Chapter 5: Marketing and Disclosure Flashcards
Contemporary Issues
- Preposition 37
Is a Mandatory genetically engineered food initiatives
S.764
USDA symbol indicating the preservatives of GMO
What does the CFIA do
They set standards for the Canadian food labels so that they are truthful and misleading
Example of an ethical issue in the related areas
Information disclosure
Cui bono means what?
“Who benefits”
Moral guidelines for ethical information
minimal information rule adjusted minimal information rule fairness rule mutual benefit rule maximal information rule
Define minimal information rule
It is up to the buyers responsibility to get the information
Define adjusted minimal information rule
Disclosure of information only what is necessary to avoid risk of injury
Define Fairness rule
safety info plus unavailable info
Define Mutual benefit rule
safety information plus info needed to make a reasonable judgement
Define maximal information rule
all relevant information
“Caveat emptor”
Buyer beware, purchaser assumes the risk when making his/her purchase
Examples of minimal info rules
“as, is” sales, shirrifs sales, forced sales
The Fairness rule
provides information that any reasonable person could not be expected to know,
Downfalls to the Fairness rule
- doesnt protect vulnerable customer
- who decides what fairness means
The mutual benefit rule
- seller is expected to give ANY relevant information to the buyer to make a reasonable judgement
- helps to buyer make a satisfactory choice, but it’s not optimal
- helps the employee remain a company advocate yet still serve the companies needs
- rule comes closet to satisfy ethical and practical concerns
Maximal rule
- buyer MUST provide all information, mat not remain a company advocate
a morally justified market is..
competition is free, competition is open, no deception or fraud, no abuse of the vulnerable
Possible actions
- regulations, self-regulations, increase information disclosure, keep it up to the component others
Adjustments for the vulnerable populations
delay marketing, restrict marketing, alter marketing to not take advantage, take control of a spillover affect
