Ethics

Question 1

AMA statement of Ethics

Answer 1

• marketers must do no harm
• marketers must foster trust in the marketing system
• marketers must embrace, communicate and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing exchange system

Question 2

Honesty (V1)

Answer 2

to be truthful and forthright in our dealings with customers and stakeholders

example; McDonalds & the Olympics

Question 3

Responsibility (V2)

Answer 3

to accept the consequences of our marketing decisions and strategies

Question 4

Fairness (V3)

Answer 4

to try to balance justly the needs of the buyer with interests of the seller

example; cant be a monopoly

Question 5

Respect (V4)

Answer 5

to acknowledge the basic human dignity of all stakeholders

example; Nike had a problem with this

Question 6

Openness (V5)

Answer 6

to create transparency in our marketing operations

example; kotex commercial

Question 7

Citizenship (V6)

Answer 7

to fulfill the economic, legal, philanthropic, and societal responsibilities that serve stakeholders in a strategic manner

example; sun chips, Starbucks voting

Question 8

Social Criticisms of Marketing (INDIVIDUAL)

Answer 8

• high prices
• deception
• high pressure selling
• planned obsolescence
• harmful products

Question 9

Social Criticisms of Marketing ( SOCIETAL)

Answer 9

• materialism
• unreal expectations and desires
• cultural pollution
• taking advantage of children, lower socio-econ
• few social goods

Question 10

Sustainable Marketing Concept

Answer 10

Meeting current needs in a way that preserves the rights and options of future generations

Future Business, Future Consumers