[9] Ethics of Marketing

Question 1

Business Ethics Def (Author, Yr)

Answer 1

The moral principles and values that govern the actions and decisions of an individual or group (Berkowitz et al., 2004).

Question 2

Marketing Ethics Def (Author, Yr)

3x egs

Answer 2

The moral principles and values that guide behaviour within the field of marketing

Cover issues such as product safety, truthfulness in marketing communications, honesty in relationships etc.

Question 3

Ethical Dilemma occurs when [generic]

Example 2

Answer 3

Occur when two principles or values conflict:

Example:

Achieving corporate goals (profitability) – Principle 1

Being environmentally friendly – Principle 2

Question 4

Typical Key Stakeholders for a Company [5]

Answer 4

Shareholders
Suppliers
Customers (inc. intermediaries)
Employees
Communities associate with the company

Question 5

!!!*** Marketing Mix Effects on Consumers [4]

Answer 5

Product

Price

Promotion

Place

Question 6

Concerns:
Environmental [2]
Political [1]
Societal [2]

Answer 6

Waste
Environmental Harm

Globalization and its effect on industry and competitiveness (e.g. power of multinational companies)

Materialism
Sort-termism

Question 7

CSR (Author, Yr)

Answer 7

“Corporate social responsibility encompasses the economic, legal, ethical, and philanthropic expectations placed on organizations by society at a given point in time” (Carroll and Buchholtz 2000, p.35)

Question 8

Dimensions of CSR and their marketing response [5]

Answer 8

• Physical Environment =Sustainable Marketing
• Social (community involvement) = Societal marketing/cause-related marketing
• Consumer = Societal marketing
• Supply Chain = Fair trade marketing
• Employee Relations = internal marketing

Question 9

Legal and Regulatory Responses to Ethical Issues in Marketing [4] and Example (detailed)

Answer 9

EU competition laws and regulatory bodies

National laws covering consumer rights and protection

Competition regulation supported by government-backed regulatory bodies

Voluntary bodies set up by industries to create and enforce codes of practice

Example – Pharmaceutical Industry http://www.pmcpa.org.uk/thecode/Documents/Code%20of%20Practice%202016%20.pdf