In a business environment marked by fierce competition, companies are constantly tempted to resort to questionable tactics to increase sales. However, a crucial question arises: what is the place of ethics in marketing? Beyond simply offering quality products, a company’s true long-term success lies in practicing honest, consumer-friendly marketing. In this article, we’ll explain how ethics in marketing is not only a moral obligation, but also a smart strategy for building brand loyalty and maintaining consumer trust.
Principles of ethical marketing
Companies often do whatever it takes to sell their products. But what happens when they mislead consumers? Successful companies respond to genuine consumer needs, and while offering quality products is essential, effective and persuasive marketing is the key to success. In particular, ethical marketing, based on honesty and respect for customers, is crucial to building lasting brand loyalty. Although it may be tempting to lie to increase profits, in the long run, this practice generally causes more harm than good.
According to several studies, between 70% and 90% of consumers would boycott a brand if they discovered it was lying to them. In addition to losing consumer loyalty, companies that use deceptive advertising can also face legal problems. In the United States, misleading advertising and manipulative tactics can be reported to the government, which can result in penalties and liability for the companies involved.
Psychology in marketing: ethical persuasion vs. manipulation
Psychology is a common and sometimes controversial tool in marketing. It is used to make ads more understandable by segmenting the market and optimizing brand messages in order to sell more products than the competition. This, in itself, is not negative. However, there is debate about the difference between using psychology to persuade and using it to manipulate.
While persuasion seeks to influence consumer decisions in an ethical and transparent manner, manipulation involves the deceptive use of psychological techniques to induce unwanted behavior or make decisions that are against the consumer’s best interest. It is essential that brands understand this difference and opt for practices that promote an honest and trusting relationship with their customers.
Study with us
In this context, the Master in Strategic Management with a specialty in Telecommunications of our institution offers a unique opportunity to delve into the ethics of marketing and its application in the real world. This program is designed for those who seek not only to lead successfully in the telecommunications sector, but also to implement marketing strategies that respect and value the consumer. By studying this master’s degree, students will develop advanced skills in strategic management and gain a deep understanding of how marketing ethics can be a powerful tool for building and maintaining customer loyalty.
Comprehensive training in ethical and legal aspects of marketing will enable them to meet the challenges of today’s marketplace with integrity and responsibility, ensuring sustainable success and an impeccable reputation in their future careers. If you are committed to responsible leadership and want to make a positive difference in the telecommunications industry, we invite you to explore our master’s program and join us in building a more ethical and transparent future in marketing.
Sources:
Influencing the consumer’s mind: The thin red line between manipulation and ethical marketing
