Ethics in Marketing and Product Development: Are We Helping or Hurting Consumers?

This blog emphasizes the need for ethical marketing and product development, particularly in the context of fintech and consumer products.

As marketers and product owners, our goal is often to drive sales and growth. But have we ever stopped to think about the impact we have on people’s well-being? Sometimes, we push products people don’t even need, and maybe we’re partly responsible for some of the poor financial decisions younger generations make.

I’ve seen fresh graduates on my team skip investing but jump at the chance to buy an iPhone they can’t afford. It’s a testament to Apple’s brilliant marketing, but it also feeds into the cycle of unnecessary spending.

Take EMI options, for example. Wouldn’t it help if we showed a note or blog explaining who should consider debt before someone selects it? Instead of focusing purely on selling, why not guide users toward making informed choices?

For those in fintech, like Razorpay or Juspay, how do you ensure you’re not putting people in financial trouble? A simple reminder about responsible spending could go a long way, even if it slightly reduces conversions.

On the product side, few brands truly put the consumer first. Look at Zerodha—they don’t just sell financial services; they educate users on finance. Or The Whole Truth, which designed reusable packaging in their Diwali hampers, showing they care about sustainability.

Now, don’t get me wrong—I’m not saying people shouldn’t buy products that make them happy. If you can afford it and it adds value to your life, go for it! But for those who might not be as financially sound, maybe our responsibility as marketers should include helping them make more informed decisions.

At the end of the day, we live in a capitalist world, and profits often drive decisions. But we must ask ourselves: what kind of legacy do we want to leave as marketers and product creators? Ethical marketing isn't just about selling—it’s about caring for the well-being of the people we serve.