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Also INSEAD Working Paper N 98/94/MKT In this article, the authors describe the need and the search to date for a normative moral foundation for marketing. Social contract theory appears promising because of its clear correspondence to the exchange relationships central to marketing thought and practice. The authors introduce it in a specific formulation known as Integrative Social Contracts Theory (ISCT). This theory provides a coherent framework for resolving ethical issues that arise among different communities and is therefore particularly appropriate because marketers frequently engage in boundary-spanning relationships and cross-cultural activities. The authors explore the application of ISCT to ethical decision making in marketing through the use of bribery as a major illustrative example. They discuss implications for managers and researchers.