Question: Research various codes of ethics in marketing research. A code of ethics, also referred to as an ethical code, may encompass areas such as business

Research various codes of ethics in marketing research.

A code of ethics, also referred to as an "ethical code," may encompass areas such as business ethics, a code of professional practice, and an employee code of conduct (Hayes, 2023). Ethical practices in market research are those that respect privacy, preserve anonymity, treat participants with dignity and respect, and operate within the framework of laws and regulations. The code of ethics define the ethical way of functioning for the organizations they provide guidelines to the employees in the organizations about how they should act in order to develop ethical stance in their behaviors. The main three types of codes of ethics include a compliance-based code of ethics, a value-based code of ethics, and a code of ethics among professionals Hayes, 2023).

Explain how these codes of ethics support Conscious Capitalism.

The ethical codes of conduct of compliance-based code of ethics, value-based code of ethics, and a code of ethics among professionals promotes conscious capitalism by:

1. Developing stakeholder orientation and commitment towards the interests of the relevant stakeholders 2. Enforcing the implementation of conscious ethical leadership in the industry 3. Helping the businessdevelop higher purposes like social work rather than just focus on economic gains 4. It enables the companies to develop conscious ethical organizational culture

Why might someone prioritize ethics in services marketing?

The reason being is because by adopting ethical marketing practices, businesses can build trust and credibility with consumers, differentiate themselves from competitors, and contribute to a better society. Despite the challenges, businesses can take practical steps to implement ethical marketing practices and stay ahead of the curve. Therefore, A code of ethics sets out an organization's ethical guidelines and best practices to follow for honesty, integrity, and professionalism.

Reference

Hayes, A. (2023). Code of Ethics: Understanding Its Types, Uses Through Examples. https://www.investopedia.com/terms/c/code-of-ethics.asp

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