Pharmaceutical Marketing

Ethics in Marketing

Ethics : moral principles and values that govern the actions and decisions of an individual or group.

Business Ethics: The morals principles and values that guide the a firm’s behavior.

Marketing Ethics: are the moral principles that guide the behavior within the field of marketing and cover issues such as product safety, truthfulness in communication, honesty in relationship with customers and distributors

Definition of Ethics

Ethical Principles reflect the cultural Values and norms of Society

Pyramid of social responsibilities

Attract customers to the firm’s products thereby boosting sales and profits

Make employees want to stay in their companies and attract new ones

Attract investors

Creating value to the company itself

Importance of ethics in Marketing

Ethical issues in Pharmaceutical Marketing

Ethical issues

Marketing mix effects on consumers

Political issues

Environmental issues

Societal issues

Product safety : Drug Truthful effects, Clear side effects.

Price : it’s unethical to set prices above the normal range

Promotion: Misleading advertising, Deceptive selling, Direct marketing invasion of privacy

Place: Being Biased in Distribution

Marketing mix effects on consumer

Factors affecting the ethical behavior of sales person:-

-Personal and company and customer needs

-Company policies

-Laws

-Personal code of ethics

Deceptive selling

Objectives conflicts

Materialism: an Over emphasis on material possessions.

Why companies become Unethical in their acts?

Could be generating more profit

Short termism: an excessive focus on short-term results at the

expense of long-term interests.

Societal issues

Companies should consider being ethical with their acts that is related to Environment

Medical waste should be disposed in a safe way

Manufacturers should have special systems to get rid of the toxic fumes

Environmental issues

Obey rules and Regulation

Cooperating with the government for economic growth and development

Not trying to deceive the law

Political issues

A gesture showing company’s concern and commitment

towards the society’s sustainability and development .

Corporate social responsibility (CSR)

Respect for human rights. Respect for the differences of views. Diversity & non-discrimination should be the guiding

principle. Make some social contribution. Self-realization & creativity. Fair dealings & collaboration. Feedback from the community. Positive value- added Long term economic & social development

How to obtain CSR

Example

Example