marketing 4 Flashcards
What are ethics?
Ethics are the moral principles and values that govern the actions and decisions of an individual or group. They serve as guidelines on how to act rightly and justly when faced with moral dilemmas.
What are four possible reasons for the present state of ethical conduct in the United States?
(1) Increased pressure on businesspeople to make decisions in a society with diverse value systems. (2) A growing tendency for business decisions being judged publicly by groups with different values and interests. (3) The public’s expectations of ethical business behavior have increased. (4) Ethical business conduct may have declined.
What rights are included in the Consumer Bill of Rights?
The Consumer Bill of Rights (1962) codified the ethics of exchange between buyers and sellers. These are the rights to safety, to be informed, to choose, and to be heard
Economic espionage includes what kinds of activities?
: Economic espionage is the illegal and unethical clandestine collection of trade secrets or proprietary information about a company’s competitors. This practice includes trespassing, theft, fraud, misrepresentation, wiretapping, searching competitors’ trash, and violations of written and implicit employment agreements with noncompete clauses.
What is meant by moral idealism?
: Moral idealism is a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome; it is the philosophy embodied in the Consumer Bill of Rights and favored by consumer interest groups.
What is meant by social responsibility?
Social responsibility means that organizations are part of a larger society and are accountable to that society for their actions. It comprises three concepts: (1) profit responsibility—maximizing profits for the organization’s owners or shareholders; (2) stakeholder responsibility—focusing on the obligations organizations have to those who can affect the achievement of its objectives; and (3) societal responsibility—focusing on the obligations organizations have to preserve the ecological environment and to the general public.
Marketing efforts to produce, promote, and reclaim environmentally sensitive products are called __________.
green marketing
What is a social audit?
A social audit is a systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility. It consists of five steps: (1) Recognition of a firm’s social expectations and the rationale for engaging in social responsibility endeavors. (2) Identification of social responsibility causes or programs consistent with the company’s mission. (3) Determination of organizational objectives and priorities for programs and activities it will undertake. (4) Specification of the type and amount of resources necessary to achieve social responsibility objectives. (5) Evaluation of social responsibility programs and activities undertaken and assessment of future involvement.
