Marketers Often Have a Huge Amount of Information About Their

question 72

Essay

Marketers often have a huge amount of information about their customers. What ethical issue should marketers include in their decisions regarding how to use this information?

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Definitions:

Economic Profits

The surplus remaining after deducting both explicit and implicit costs from total revenues, often indicating the profitability beyond normal returns.

Competitive Market

A market structure characterized by numerous buyers and sellers, such that no single market participant has the power to significantly influence prices.

Market Price

The current price at which a good or service can be bought or sold.

Total Revenue

The total income generated by the sale of goods or services by a company.