Advertising and other forms of marketing communications are vital means of communicating between marketers and customers. They help to create efficient markets, both nationally and internationally, and bring significant benefits for both consumers and companies, as well as for society in general.
Responsible advertising and marketing communications, based on widely supported selfregulatory codes of conduct, are an expression of the business community’s recognition of its social obligations. The fundamental value of self-regulation lies in its ability to create, enhance and preserve consumer trust and confidence in the business communities behind it, and thereby in the marketplace itself. Effective self-regulation is also an instrument for the protection of individual companies’ goodwill and reputation.
Self-regulatory codes continue to be developed and refined in response to societal, technological and economic changes.
Independent systems of self-regulation have been successfully applying the ICC Code for the past 70 years. The use of properly implemented advertising and marketing communications codes is acknowledged and accepted in all major markets(cf example below) as industry best practice and a recognized means of providing additional consumer protection. Selfregulation is a tried and tested system which has served responsible business well, for the benefit of consumers all over the world.
see for example:
“1) the Case study report on Advertising of the Hague Institute for the Internationalisation of Law (HiiL ) Project on Constitutional Foundations of Transnational Private Regulation Coordinated by Fabrizio Cafaggi European University Institute, Florence, Italy,
University of Trento with Colin Scott, University College Dublin, Ireland & Linda Senden Tilburg University, The Netherlands” www.privateregulation.eu and
2) the EU Commission DGSanco report 2006, Self-Regulation in the EU Advertising Sector