Sales & Marketing Executives International, Inc., was founded in 1935. Today it has over 10,000 members. In 1952 SMEI founded Pi Sigma Epsilon, the only national, coeducational, professional fraternity in marketing, sales management, and selling. PSE has more than 45,000 members at 123 campuses. SMEI's five founding principles are (1) professional identification and standards, (2) continuing education, (3) sharing knowledge, (4) assisting students, and (5) supporting free enterprise. Below is SMEI's sales and marketing creed. After studying, determine: A. How the 11 points of SMEI's sales and marketing creed relate to this chapter's section titled "Establish a Code of Ethics." B. How SMEI's sales and marketing creed relate to the Golden Rule of Selling.

1. I hereby acknowledge my accountability to the organization for which I work and to society as a whole to improve sales knowledge and practice and to adhere to the highest professional standards in my work and personal relationships.

2. My concept of selling includes as its basic principle the sovereignty of all consumers in the marketplace and the necessity for mutual benefit to both buyer and seller in all transactions.

3. I shall personally maintain the highest standards of ethical and professional conduct in all my business relationships with customers, suppliers, colleagues, competitors, governmental agencies, and the public.

4. I pledge to protect, support, and promote the principles of consumer choice, competition, and innovation enterprise, consistent with relevant legislative public policy standards.

5. I shall not knowingly participate in actions, agreements, or marketing policies or practices which may be detrimental to customers, competitors, or established community social or economic policies or standards.

6. I shall strive to ensure that products and services are distributed through such channels and by such methods as will tend to optimize the distributive process by offering maximum customer value and service at minimum cost while providing fair and equitable compensation for all parties.

7. I shall support efforts to increase productivity or reduce costs of production or marketing through standardization or other methods, provided these methods do not stifle innovation or creativity.

8. I believe prices should reflect true value in use of the product or service to the customer, including the pricing of goods and services transferred among operating organizations worldwide.

9. I acknowledge that providing the best economic and social product value consistent with cost also includes:

(a) recognizing the customer's right to expect safe products with clear instructions for their proper use and maintenance;

(b) providing easily accessible channels for customer complaints;

(c) investigating any customer dissatisfaction objectively and taking prompt and appropriate remedial action;

(d) recognizing and supporting proven public policy objectives such as conserving energy and protecting the environment.

10. I pledge my efforts to assure that all marketing research, advertising, and presentations of products, services, or concepts are done clearly, truthfully, and in good taste so as not to mislead or offend customers. I further pledge to assure that all these activities are conducted in accordance with the highest standards of each profession and generally accepted principles of fair competition.

11. I pledge to cooperate fully in furthering the efforts of all institutions, media, professional associations, and other organizations to publicize this creed as widely as possible throughout the world. Used by permission of Sales & Marketing Executives International, Inc., the worldwide professional association for sales and marketing ( www.smei.org ).