Summary
Contents
Marketing ethics is the systematic study of how moral standards are applied to marketing decisions, behaviors, and institutions. This guide to marketing ethics provides all the key terms and concepts in a short, easy-to-use format, with each entry written by a scholar from the field of business or marketing ethics. This essential companion can be used in a number of marketing courses and will be a valuable reference for practitioners.
Ethical Issues in Pricing
Ethical Issues in Pricing
Pricing, one of the four functions of marketing (along with product, place, and promotion), is a dynamic process by which buyers and sellers determine what, and how many, units of wealth should be exchanged for a needed product or service. Buyers and sellers have differing goals in this exchange process. Usually, buyers are interested in obtaining needed products and services at the lowest possible price, while sellers tend to concern themselves with maximizing their profits.
Price affects both the supply of, and the demand for, a particular item. Generally, higher prices encourage sellers to produce more of an item but discourage buyers from purchasing large quantities of the item. Contrariwise, low prices tend to whet buyer demand for an ...