American Marketing Association Code of Ethics

According to the Ethical Norms: As Marketers, We must do three things… What are they:
1) Do No Harm
2) Foster trust in the marketing system
3) Embrace ethical value
According to the Ethical Norms of Marketing: What do we mean by ” we must Do No Harm”
This means consciously avoiding harmful actions or ommisions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.
According to the Ethical Norms of Marketing: What do we mean by “Fostering trust in our marketing system”
This means striving for good faith and fair dealings so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design,pricing,communication, and delivery of distribution.
According to the Ethical Norms of Marketing: Wat do we mean by “Embracing Ethical Values”
This means building relationships and enhancing consumer confidence in the integrity of marketing by affirming the six core values of marketing.
What are the six core Ethical Values in the AMA Code of Ethics?
1)Honesty
2)Responsibility
3)Fairness
4)Respect
5)Openness
6)Citizenship
What is The Definition of Honesty In Marketing?
To be forthright in dealings with customers and stakeholders.
What is the Definition of Responsibility in Marketing?
To accept the consequences of our marketing decisions and strategies.
What is the Definition of Fairness in Marketing?
To balence justly the needs of the buyer with the intrests of the seller.
What is the Definition of Respect in Marketing?
To acknowledge the basic human dignity of all stakeholders,
What is the Definition of Openness in Marketing?
To create a sense of transparency in our marketing operations.
What is the Definition of Citizenship in Marketing?
To fulfill the economic, legal, philanthropic, and societal responsibilities that serve stakeholders.
What four things must we do to ensure HONESTY in our Marketing?
1) Strive to be truthful in all situations and at all times.
2)Offer products of value that do what we claim in our communications.
3)Stand behind our products if they fail to deliver their claimed benefits.
4)Honor our explicit and implicit commitments and promises.
What five things must we do to ensure RESPONSIBILITY in our Marketing?
1)Strive to serve the needs of customers.
2)Avoid using coercion with all stakeholders.
3)Acknowledge the social obligations to stakeholders that come with increased marketing and economic power.
4)Recognize our special commitments to vulnerable market segments such as children,seniors, the economicly impoverished,market illiterates, and others who may be substaintially disadvantaged.
5)Consider enviromental stewardship in our decision-making.
What three things must we do to ensure FAIRNESS in our Marketing?
1)Represent products in a clear way in selling ,advertising, and other forms of communication; this includes the avoidance of false,misleading and deceptive promotion.
2)Reject manipulations and sales tactics that harm customer trust by refusing to engage in price fixing,predatory pricing,price gouging, or bait and switch tactics.
3)Avoid knowingly participating in conflicts of intrest; and protect the private information of your customers, employees, and partners.
What four things must we do to ensure RESPECT in our Marketing?
1)Value individual differences and avoid stereotyping customers or depicting demographic groups in a negative or dehumanizing way.
2)Listening to the needs of customers and make all reasonable efforts to monitor and improve their satisfaction on an ongiong basis.
3)Make every effort to understand and respectfully treat buyers,suppliers,intermediaries and distributors from all cultures.
4)Acknowledge the contributuions of others, such as consultants,employees, and coworkers, to your marketing endeavors.
What four things must we do to ensure OPENNESS in our Marketing?
1)Strive to communicate clearly with all constituencies.
2)Accept constructive criticism from customers and other stakeholders.
3)Explain and take appropriate action regarding significant product or service risks,component substitutions or other forseeable eventualities that could affect customers or their preception of the purchase decision.
4)Disclose list prices and terms of financing as well as available price deals and adjustments.
What three things must we do to ensure CITIZENSHIP in our Marketing?
1)Strive to protect the ecological enviroment in the execution of marketing campaigns.
2)Give back to the community through volunteerism and charitable donations.
3)Urge supply chain memebers to ensure that trade is fair for all participants, including producers in developing countries.