PROFESSIONAL ETHICS IN MARKETING AND MODERN BUSINESS ETIQUETTE AS A GUARANTEE OF THE ECONOMIC SECURITY OF THE ENTERPRISE

Keywords: professional ethics, business etiquette, marketing ethics, economic security, corporate responsibility

Abstract

The article is dedicated to the analysis of ethical aspects in marketing activities and their impact on consumer trust, the development of market relations, and corporate social responsibility (CSR). Special attention is given to the principles of ethical marketing, including honesty, responsibility, sustainability, fair competition, good relationships with partners, and corporate social responsibility. The article emphasizes that ethical marketing is an effective tool for building long-term relationships with consumers and partners, ensuring ecological balance, and shaping a positive brand image. The article summarizes the key aspects of ethical marketing, highlighting its role in ensuring sustainable business development and social harmony. It analyzes the role of ethical principles in modern marketing and CSR as critical factors in establishing long-term relationships between companies and consumers. It is noted that ethical advertising, based on responsible practices, honesty, and transparency, contributes to achieving strategic brand goals, such as maintaining consumer trust and building a positive company image. However, the article also highlights the risks associated with unethical practices, such as information manipulation, greenwashing, and unfair marketing methods, which can lead to the loss of consumer trust and reputational risks for the brand. The article proposes a model of professional ethics violations, outlining its stages, risks, and preventive measures to mitigate crises. It highlights the role of an ethical system as a key tool for managing reputational and strategic risks. Reputational risks, which were previously considered secondary, are now assessed on par with operational and financial risks, emphasizing the importance of properly implementing an ethical culture. A well-functioning ethical system not only minimizes risks but also ensures the transparency of management processes and strengthens trust among employees, clients, and partners. In conclusion, the article emphasizes that ethical principles in business are not merely a matter of reputation. Still, also a vital strategic tool that promotes sustainable business development, enhances efficiency, and secures long-term trust from consumers and partners.

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Published
2024-10-28
How to Cite
Kohut, M., Stetsiv, I., & Sodoma, R. (2024). PROFESSIONAL ETHICS IN MARKETING AND MODERN BUSINESS ETIQUETTE AS A GUARANTEE OF THE ECONOMIC SECURITY OF THE ENTERPRISE. Economy and Society, (68). https://doi.org/10.32782/2524-0072/2024-68-75
Section
MARKETING