This paper attempts to examine the ethical dilemmas faced by the managers in making decisions in the marketing of food products. In the prevailing business environment, most of the organisations primarily aim to optimize profits in the long term survival what has emerged critical for feel-factor among the existing and prospective consumers and commitment among employees. A decade ago concept of ethical marketing was restricted to few known companies or selected brands but as a general marketing phenomenon it is only in the recent times that it has come to be accepted as critical to sustaining long term growth of the business across the global marketing spectrum. The dictates of the intense competition and global access to the goods and services have made ‘social responsibility’ as the cardinal mantra for transacting business. In the emerging market scenario, business practices and transparency in the market are not only found to be essential but have also become a basic requirement under the existing laws of the land and as such the role of marketers in decision making functions has changed under emerging new realities.