Importance of Consumers:
“It is a consumer’s demand that leads to the purchase of a good or service which generates revenue for organisations. When consumers are absent from this equation, the success of an organisation is questionable.” (Philip Nguyen, 2017).
Relevant ethical issues:
- Consumer Protection
- Product Policy: Product safety, fitness for purpose
- Marketing Communication: Deception, misleading claims, intrusiveness
- Pricing: Excessive pricing, price fixing, predatory & deceptive pricing
- Distribution: Gift & bribes, slotting fees
- Marketing Strategy: Targeting vulnerable individuals, consumer exclusion
- Market Research: Privacy issues
- Excessive pricing: COVID-19 Drug at $2340!
- Misleading claims: what products were among those marketed with the most outrageous claims of all time?
- Novartis, Alcon Pay $347 Million to Settle Bribery Probes
- Rolls-Royce Bribery Scandal
- FIFA Corruption Scandal
- Volkswagen “Engineering a Deception”