Sense and Sophiability

Ethics, or what is considered the “right” thing to do, is essential in all facets of life – including marketing. The American Marketing Association sets the ethical standards within the marketing industry, and each practice is integral to a successful integrated marketing campaign.

The first value is honesty. For marketers, that means presenting a truthful campaign for the product, not making any untruthful claims or promises regarding the company or product. The next value is responsibility. Responsibility is the commitment to accept the “consequences of our marketing decisions and strategies” (AMA Statement, 2021). Fairness is the third value, meaning we balance our own needs as marketers and businesses with the benefits of our consumers. An example of fairness is the avoidance of price-gouging, which would be unfair to the customer and destroy trust between company and consumer. The fourth value is respect. We must “acknowledge the basic human dignity of all stakeholders” (AMA Statement, 2021). Stakeholders are any person or entity with a vested interest in the business, from the community to the investors to the consumers. We must, as marketers, make a conscious effort to treat others the way we want to be treated. The golden rule extends to every part of life, even business. The fifth value of transparency is critical to fostering trust between companies and stakeholders. An example of transparency is the consistent publication of income statements, efficiency reports, and open email inboxes for constructive criticism. The final value is citizenship. The AMA defines citizenship as the ability to “fulfill the economic, legal, philanthropic and societal responsibilities that serve stakeholders” (AMA Statement, 2021). To ensure citizenship is upheld, companies should give back to their communities through volunteerism, donations, and overall protection of the community’s wellbeing.

Failure to comply with the AMA’s standards could result in admonishment, censure, temporary suspension of membership, or termination of membership. The AMA is not the only vital entity to act by. State and federal government regulations are significant to follow to foster trust between companies and both the government and consumers and to avoid unnecessary fines. Federally, we need to make sure that we have solid proof for any claims, sponsorship disclosure statements for any partnerships with influencers, and be generally truthful in our advertising practices (Advertising and Marketing, 2022). To adhere to the California Consumer Privacy Act, marketers must provide our customers with the option to opt-out of the sale of their personal information, the ability to see what information we collect about them (and the ability to delete said information), and respect their right to non-discrimination for exercising these rights (California Consumer, 2022). Without following these guidelines set out by the government, lawsuits, fines, and even jail time could be the downfall of your company and your career as a marketer.

These guidelines are not just suggestions as you begin your career in the marketing world. These are steadfast rules that you must consider in every decision you make as a marketer, not only for the good of yourself or your company but for the consumer. The most important thing to keep in mind is the “right” thing to do, even if the “wrong” thing might make you the most money in the short term. A company built on unethical practices is built on unsteady ground and will inevitably come crashing down à la Enron or Theranos. Familiarize yourself with these ethical standards, refresh your memory regularly, and become a successful marketer in any industry.

References

Advertising and Marketing. Federal Trade Commission. (2022, February 11). Retrieved April 7, 2022, from https://www.ftc.gov/business-guidance/advertising-marketing.

AMA Statement of Ethics. AMA Online Portal. (2021, October 11). Retrieved April 7, 2022, from https://myama.force.com/s/article/AMA-Statement-of-Ethics.

California Consumer Privacy Act (CCPA). State of California – Department of Justice – Office of the Attorney General. (2022, March 28). Retrieved April 7, 2022, from https://oag.ca.gov/privacy/ccpa.