Week 2 Flashcards
What are ethics?
deal with personal moral principles and vlaues
What are laws?
society’s values and standards that are enforceable in courts
Which stakeholders are most important?
employees!
What do corporations owe?
certain ethical, financial, and social obligations to the community in which they operate
What is the compensation to sustainability?
way for leadership to send a message that the environment matters to us as a company
What is consumer behavior?
using, looking for, disposing of, ad researching for
What does acquiring mean?
deciding to buy something, choosing between brands
What does consuming mean?
how you use, how you store, how much you use, and who uses it
What does disposing mean?
how you get rid of remainder, reselling, recycle
What is B2C?
business to consumer marketing
What is the consumer buyer decision process? in order
problem recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation
What is extended decision making?
high effort and long; choosing a partner, buying a house
What is limited decision making?
medium effort and medium length; choosing a new phone, clothing, etc.
What is habitual decision making?
low effort and almost automatic; grocery shopping
What is problem recognition?
occurs when the consumer sees a significant difference between his/her current state and the desired/ideal state
