - Focus on internal aspects of the company to build
corporate identity.

Types of Consumers
1. Political Consumers - individuals who use their purchasing power to
influence social and political change.
2. Ethical Consumers - individuals who makes conscious choices to
purchase products and services that align with ethical and sustainable
practices.

Types of Investors
1. Political Investors - They use their financial influence to shape a
company's political stance and actions.
2. Ethical Investors - Investors are recognizing that a company's long-term
success is not solely dependent on financial performance but also on its
ethical and social impact.

Attracting and Holding Good Employees - Employees pride in the workplace is


becoming an increasingly important indicator of effectiveness. The opposite is even
more true in those companies where the employers are not proud of their
employees, there is lack of trust, confidence, enthusiasm, and willingness to ones
best.

Value-Based Leadership - a leadership style that emphasizes the importance of


strong ethical principles and values in guiding decision making and behavior.

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