Ethical and Social Issues in Marketing
Order id #9383149410
|Type of paper:||Essay- College Essay|
|Topic:||Ethical and Social Issues in Marketing|
|Pages:||1 pages / 275 words|
|Type of service:||Essay|
|Format or citation style:||APA Deadline: 8hrs|
|Paper Instructions||Discussion 09: Ethical and Social Issues in Marketing|
Milton Hershey, who had a strong ethical value system, founded Hershey Foods in the nineteenth century — always show integrity, honesty, and respect,. Hershey felt it was important to provide high-quality goods and services of real value at competitive prices that provide an adequate return on investment. He founded the Milton Hershey School, operating today as a cost-free, private home and school dedicated to helping children with social needs and limited resources. The company also focuses on environmental issues, such as reducing waste by 360,000 pounds annually by redesigning Hershey’s Syrup caps. Hershey Foods has an ethics compliance program that includes a code of ethics and training, guidelines for handling legal and ethical issues, an 800 number for assistance with ethical issues, and support from supervisors and human resource managers in dealing with ethical issues.
Discuss how Hershey Foods has applied the principles of socially responsible marketing. Also address in your discussion the benefits of having a formal code of ethics and what impact philanthropic and social responsibility has on a company.
Being socially responsible in a business is when the organization is concerned about the society, environment, and people around the area it is conducted (Poon, 2012). Therefore, with the development and advancements of the business world, the issue of ethics and social responsibilities has been brought forward. Business ethics and social responsibilities include the awareness of human and labor rights, anticorruption activities, and the environmental protection at large. The development has also taken many routs in the world of business especially socially that is energy and climate conservations, sustainability, environmental, and the social plus corporate responsibilities (Poon, 2012). Therefore, the paper will discuss how Hershey food has applied the principles of socially responsible marketing in his business.
To begin with the pricing ethics, which include selling of products or the services at a reasonable price to drive away the competitors or even, create some barriers to the entry of other potential competitors. The pricing ethics as a principle of social marketing, therefore, is seen at Hershey foods providing high-quality goods and services for the competitive prices that provide an adequate return on the investment. Hershey has also been adding value to the society by helping children with social needs and with limited resources at a cost-free and private home program. Another principle is making a sustainable environment to the society. For instance, Hershey has been reducing the waste products by 360,000 pounds annually; this makes a sustainable environment to the neighboring society.
The formal code of ethics and social l responsibilities has some benefits for philanthropic and company (Poon, 2012). With the formal code of integrity, honesty, and respect which is practiced by the Hershey Company give it the win-win marketing which increases the customers’ value. With the code of helping the less vulnerable children in the society, the company gets the good and strong reputation in the society which is one of the greatest benefits that the company cannot afford to overlook.
Poon, P. (2012). Ethical and social issues in global marketing.