Price Reduction And Unethical Purchasing Behaviour

The practice of price gouging after a natural disaster and the attempts to control it has a great impact on the market. According thefreedictionary.com, Price gouging is the act of charging more than market value for goods when no other source for the goods is available. However, the market value of needed goods after a natural disaster is not the same as it was before the disaster. The demand for needed goods will increase after a natural disaster, and as the demand increases the prices will also increase accordingly.

The idea of price gouging can have many different perspectives on it, and is very controversial. Price gouging is when a seller spikes their prices of goods, services, or other purchase products to a level higher than reasonable. Ethically, I do agree with the fact that merchants shouldn’t sky rocket their product prices during a state of emergency—price gouging.

When it comes to moral behavior, Nepalese society held high demands. It is something our collective society is made up of. But in the developing country like ours where business is yet to be professionalized, the morality that has bounded our society for years is very weak within business and its impacts can be seen in our society and nation.

Cascio, W. F. (2006). Decency means more than "always low prices": A comparison of co

When a hurricane hits a location, many con artists take advantage since there’s desperate need for money at the moment. To those who financially wealthy, they’ll use that opportunity to become wealthier. There are a few ways con artists may scam a innocent person, one of which is by price gouging. Price gouging, at first, will be noticeable when one travels from gas station to gas station. A con artist may, for example, raise gas prices above the national average in attempt to obtain a profit in a large profit in the long run. In the case of Hurricane Sandy in 2012, price gouging was not tolerated. As a matter of fact, price gouging, where Hurricane Sandy hit the hardest in New York, will not tolerate an excessive increase in not just

In source one, the graph shows the value of a banana sold in the UK and how the total is split between the different hands involved. Although this source is very factual is has a deeper meaning than just numbers. The banana is one of the cheapest fruit sold in supermarkets, even though they come from thousands of kilometers away. The way our world has made transportation so fast, cheap, and available allows these banana’s to sit on our shelves. The transportation of the fruit has the highest value at four pence where the total value is twelve pence. The sale of the bananas at such a low cost is due to cheap transportation, the supply of the fruit being higher than the demand, and the low wages of the workers. The force of global transportation has made goods and services like banana’s more readily available.

One might ask, what makes an action ethical? Why some people think that product placement in movies is a considerably ethical phenomena, while others find it unethical and unacceptable. According to Tsalikis & Fritzsche, (1989, p, 696), ethics is an inquiry into the nature and grounds of morality where morality means moral judgments, standards, and rules of conduct (Tsalikis, Fritzsche, 1989, p, 696). In other words, ethics, which is a discipline that deals with what true and false is, is defined as a system of determined theory or moral values (Shea, 1988). Likewise an ethical evaluation is based on moral philosophy (Reidenbach & Robin, 1990). Therefore, an ethical decision depends on individual moral values, and the judgment of business activity is influenced by his/her moral philosophy (Wang, 2012).

Throughout the investigation that we conducted in two different locations we found out that possibly ethical consumerism and awareness is more popular in more affluent locations such as Hebden Bridge due to a higher budget for the average person, in addition I have realised in lime square ethical products are cheaper therefore stillgiving it a chance in todays market. On the other hand we also gathered that the majority of non-ethically produced products are made in LEDC regions therefore ethically produced products could spare people the hardship in certain circumstances . In lime square there is a need for affordable and descent quality products due to lower budgets thus less ethically produced products thus leading to less ethical awareness as people may regard ethical products such as fairtrade (products) to be overpriced thus a less attractive option.

You have just been asked to donate money to an anonymous person every day; you will never see their face and know their name. You likely hold a closer bond with your favorite childhood Disney character than you do to them. And so, you reply with a polite, “no, sorry” because you reason that it is not in your financial interest to dole out your hard-earned salary to strangers. Yet, despite the logic behind your refusal to make daily donations to an anonymous person, you are nonetheless being economically irrational when you shop ethically. This is because the premium you pay for ethical goods and services is equivalent to the daily donation that you would make as it also benefits a random, unacquainted person at the expense of your savings. It is apparent in ethical consumerism that economic rationality is overruled by ethics. This begs the question: how do ethics supersede rational economic behavior in consumer choices in ethical consumerism?

a) In an electronic store, salespeople are offered an extra $50 for each sale of HDTV models that are being closed out. The manufacturer is offering the extra spiff, and management is fully aware of it. Salespeople, though, are encouraged to not mention either the spiff or the fact that these are closeout models.

“Boomerang Effects of Low Price Discounts: How Low Price Discounts Affect Purchase Propensity”. (Cai, Bagchi, & Gauri, 2016)

Ethics in a business is a very important issue, especially in marketing. Customers want to be informed of products and their qualities, but they also want the information to be truthful. The purpose of a marketing department is to communicate products to potential customers so that they will be more inclined to purchase the product. This is where ethics comes into play. If a company makes their product look more desirable than it is, it is very likely that the consumers will be disappointed in the product. This could result in pushing customers away and might boost sales initially but they will drop off quickly. “Not employing ethical marketing practices many lead to dissatisfied customers, bad publicity, a

Both social class and ethical behavior are important notions in our society today and have been for many years. Unethical behavior can be defined as behavior or actions that hurts others and are illegal or ethically questionable (Piff et al., 2012). CNN recently reported Volkswagen is being charged with deception regarding emissions of supposedly “clean” vehicles. They reported that for over ten years more than eleven million vehicles have been deliberately programmed to fabricate emissions of damaging pollutants under certified testing conditions (Tellado, 2015). Why are consumers so concerned and outraged at this fraud? This upsets consumers and others because they care about and find ethics and morality to be important. Morals and values are important in our society because they help direct people’s lives and motivate people to take part in meaningful relationships. The research completed for his article examines not just ethical behavior but also the role social class playing in determining ethical behavior. The relationship between these to notions will examined by observing behavior at a crosswalk. Social class is defined as a circumstance established by both the material substance of social life and the individual’s understanding of his or her social rank, and is a fundamental feature of how he or she interacts in the social world (Kraus et al., 2012). Clothing type was used to operationalize social class in this research,

The article titled "Consumer Ethics: An Assessment of Individual Behavior in the Market Place," analyzes how buyers and sellers interact

Businesses have been relatively passive in investigate their in marketing ethics and are still operating according to traditional business models and process that do not reflect consumer interests and ethical implications of their activity often continue afterthought and are yet to be thoroughly incorporated into management decision-making. The contingency framework can accelerate this pre-emptive approach to ethical decision-making. To embed ethics into firms planning and strategy formulation process , marketers should learn from consumers ethical evaluation of their marketing techniques (Smith and Cooper-Martin 1997). An “ethical execution of the marketing program. In addition to financial , market, and competitive objectives, marketers should include consumer concerns and ethical integrity as important criteria for management decision making . Furthermore, ethics must be matched throughout the marketing planning process from product development, market selection , advertising and promotion execution.