Marketing self-regulation: Time for a shake-up?
Laws don't always stop firms from manipulating or misleading customers. But should marketers be worried by new legislation investigating areas where self-regulation has previously turned a blind eye, asks Mark Stuart, head of research at the Chartered Institute of Marketing?
Legislation supported and complemented by a self-regulatory environment has a long tradition of helping companies stay on the straight and narrow in the UK, both legally and ethically. A law in itself doesn’t necessarily stop companies manipulating or misleading its customers, either with inaccurate promises or by omitting key pieces of important information. We have a robust self-regulatory environment in order to ensure that the spirit of the law is met, as well as by the letter.