Importance of Ethical Business and Target Market of Ethical Consumers

This literature review explores the importance of ethical business and the target market of ethical consumers. It discusses the strategies and measures needed to accentuate the target market and increase revenue from ethical marketing.

Running head: LITERATURE REVIEW
Literature Review
Name of the student-
Name of the University-
Author Note-

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LITERATURE REVIEW
Summary Table
Abid, Muhammad Farrukh, and Amir Gulzar. "Impact of Strategic Orientation on New Product Success
with Mediating Role of New Product Development Knowledge Management Capabilities." Review of
Integrative Business and Economics Research 7 (2018): 1-31.
Summary- Business organizations should focus on strategic orientation.
Arshad, Muhammad, Omer Farooq, and Mariam Farooq. 2019. "The Effect of Intrinsic and Extrinsic
Factors on Entrepreneurial Intentions." Management Decision 57 (3): 649-668.
doi:http://dx.doi.org.libproxy.murdoch.edu.au/10.1108/MD-04-2016-0248.
Summary- Integration of external and internal business environment.
Audenaert, Mieke, Beatrice Van der Heijden, Neil Conway, Saskia Crucke, and Adelien Decramer.
"Vulnerable Workers’ Employability Competences: The Role of Establishing Clear Expectations,
Developmental Inducements, and Social Organizational Goals." Journal of Business Ethics (2019): 1-
15.
Summary- To improve business organizations must focus on maintenance of ethics in the workplace.
Büyüközkan, Gülçin, and Öykü Ilıcak. "Integrated SWOT analysis with multiple preference relations:
Selection of strategic factors for social media." Kybernetes 48, no. 3 (2019): 451-470.
Summary- Adoption of comprehensive SWOT Analysis.
Chiang, Wen-Yu. "Establishing high value markets for data-driven customer relationship management

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systems: An empirical case study." Kybernetes 48, no. 3 (2019): 650-662.
Summary- High Value through customer service relationship
Haber, Nicolas, and Mario Fargnoli. "Prioritizing customer requirements in a product-service system
(PSS) context." The TQM Journal (2019).
Summary- Prioritization of customer needs.
Huang, Danyan. "Research into the Application of Linguistic Adaptation Theory in Personal Selling
Communication." Theory and Practice in Language Studies 9, no. 3 (2019): 261-270.
Summary- Ethics in market competition
Lee, Po-Yen. "Taking a prospector local-market focus and foreign subsidiary performance: evidence
from China." Management Decision 57, no. 3 (2019): 569-582.
Summary- Maintenance of Ethical Competitive Advantage
Lueg, Rainer, Christian Schmaltz, and Modestas Tomkus. "BUSINESS MODELS IN BANKING: A
CLUSTER ANALYSIS USING ARCHIVAL DATA." TRAMES: A Journal of the Humanities & Social
Sciences 23, no. 1 (2019).
Summary- Focus on the choice of the customers.
Salvioni, Daniela, and Francesca Gennari. "CSR, sustainable value creation and shareholder
relations." Salvioni, DM & Gennari, F.(2017). CSR, Sustainable Value Creation and Shareholder
Relations, Symphonya. Emerging Issues in Management (symphonya. unimib. it) 1 (2017): 36-49.
Summary- Perpetration of Ethical Investments.

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Introduction
Aiming to understand and gauge the aspect of ‘ethical customers’ and ‘ethical
businesses’, the following literature review will undertake to establish the need to focus on
‘ethical business’ and enterprises. The following paragraphs will endeavor to investigate into the
various measures that are required for accentuating the target market. By conjuring instances
from various relevant literature, the following review will shed light on the important aspects of
‘ethical customers’ in relation to the target customers. The review will also take into
consideration the example of ShopHere and their business strategy directed towards the target
market of ‘ethical buying’.
Methods
The aspect of ‘Literature Review’ is one of the most important exploratory research
techniques that are available for the purpose of determining the existing and prevalent views
related to a research topic. After using the log in and password, the relevant articles were chosen
from the online portal of ProQuest. In ProQuest, many articles related to business enterprises
were available. However, I had searched using the keywords such as ethical choice, ethical
consumers and ethical consumer market. This had helped in searching the relevant articles
related to ethical target market. Out of the innumerable article, I had chosen 10 articles for

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evaluation. In addition to this, the collection of the various articles has followed the method of
differentiating the relevant resources based on their concrete relation to the topic.
Critical Analysis
A closer look at the various existing literature can reveal that the aspect of ethical
business enterprise and the ethical demands and needs of the customers form an integral part in
modern business endeavors. As per many findings, it is seen that in order to increase the revenue
earned by business organizations in the target market of ‘ethical customers’, it is essential to
understand the market and customer orientation (Abid, Farrukh, and Amir 2018). The authors
even move onto mention that the adoption of strategic management and strategic business goals
can accentuate the understanding of the target market of ‘ethical consumerism’. A
comprehensive strategic orientation helps in reaching to the target audience. Thus, in the case of
ShopHere, it can be mentioned that the adoption of the goals and objectives of ‘strategic
orientation’ can ensure the proper understanding of the target audience, which in turn, can lead to
increase in revenue from ethical marketing. The adoption of ‘strategic orientation’ in relation to
customer or market orientation can assist ShopHere in gauging the factors that leads to ethical
consumer practices. A closer look at the product and service range of ShopHere is evident of the
idea that the proper implementation of ‘strategic orientation’ can assist in generation of revenue
through the incorporation of product development.
In addition to this, it is also seen that the recent business and consumer trends often focus
on the ethical manner of production, distribution and intake of products (Abid, Farrukh, and
Amir 2018). Given the scenario, it is crucial to incorporate a proper knowledge of the prevalent
trends in relation to ethical consumerism. According to the findings of recent studies, it can be
mentioned that the concept of ‘ethical business’ and ‘ethical consumerism’ is directly reflective

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of the corporate social responsibilities vested in business organizations (Salvioni and Francesca
2017). In order to generate revenue from the target audience and recipient of the business service
and products, it is essential for business organizations to indulge in ethical investments (Salvioni
and Francesca 2017). It is also observed that the target customer market and the prevalent trends
can be influenced by the globalization of the global market. In the case of ShopHere, it can be
mentioned that in order to convert the ethical norms of the customers into buying choices, it is
important to increase the market expansion in the form of correct and ethical investments.
Collating the above-mentioned opinions and strategies, it can be mentioned that the
authors have strived to project the intrinsic aspects of ‘ethical consumerism’ and the target
market. Further, it is also seen that in order to increase and understand the target market of the
ethical customers, it is essential to include the aspects related to the choices of the customers
(Lueg, Christian and Modestas 2019). The authors also strive to establish the importance of the
target customers in the context of business. In addition to this, it is also seen that in order to
increase the target customer and target market, the business organizations such as ShopHere
should focus on the strategy of generation of high value through the increase in the customer
service relationships between the various organizations (Chiang 2019). In the case of ShopHere,
it can be mentioned that the inclusion of data driven customer service relationships can ensure a
correct evaluation of the prevalent ethical temperaments and demands of the consumers. Another
study projects the idea that in order to integrate the factors and to increase the revenue generated
from the target markets of ‘ethical customers’, it is crucial to integrate as well as prioritize the
needs of the customers in a service and product based system of business (Haber and Mario
2019). Taking into consideration this idea, it can be elaborated that organizations such as
ShopHere should also focus on the exact nature of the market needs and prioritize them

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accordingly. A closer examination of the organization will project that ShopHere has faced
certain challenges in the generation of revenue despite the implementation of ethical practices.
This can be removed by the application of the concrete marketing strategy of prioritizing the
intrinsic needs of the customers.
Recent studies are also emblematic of the idea that in the modern business environment,
many business enterprises resort to ethical manufacturing and marketing. Thus, it can be said that
there is ample scope for sustainable products and marketing. Studies reveal the fact that for
ethical marketing and ethical business, it is essential for business organizations to also focus on
the maintenance of an ethical standard in the quality of work and ethical standard of the health
standards of the employees at the workplace (Audenaert et al. 2019). Customers are often seen to
convert their ethical demands into purchasing habits when the business organizations are seen
maintaining the ethical standards in every aspect. Therefore, for business organizations such as
ShopHere can guarantee the scope for the establishment of the target market of ‘ethical
consumers’ by generating and implementing the ethical organizational practices.
A closer analysis of the prevalent market trends and customer choices will reveal that for
sustainable organizations such as ShopHere, there can be scope for accentuating the target
market as it is seen that ShopHere indulges in socially ethical practice related to manufacturing
of the clothing materials. Recent studies project that the perpetration of ethical and sustainable
business enterprises can ensure the greater participation of the employees and the higher
generation of revenue from the target market of customers who prefer to purchase products that
are manufactured in an ethical manner. Studies also reveal that innumerable external as well as
internal factors affect the business endeavors (Arshad, Omer and Mariam 2019). In order to
accentuate the scope of the development of the business organizations that promote future

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sustainability, it is quite crucial to achieve an integration of the various internal and external
contributing factors (Arshad, Omer and Mariam 2019). In the case of ShopHere, it can be
mentioned that the amalgamation of these factors can enhance as well as accentuate the target
market audience and customer of ‘ethical customers’.
A closer look at the above-mentioned articles can reveal that they strive to present the
scope and validity of the various ethical practices in the business endeavors. The articles also
endeavor to mention that in order to maintain the ethical standards in business enterprise, it is
crucial to implement the relevant ideas.
In addition to this, another article projects that due to the intense competition in the
market amongst the various businesses, it is seen that businesses need to achieve the highest
customer satisfaction to stay strong in the market (Huang 2019). By evaluating this idea, it can
be mentioned that business organizations such as ShopHere are compelled to inculcate
sustainable and ethical measures to delete the highly competitive market. The idea presented by
the authors are highly contemporary and reflects the prevalent state of various businesses. A
closer examination of another article will project that it should be necessary for business
organizations to maintain a competitive advantage over other firms to ensure the greater
expansion of the target market and customers (Lee 2019). In the case of ShopHere, there can be
ample scope for maintaining competitive advantage by adopting improved as well as approved
ethical and sustainable practices. On the other hand, another study projects the notion that a
comprehensive SWOT Analysis can assist in enlisting the exact target audience and customers
(Büyüközkan and Öykü 2019). This can assist organizations to generate and design ethical
products for the customers.

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However, the studies have failed to project the exact manner in which the business
organizations can increase the target customer base.
Conclusion
It can be concluded that the sustainable business organizations such as ShopHere need to
devise concrete strategies for accentuating the target market. It can also be concluded that the
prevalent literature strives to present the importance of ethical endeavors. The above-mentioned
articles imply that to accentuate the scope for ethical consumers and ethical target market,
business organizations such as ShopHere needs to incorporate the comprehensive measures of
assessing and understanding the intrinsic needs of the target market of ethical consumers. It is
also implied that for the better implementation of the ethical business endeavors, it is essential to
include the closer examination of the market scenario.

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References
Abid, Muhammad Farrukh, and Amir Gulzar. "Impact of Strategic Orientation on New Product
Success with Mediating Role of New Product Development Knowledge Management
Capabilities." Review of Integrative Business and Economics Research 7 (2018): 1-31.
Arshad, Muhammad, Omer Farooq, and Mariam Farooq. 2019. "The Effect of Intrinsic and
Extrinsic Factors on Entrepreneurial Intentions." Management Decision 57 (3): 649-668.
doi:http://dx.doi.org.libproxy.murdoch.edu.au/10.1108/MD-04-2016-0248.
Audenaert, Mieke, Beatrice Van der Heijden, Neil Conway, Saskia Crucke, and Adelien
Decramer. "Vulnerable Workers’ Employability Competences: The Role of Establishing Clear
Expectations, Developmental Inducements, and Social Organizational Goals." Journal of
Business Ethics (2019): 1-15.
Büyüközkan, Gülçin, and Öykü Ilıcak. "Integrated SWOT analysis with multiple preference
relations: Selection of strategic factors for social media." Kybernetes 48, no. 3 (2019): 451-470.
Chiang, Wen-Yu. "Establishing high value markets for data-driven customer relationship
management systems: An empirical case study." Kybernetes 48, no. 3 (2019): 650-662.
Haber, Nicolas, and Mario Fargnoli. "Prioritizing customer requirements in a product-service
system (PSS) context." The TQM Journal (2019).
Huang, Danyan. "Research into the Application of Linguistic Adaptation Theory in Personal
Selling Communication." Theory and Practice in Language Studies 9, no. 3 (2019): 261-270.
Lee, Po-Yen. "Taking a prospector local-market focus and foreign subsidiary performance:
evidence from China." Management Decision 57, no. 3 (2019): 569-582.

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LITERATURE REVIEW
Lueg, Rainer, Christian Schmaltz, and Modestas Tomkus. "BUSINESS MODELS IN
BANKING: A CLUSTER ANALYSIS USING ARCHIVAL DATA." TRAMES: A Journal of
the Humanities & Social Sciences 23, no. 1 (2019).
Salvioni, Daniela, and Francesca Gennari. "CSR, sustainable value creation and shareholder
relations." Salvioni, DM & Gennari, F.(2017). CSR, Sustainable Value Creation and
Shareholder Relations, Symphonya. Emerging Issues in Management (symphonya. unimib. it) 1
(2017): 36-49.

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LITERATURE REVIEW