Please see below for the student work reply: To complete this Collaboration: Continue to participate by engaging in a discussion with your colleagues, replying to posts. In your discussion: Consider the ethical challenges that are faced by marketers in making decisions about their product/pricing offerings, their channel strategies and their integrated marketing communication programmes. How does unethical behaviour impact consumer and partnership relationships, as well as the co-creation of value? Reflect on factors that should cause an organisation to follow ethical and socially responsible business practices in this highly interconnected world of 24/7 news and social media. Explain how each factor might influence an organisation to act responsibly. Do you feel that there is a bottom-line case to be built for organisations embracing corporate social responsibility (CSR) or that their primary concern should be for achieving objectives for profit, growth etc without regard to the social consequences? Justify your position with evidence from the readings and/or independent research. Charissa Top of Form Today marketers are faces with many ethical challenges and based on their decision they can impact the relationship with their customers, employees, shareholders and suppliers. For example: Coca-Cola had been honest and treated consumers and other local water suppliers in a more ethical and transparent way, they may well have been able to survive the tainted water incident. Instead they already lost the trust and respect of the local community and their consumers, so they had no brand loyalty or trust to leverage for future relationships. Their behaviour was made very public and it damaged their reputation in the UK market. Ethics must be applied in all aspects of the business. From how business is done with the consumer, the suppliers, the employees. It should be transparent and clear across the board. ‘In that way partnerships and long term loyalty will be created’ (Knaus, 2010) based on integrity and trust. Unfortunately there can be “pushback from executives’ who would choose higher profits over ethics,” (Knaus, 2010) however this is a short sighted approach. In the article by Sheth, J.N. & Sisodia, R.S. (2005) they point out that marketing has lost respect inside of corporations and lost the trust of consumers. The challenges that lead to this I believe are largely due to executives who demand profit or quarterly growth, or speed to market requirements without taking into consideration the wider impact on society. If your customers don’t trust you, they won’t remain your customers, let alone co create value with you! What would cause an organisation to follow ethical and social business practices in an era of social media? Consumers today are more aware and more discerning than ever before. In an era of technology/social media and globalization, the abililty for consumers to research, understand and talk about products/services is far greater than ever before giving the consumer far more power and placing pressure on companies to behave in the best interests of the wider community. In an article in Forbes the CEO of Clorox believes that “companies without an embedded foundation of principles and values will not survive”(Knaus, 2010) With the help of social media, negative word spreads so much faster than in earlier times. Is there a strong case for Organsiations to follow CSR? In spite of pressures to achieve profits and objectives there is a very strong case for organisations to embrace corporate responsibility initiatives. CSR initiatives have long term impacts and they can be positive if implemented effectively. Consumers are more likely to give their business to companies that reflect their values thereby differentiating you from your competitors Customers are more likely to remain loyal to companies who are reflecting their values It can help build trust relationships with many stakeholders; customers, employees and suppliers. “encourages customer engagement and employee engagement” which is essential in co creation of value.”(Epstein-Reeves, 2012) and it stimulates positive word of mouth. Conserving can bring savings – ‘less packaging and less power’ “ Can improve the image of your brand/company Banks/Angel investors would more likely finance companies with strong CSR initiatives and values. Leads to innovation. “Unilever was able to innovate new products such as a hair conditioner that uses less water”(Epstein-Reeves,2012) In conclusion the role of ethics and CSR is very important in ensuring long term sustainability of organisations. References Internal The Money Programme, (2004) ‘Coke’s water bomb: the Dasani fiasco’, [Video], BBC, London. (Accessed: 03 September 2014) Sheth, J.N. & Sisodia, R.S. (2005) ‘A dangerous divergence: marketing and society’, Journal of Public Policy and Marketing, 24 (1), pp. 160-162 External Knaus, D(2010). The Role Of Business Ethics In Relationships With Customers. ‘Forbes’ [online] Accessed from https://www.forbes.com/2010/01/19/knauss-clorox-ethics-leadership-citizenship-ethics.html (Accessed on the 15 July 2017) Epstein-Reeves(2012) Six Reasons Companies Should Embrace CSR. ’Forbes’ [online] Accessed from https://www.forbes.com/sites/csr/2012/02/21/six-reasons-companies-should-embrace-csr/#3dcbc86d3495 (Accessed on the 15 July 2017)

    Dear Charissa?

    You breed an sensational topic coercion the nature of the divisions of ethics and restraintm’s embody of Oppidan Social Responsibility (CSR) in its operations. The discourse you confer-upon acquires more impressiveness with the anatomy of the Coca Cola occurrence con-over in the UK coercion the division of packaged steep versus destroying its quality (The Money Programme, 2004). I meet with you that the CSR is of discriminating concern to an restraintm, specially in its long-term epochnda. All restraintms and oppidan ought to embody the guidelines of the CRS and inoppidan incorporeal practices in appoint to set-up a compact cause with the consumers.  

    Also, an restraintm that is referable crystalline ample risks creating immaterial beliefs that the consumer canreferable hope upon in set-uping fidelity to the restraintm’s emanation. Hence, this distorts any luck of constructing a accordant analogy between the consumer and the restraintm making marketing plain harder.

    In the epoch of technology, it is abundant easier to imagine awareness concerning a aggregation you inquire purchasing emanations (Reeves, 2012). As well-behaved, the aggression of technology and globalization induces the risks a aggregation faces in single portion entity replicated worldwide if referable handled carefully. Thus, usurpation upon restraintm’s truthfulness and division of the CRS.

    Conclusively, the role of ethics and CRS is delicate to set-uping a stanch workforce that spurs the restraintm’s goals and objectives (Knaus, 2010). Also, in the identical mete, the consumers atattend to set-up duty towards the aggregation’s emanations. In reverse, it culminates into marketing fidelity that plays a indicative role in creating a stanch stigma coercion competitive advenient.

    References

    Internal Sources

    The Money Programme, (2004) ‘Coke’s steep bomb: the Dasani fiasco’, [Video], BBC, London. (Accessed: 03 September 2014).

    External Sources

    Knaus, D. (2010). The Role Of Business Ethics In Analogys WithCustomers. ‘Forbes’ [online] Accessed from https://www.forbes.com/2010/01/19/knauss-clorox-ethics-leadership-citizenship-ethics.html (Accessed on the 15 July 2017).

    Reeves, E. (2012). Six Reasons Companies Should Embody CSR. ’Forbes’ [online] Accessed from https://www.forbes.com/sites/csr/2012/02/21/six-reasons-companies-should-embrace-csr/#3dcbc86d3495 (Accessed on the 15 July 2017).