Ethics and social responsibility marketing Flashcards
What are ethics
moral principles and values
govern actions and decisions
of individual or group
What are laws
society’s values and standards
enforceable in courts
What are the concerns about marketing
advertising is a waste of resources marketers manipulate consumers like puppet marketing makes people materialistic marketing corrupts the values of society marketing does not meet all needs
Why is advertising a waste of resources?
cost passed down to consumers
ineffective
What is manipulating consumers?
consumers buy against their will
Why does marketing make people materialistic
persuade people to accumulate possessions
material things to evaluate success
Why is there a corruption of values due to marketing?
messages that drive hedonism materialism vanity individual successes
Why marketing does not meet all needs
meet needs that are profitable
ignore needs that are difficult or less profitable
What are the challenges marketing faces
change if it ain't broke, still improve it international competition technology used wisely internet benefits and risks social responsibility environment
Why is change a challenge
market, industry changing
improve to keep up
How do companies keep improving?
innovate
Why do companies need to welcome international competition
opportunities
rate of diffusion of marketing advances
Why technology needs to be used?
new products and solutions
better match consumer’s needs and wants
Why is the internet a benefit
reviews help consumers make informed choices
Why is the internet a risk
fake reviews to mislead consumers
disgruntled consumer
harm the brand
