marketing ch.4

Question 1

Ethics

Answer 1

deal with personal moral principles/values

Question 2

Laws

Answer 2

societies enforceable values/standards

Question 3

Caveat Emptor

Answer 3

let the buyer beware

Question 4

Consumer bill of rights

Answer 4

right to safety, right to be informed, right to choose, right to be heard

Question 5

Economic Espionage

Answer 5

collection of trade secrtets of competitors. ILLEGAL

Question 6

Code of Ethics

Answer 6

formal statement of ethical rules of conduct. most companies have. contributions to policical figures

Question 7

Whistle Blowers

Answer 7

Employees who report unethical behavior

Question 8

Moral Idealism

Answer 8

considers certain rights/duties universal. Consumer bill of rights

Question 9

Utilitarianism

Answer 9

Focuses on if benifits exceed costs, behavior ethical. Otherwise its unethical

Question 10

Social responsibility

Answer 10

organizations are part of society, accountable for actions

Question 11

Three concepts of social responsiblity

Answer 11

profit,stakeholder and societal

Question 12

profit responsibility

Answer 12

companies maximize profit for owners/stockholders

Question 13

societal repsponsiblity

Answer 13

orgs have obligation to enivroment./public

Question 14

green marketing

Answer 14

production of envirometnally sensitive products

Question 15

cause marketing

Answer 15

when prchased, money goes to cause

Question 16

Stakeholder responsibility

Answer 16

obligations to those who contribute to organizations goals

Question 17

social audit

Answer 17

assesment of a firms goals/preformance in terms of social responsiblity

Question 18

sustainable development

Answer 18

conducting business in a way that protects the enviroment