Question & Answer: Why is it important to study consumer ethics?…..

Ethics are the values and principles which guide the individuals in their decision making process. In the current global business environment it is necessary to study the consumer ethics and the ethical issues effecting their purchasing decisions.

A large number of customers are giving same importance to price and ethical reputation of the company in their decision to purchase the products. The study of consumer ethics will help the companies to establish the ethical standards and address the ethical issues they face in promoting their products.  

These ethical standards influence the organisations strategies in recruiting employees,advertising,work environment in the organisation.Hence it is important to know consumer ethics in order to better understand the consumers and their behaviour towards the companies products use and disposal.