TOPIC 1: ETHICS IN MARKETING

Ethics in marketing is an important and exciting topic to explore. In today's fast-paced and
competitive business world, it is crucial for companies to not only focus on their bottom line, but
also on the ethical implications of their marketing strategies. Businesses can establish enduring
relationships and gain the trust of their customers by upholding ethical standards. This is the
reason why the subject of marketing ethics is so fascinating. It gives businesses the chance to
accomplish their objectives and have a beneficial social impact at the same time.
One aspect of ethics in marketing that is particularly fascinating is the concept of transparency.
Consumers today are more informed and conscious about the products they buy and the
companies they support. They want to know that the brands they choose align with their own
values and beliefs. By being transparent in their marketing efforts, companies can effectively
communicate their mission, values, and practices to consumers. For example, Biti's is a well-
known footwear brand, considered a pride of Vietnamese consumers. Although they faced a
controversy for using Chinese brocade fabric in a collection, Biti’s promptly took responsibility,
publicly apologized, and admitted to using materials from China. This action demonstrates
transparency and responsibility towards customers and the community .This not only helps build
trust, but also allows consumers to make informed decisions about whether or not to engage with
a particular brand.
Another exciting aspect of ethics in marketing is the impact it can have on larger societal
issues. Many companies are now using their marketing platforms to advocate for social and
environmental causes. They are using their influence and resources to bring awareness to
important issues and drive positive change. This not only benefits society, but also helps
companies differentiate themselves from competitors and attract like-minded consumers. For
example, LOTTE Mart launched the "LOTTE Love Human" campaign, comprising various
green marketing activities aimed at changing Vietnamese consumers' perception of
environmental protection. This campaign was widely discussed on social media and helped
LOTTE Mart dominate the market in the realm of Corporate Social Responsibility (CSR)
activities focused on the environment
In conclusion, ethics in marketing is an electrifying topic that brings together business, values,
and societal impact. By embracing transparency and advocating for important causes, companies
can build trust with consumers and make a positive difference in the world.