The American Marketing Association Statement of Ethics shown in Figure 4–3 details the rights and duties of parties in the marketing exchange process. How do these rights and duties compare with the Consumer Bill of Rights?
The Correct Answer and Explanation is:
Correct Answer:
The American Marketing Association (AMA) Statement of Ethics and the Consumer Bill of Rights both aim to promote fairness, responsibility, and respect in the marketing exchange process. However, while the AMA Statement of Ethics focuses on the ethical duties of marketers, the Consumer Bill of Rights emphasizes the fundamental rights of consumers. Together, they complement each other by defining expectations for both marketers and consumers in an ethical marketplace.
Explanation:
The Consumer Bill of Rights, introduced by President John F. Kennedy in 1962, outlines four key consumer rights:
- The right to safety – protection from harmful products.
- The right to be informed – access to truthful and adequate information.
- The right to choose – access to a variety of products at competitive prices.
- The right to be heard – the ability to voice complaints and concerns.
These rights serve to protect consumers from exploitation and ensure they are treated fairly in the marketplace.
On the other hand, the American Marketing Association (AMA) Statement of Ethics outlines the duties of marketers, including principles such as honesty, responsibility, fairness, respect, transparency, and citizenship. The AMA expects marketers to:
- Provide truthful information (aligning with the consumer’s right to be informed),
- Avoid deceptive practices,
- Promote safe products (aligning with the consumer’s right to safety),
- Respect consumer choice and privacy,
- Respond to customer concerns (aligning with the right to be heard).
Thus, the AMA’s ethical duties closely mirror the Consumer Bill of Rights. Where the Consumer Bill of Rights sets the expectations for how consumers should be treated, the AMA Statement of Ethics describes how marketers should act to uphold those rights.
In essence, both frameworks work hand-in-hand: one defines the needs and protections of the consumer, while the other defines the ethical behavior expected from marketers to meet those needs responsibly and respectfully. Together, they foster a balanced and ethical marketing environment.
