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GOOD GOVERNANCE > Ethics in Marketing > Flashcards

Ethics in Marketing Flashcards

1
Q

It addresses principles and standards that define acceptable conduct in the market place.

A

Marketing Ethics

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2
Q

The law and regulations are generally designed to protect the consumers from unethical practices by businesses. These laws and regulations recognize that consumers have certain basic rights in the market place.

A

Marketing Ethics & Consumer Rights

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3
Q

It is the component of the marketing environment consisting of laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights.

A

Political-legal Environment

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4
Q

It has the broadest regulatory powers over marketing

A

Federal Trade Commission

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5
Q

It is where complying with laws and regulations serves customers and avoids legal problems. It also influenced the outcome of legislation through lobbying or boycotts.

A

Controlling the Political-Legal Environment

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6
Q

Marketers’ standards of conduct and moral values.

A

Marketing Ethics

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7
Q

What are the Ethics in Marketing Research?

A

Invalid or unreliable research studies.
Invasion of consumer privacy, not respecting confidentiality.
Disguising sales as research.
Failure to secure voluntary and informed participation.
Competitive intelligence gathering.
Consumers are concerned about privacy, and
Internet has increased privacy concerns:
(1) FTC provides consumer information about
privacy online.
(2) The U.S. government also maintains a Do Not
Call registry to prevent unwanted telemarketing.

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8
Q

Truth in advertising is the bedrock of this type of ethics in Marketing.

A

Ethics in Promotion

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9
Q

It is the most regulated aspect of a firm’s marketing activities.

A

Ethics in Pricing

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10
Q

What are the Four areas of Pricing that is considered Unethical and illegal?

A

Deceptive Pricing
Unfair Pricing
Price Discrimination
Price Fixing
- Horizontal Pricing Fixing
- Vertical Price Fixing

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11
Q

It is where a salesperson tries to influence lure customers into a store. Thereafter, a salesperson tries to influence to buy a higher-priced item.

A

Deceptive Pricing

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12
Q

This is when competitors are driven out by low prices the company raises price back to their former level.

A

Unfair Pricing

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13
Q

It can be unethical if similar buyers are charged different prices for the same based on their ability to pay.

A

Price Discrimination

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14
Q

It is an agreement among firms in an industry to set up prices at certain levels.

A

Price Fixing

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15
Q

Marketing philosophies, policies, procedures, and actions that have the enhancement of society’s welfare as a primary objective.

A

Social Responsibility in Marketing / Social Responsibility

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16
Q

Marketing decisions must involve consideration of general well-being and even potential global effects. Some organization help promote social causes or practice socially responsible investing.

A

Marketing Responsibilities

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17
Q

It is the production, promotion, and reclamation of environmentally sensitive products.

A

Green Marketing

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18
Q

What are the Ethical Values that can also use in Marketing?

A

Honesty
Responsibility
Fairness
Respect
Openness
Citizenship

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19
Q

It is to be truthful and forthright in our dealings with customers and stakeholders.

A

Honesty

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20
Q

It is to accept the consequences of our marketing decisions and strategies.

A

Responsibility

21
Q

it is where trying to balance justly the needs of the buyer with the interests of the seller.

A

Fairness

22
Q

It is to acknowledge the basic human dignity of all stakeholders.

A

Respect

23
Q

It is to create transparency in our marketing operations.

A

Openness

24
Q

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

A

Citizenship

25
Q

Culture dictates what is right and wrong, so “right” changes from culture to culture.

A

1st Influence - Societal Culture and Norms

26
Q

A Latin phrase meaning “let the buyer beware” - what you see is what you get, not what you expected, too bad

A

Early 1900s: Caveat Emptor

27
Q

It is a law that codified (standardized what was not previously written down) the ethics of exchange between buyers and sellers. It includes the buyers rights: to safety, to be informed, to choose, and to be heard.

A

Consumer Bill of Rights (1962)

28
Q

It is where stealing trade secrets, includes trespassing, wiretapping, dumpster diving

A

Economic Espionage

29
Q

It is a payment before service and a payment after service. These are both illegal in U.S. but very common in developing nations.

A

Bribes and Kickbacks

30
Q

What is the 3rd Influence in Understanding Ethical Behavior?

A

Corporate Culture & Expectations

31
Q

What is the 2nd Influence in Understanding Ethical Behavior?

A

Business Culture & Industry Practices - B to C

32
Q

What is the 1st Influence in Understanding Ethical Behavior?

A

Societal Culture and Norms

33
Q

It is a company’s duty is to maximize profits

A

Profit Responsibility

34
Q

Shrinking the supply to raise price and profit.

A

Profiteering

35
Q

It is Company’s duty is to protect the interests of owners.

A

Stakeholder Responsibility

36
Q

It is a Company’s duty is to preserve environment, to protect users of their products, while reaping profit.

A

Societal Responsibility

37
Q

What main rights are included in the Consumer Bill of Rights?

A

The rights to safety, to be informed, to choose, and to be heard.

38
Q

What is meant by moral idealism?

A

Moral idealism is a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.

39
Q

What is meant by social responsibility?

A

Social responsibility means that organizations are a part of a larger society and are accountable to that society for their actions.

40
Q

Marketing efforts to produce, promote, and reclaim environmentally sensitive products are called?

A

Green Marketing

41
Q

These are the moral principles and values that govern the actions and decisions of an individual or group.

A

Ethics

42
Q

These are society’s values and standards that are enforceable in the courts.

A

Laws

43
Q

It is a formal statement of ethical principles and rules of conduct.

A

Code of Ethics

44
Q

These are employees who report unethical or illegal actions of their employers.

A

Whistle-blowers

45
Q

It is a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.

A

Moral Idealism

46
Q

It is a personal moral philosophy that focuses on “the greatest
good for the greatest number,” by assessing the costs and benefits of the consequences of ethical behavior.

A

Utilitarianism

47
Q

This means that organizations are a part of a larger society and are accountable.

A

Social Responsibility

48
Q

It consists of marketing efforts to produce, promote, and reclaim environmentally sensitive products.

A

Green Marketing

GOOD GOVERNANCE (4 decks)

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