Explain five factors that impact ethical decision making in marketing?

1. Personal values and beliefs: Each individual has their own set of values and beliefs that shape their ethical decision making. These personal factors can influence how marketers perceive and interpret ethical dilemmas, and ultimately guide their actions.

2. Organizational culture and values: The culture and values of the organization can significantly impact ethical decision making in marketing. If an organization prioritizes profit over ethical considerations, marketers may feel pressured to engage in unethical practices to achieve targets. On the other hand, if an organization promotes a strong ethical culture, marketers are more likely to make ethical decisions.

3. Legal and regulatory framework: Laws and regulations play a crucial role in shaping ethical decision making in marketing. Marketers need to be aware of and comply with legal requirements related to advertising, consumer protection, data privacy, and other areas. Failure to adhere to these regulations can have legal consequences and damage a company's reputation.

4. Stakeholder expectations: The expectations and demands of various stakeholders, such as customers, employees, shareholders, and the community, can influence ethical decision making in marketing. Marketers need to consider the impact of their actions on these stakeholders and ensure that their marketing practices align with their expectations.

5. Social and cultural norms: Social and cultural norms vary across different societies and can impact ethical decision making in marketing. Marketers need to be sensitive to cultural differences and avoid engaging in practices that may be considered unethical or offensive in certain cultures. Adhering to social and cultural norms helps build trust and credibility with consumers.