Why Are Ethical Behaviour and Government Regulations Important to Marketing Essay

Why are ethical behaviour and government regulations important to marketing?
Ethical behaviour is used within many businesses to ensure the business provides accurate information to customers as well as other businesses to engage in fair competition. It is important for a business to have ethical behaviour in relation to the marketing side of the business so that goods produced, promoted then sold do not provide misleading information. If identified by consumers, it can have a major impact on all functions of the business as it has the potential to ruin the business’s reputation placing the business at a declining stage of the business’s life cycle. In a similar manner government regulations are also important and must be overviewed by all functions of a business as there are set laws that all functions of a business must comply with. If a change occurs within any consumer legislations a business may need to implement and adapt to the change of consumer law to ensure continuance of the business. in relation to marketing government regulations plays an important role in ensuring businesses are not presenting deceptive and misleading advertising, price discrimination, implied conditions and false warranties. An example of unethical behaviour through marketing is when a company promotes there business with false and inaccurate advertising which can result in a bad reputation towards the business as well as a loss of market share. An example of lack of contribution towards ensuring the business has kept up to government regulations standards especially through the marketing function of a business can result in penalties imposed by the court as well as public warning notices being issued out by the Australian Competition and Consumer Commission which can result in the creation of bad reputation for a business.   Apple is a company that identifies how important ethical behaviour and government regulations are within the business as Apple has successfully acknowledged and...