Chapter 4 Ethical and social responsibility in Marketing – Flashcards
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The moral principles and values that govern the actions and decisions of an individual or group are referred to as
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ethics.
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Society's values and standards that are enforceable in the courts are referred to as
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laws.
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Culture refers to the set of values, ideas, and attitudes that are learned and shared among members of a group. It also serves as a socializing force that
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dictates what is morally right and just.
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The Consumer Bill of Rights codified the ethics of exchange between buyers and sellers. It was outlined by __________ in __________.
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President John F. Kennedy; 1962
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The right to be informed means that
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marketers have an obligation to give consumers complete and accurate information about their products and services.
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Which of the following statements about social responsibility is most accurate?
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Organizations are part of a larger society and are accountable to that society for their actions.
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A key difference between cause marketing and an outright charitable contribution is that
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charitable donations are contributed at the sole discretion of the firm; with cause marketing, the amount is directly affected by the consumers' purchases of the offering.
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Which of the following is an example of green marketing?
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Lowe's discontinued the sale of wood products from the world's endangered forests.
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Which of the following statements concerning cause marketing is most accurate?
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D) The vast majority of consumers under 25 say they will switch to a brand that supports a good cause provided the price and quality of the brands are equal.
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Howard Schultz, the founder of Starbucks, wants the Starbucks Experience to include not only great coffee, but great people, first-rate music, a comfortable and upbeat meeting place, and
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sound advice on brewing excellent coffee at home.
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Four factors influence ethical marketing behavior
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societal culture and norms serve, business culture and industry practices, corporate culture and expectations, and an individual's personal moral philosophy.
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Social responsibility
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organizations are part of a larger society and are accountable to that society for their actions.
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3 concepts of social responsibility
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First, profit responsibility holds that companies have a simple duty: to maximize profits for their owners or stockholders. Second, stakeholder responsibility focuses on the obligations an organization has to those who can affect achievement of its objectives, and societal responsibility focuses on obligations that organizations have to the preservation of the ecological environment and the general public.
