Question
This is a tough one because I think there is a lot of gray area in the business world on this issue. I only say
This is a tough one because I think there is a lot of gray area in the business world on this issue. I only say that because we need to be careful whenever we decided to make decisions that lead to legislative action, but I do agree obviously that we need to protect vulnerable consumers. What exactly is a vulnerable consumer? Vulnerable consumers typically possess limited decision-making capacity, face economic disadvantages, and are emotionally susceptible, making them prone to deceptive marketing practices (DMA.org, 2018). A lot of times we see people who are independent enough to be taken advantage of but mentally or socially aware of the full capacity of their environment (I.e. old people, refugees/foreigners). Governmental regulation can serve as a means of protecting these types of people, ensuring transparency, informed choice, and prevention of exploitation. Within a Christian worldview, businesses should consider marketing to these groups of people with a sense of transparency and compassion. Transactions should only be made when the product or service is something that these people are capable of paying for, it should be something they need/is practical, and the sellers should know when people do not have full awareness of what they are getting themselves into. These principles advocate for responsible marketing that respects the dignity and well-being of all customers, particularly the vulnerable, reinforcing the importance of both ethical marketing practices and government regulation.
References:
Who are vulnerable consumers and how can you learn to recognize their needs?(n.d.). Dma.org.uk.https://dma.org.uk/article/who-are-vulnerable-consumers-and-how-can-you-learn-to-recognise-their-needs
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Please JUSTIFY or agree/disagree with the writer or answer the following. And please mention if you are justifying,agreeing,disagreeing or answering the above.Thanks
The note should have intext citations. For example, anything with numbers or quotes per paragraph. The intent citation just needs to be the Author's last name and year it was published. Please also include REFERENCES. Thanks
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