how should ethics play a role in shaping marketing strategy

how should ethics play a role in shaping marketing strategy? Why?

Solution

Ideally, ethics should play a vital role in shaping the marketing strategy.

Marketing strategy is a strategy focused on marketing activities of a firm and aims at increasing sales of a product, enhancing its brand equity.

Ethics should be incorporated in a firm\'s marketing strategy. A firm using unethical practices to market its product is likely to lose its goodwill in the public. For example, Volkswagen had been following an aggressive marketing strategy in the last couple of years to become the number one automobile firm in the world. For this it used a software on its diesel vehicles to cheat on the emission tests. This is an unethical practice and the brand equity of VW cars has taken a big dent after the truth came in public domain.