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Grewal/Levy's Marketing Ch 4
Terms in this set (11)
Moral and ethical dilemmas that might arise in a business setting
Examines business ethical problems specific to marketing domain
Representation, omission, act or practice in advertisement that likely to mislead consumers acting responsibly under circumstances.
process of creation of ethical climate in a marketing firm includes having a set of values that guide decision making and behavior.
Ethics vs, social responsibility
1. Ethical and social responsible:
2. Ethical and NOT socially responsible (firm not involved with larger community)
3. Socially responsible / Unethical (questionable practices, yet, donating to community)
4. Unethical/socially irresponsible
Ethical decision making framework
1. Identify issues
2. gather information and identify stakeholders
3. brainstorm and evaluate alternatives
4. choose course of actions
Integrating ethics into marketing strategy
1. Planing phase (include ethical statements in firm's mission or vision statement)
2. Implementation phase (identify potential markets, consider ethical issues)
3. Control phase (managers must be evaluated on their actions from ethical prospective)
Corporate social responsibility
Voluntary actions taken by the company to address the ethical, social, and environmental impact of its business operations and concerns of its stakeholders.
Examples: charitable donations, diversity, fuel conservation, alternative energy
key CSR stakeholders
Employees and their families, current and potential customers, marketplace (partners and competition), society (community and environment).
Johnson & johnson credo
Has guided the firm since it was written in 1940s
When making decisions, managers often have to decide between doing what is beneficial for the them/firm in the short run and doing what is right and beneficial for the firm and society in the long run. To address the conflict the firm must
ensure that long term goals are aligned with the short term goals of each individual within the firm.
THIS SET IS OFTEN IN FOLDERS WITH...
Marketing Chapter 3, Grewal
Marketing Chapter 2, Grewal
Marketing (Grewal.Levy) Chapter 9
Marketing Chapter 1, Grewal
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