Ethics in Marketing: Key Principles According to the AMA

Hi, I am Carlos Valdez, director and founder of Mercadotecnia y Ventas. This is my video audioblog for August 26th, titled "Ethics in Marketing: Key Principles According to the AMA," and the text goes as follows.

In the dynamic and competitive world of marketing, the decisions we make not only affect our organizations but also have a significant impact on society. That's why ethics plays a crucial role in our profession. The American Marketing Association (AMA) guides us in this aspect with its Statement of Ethics, which establishes the ethical norms and values that all marketers should follow. In this blog, we will explore the key principles defined by the AMA to help us navigate our daily activities with integrity.

Ethical Norms

The AMA’s ethical norms are principles that govern and guide the behavior of marketers, ensuring that our actions benefit both stakeholders and society at large. The three key ethical norms are: Do no harm, foster integrity, and embrace ethical values.

 1. Do No Harm: It is essential to avoid actions or omissions that could harm any stakeholder. We must adhere to the highest ethical standards and comply with all applicable laws and regulations in our decisions.

 2. Foster Integrity: Integrity is based on transparency and fairness in all aspects of the marketing ecosystem. This means being honest and fair in our interactions and transactions.

 3. Embrace Ethical Values: Ethical values include honesty, responsibility, fairness, transparency, and citizenship. These values strengthen relationships and enhance stakeholder trust.

Ethical Values

Ethical values represent what the community considers appropriate and morally acceptable. The AMA highlights five fundamental ethical values: honesty, responsibility, fairness, transparency, and citizenship.

• Honesty: Be truthful in all situations, rejecting any form of manipulation or coercion that could damage trust. Honor explicit and implicit promises and offer solutions that faithfully reflect our intentions.

• Responsibility: Recognize our social obligations to stakeholders and consider environmental and societal impacts in our decisions. Strive to exceed legal and industry standards in protecting private and sensitive information.

• Fairness: Promote inclusive marketing practices and support a diverse workforce. Recognize the needs of vulnerable market segments and avoid any form of stereotyping or negative representation.

• Transparency: Foster a spirit of openness in all marketing activities. Communicate clearly and honestly with all stakeholders, and be willing to accept feedback and take appropriate action to mitigate potential risks.

• Citizenship: Fulfill the economic, legal, and social responsibilities that benefit stakeholders. Value the role of marketing in society, protect the environment, and contribute to the community's welfare through volunteering and charitable donations.

Implementation and Commitment

The AMA recognizes that its Statement of Ethics is an aspirational guide to motivate the marketing community toward the highest ethical standards. While it may not have the resources to enforce compliance with this statement in all areas, it expects all marketing professionals to act courageously and proactively in fulfilling these norms and values.

At Mercadotecnia y Ventas, we firmly believe that ethics is the fundamental pillar for building strong and sustainable relationships with our clients and the community. We are committed to upholding these principles and values, ensuring that every decision we make aligns with our purpose of creating value responsibly and equitably.

Conclusion

Ethics in marketing is not just an option; it is a responsibility that we all share. By adhering to the norms and values established by the AMA, we are not only protecting the integrity of our profession but also contributing to the greater good of society as a whole. At Mercadotecnia y Ventas, we are dedicated to keeping these principles at the heart of everything we do.

Thank you very much to everyone who has subscribed to our YouTube channel, Apple Podcast, and Spotify. Also, thanks to those who have connected with me via LinkedIn and have sent messages or emails. Remember, you can contact me at [email protected].

I’ll close by reminding you that in marketing and sales, we must always create value.

Thank you and until next time.

Dr. Carlos Valdez