Lecture 2

Question 1

What is corporate social responsibility

Answer 1

Economic: be profitable
Legal: obey the laws
Ethical: do what is right, avoid harm
Philanthropic: contribute resources to the community, improve quality of life

Question 2

Strategic philanthropy

Answer 2

Using cause related marketing and green marketing

Cause related marketing: linking products to a particular cause or ongoing short term basis

Green marketing: pricing, promotion of products that do not harm natural environment

Question 3

What is marketing citizenship

Answer 3

The adoption of a strategic focus for fulfilling the economic, legal, ethical and philanthropic social responsibilities expected by stakeholders.

Question 4

What is marketing ethics

Answer 4

Principles and standards that define acceptable marketing conduct as determined by various stakeholders

Question 5

What is social responsibility

Answer 5

Organizations obligation to maximize its positive impact and minimize its negative impact on society

Example: chipotle cut carnitas supplier because it violated how the pigs were raised