Principles of Marketing: CHAPTER 3: ETHICS AND SOCIAL RESPONSIBILITY

The recent view on CSR is that:

corporations should help solve the problems of society while keeping an eye on the sustainability of the environment.

The two major dimensions underlying ethical ideologies are:

idealism and relativism

cause-realted marketing

marketing partnerships between businesses and nonprofit organizations, designed to spike sales for the company and raise money for the nonprofit. identification and marketing of a social issue, cause, or idea to selected target markets. For-Profit organizations partner up with nonprofit organizations and charities with the intent of doing good in society

Which of the following are factors that can reduce unethical decision-making? a. Consensus on social norms among managers b. Ethical behavior by the top management c. All of the others d. Low tolerance for unethical behavior in the company

C all of the others

Concerns for which of the following are elements that makeup sustainability? a. Economy b. Environment c. All of the others. d. Society

all o the others

Abstracting a problem, consulting others, being aware of potential sources of bias, questioning the appropriateness of reference frames, and adopting multiple frames are all ways to:

"de-bias" our own ethical judgments.

___________________ is companies pursuing practices that are good for the environment.

Green marketing

A company manufactures and markets reusable metal straws. What factor of the pyramid is the company likely following?

Philanthropic responsibilities

Choose a statement that is right about the impact of cultural value on an ethical judgment.

The extremity of ethical judgment that may be manifested in individualistic society would be most attenuated among subjectivists

what is ethics?

The moral principles that govern the conduct of an individual or group

What do ethics refer to?

Unwritten rules that may go beyond what the law dictates.

What is a code of ethics?

formalized rules and standards that describe what a company expects of its employees. - a guideline to help marketing managers and other employees make better decisions -helps employees identify what their firm recognizes as acceptable business practices -can be effective internal control of behavior, which is more desirable than external controls such as govt regulations -written code helps employees avoid confusion when determining whether their decisions are ethical -the process of formulating the code of ethics facilitates discussion among employees about what is right and ultimately leads to better decisions -Clarification for employees what the company values

Sustainability should go beyond

1.) economic sustainability of corporation to addressing 2.) the problems of society 3.) caring for our environment

CSR Pyramid

1.philanthropic responsibilities - to do good for society and quality of life 2. ethical responsibilities - do what is right 3. legal responsibilities - corporation has to obey the law of the societies 4. economic responsibilities - profitability is the foundation of all businesses

Which levels are necessary for the survival of a firm? a. Economic and legal (yes) b. Economic and ethical (no) c. Economic, legal, and philanthropic (nope) d. Legal and ethical (nope)

D legal and ethic

Choose a statement that represents idealism.

Desirable marketing outcomes are most frequently obtained by following an ethical course of action. (maybe)

Choose a statement that is correct about situationists.

Advocates individualistic analysis of each act in each situation to determine the best action.

Concerns for which of the following are elements that makeup sustainability?

All options are correct: economic, environment, and society

Select a statement that is NOT correct about the significance of the ethics in marketing.

Companies that have high ethical standards often fail to obtain financial goals.

The CSR pyramid has four levels. Which of the following arranges these levels from the first to the fourth?

Economic, legal, ethical, philanthropic

The CSR pyramid has four levels. Which of the following arranges these levels from the first to the fourth?

Economic, legal, ethical, philanthropic.

What is the difference between ethics and law?

Ethics refers to what you should do, not what you must do. The law deals with what you must do. Ethics is unwritten rules and law is written rules of the land

Why is it so hard to grasp ethics?

Ethics vary from person to person

Select a statement that is NOT correct about reasons why marketing ethics is important to you as you embark on your career?

Marketplace rewards unethical behavior.

What do ethics refer to?

Moral principles or values that govern the conduct of an individual or a group

What do ethics refer to?

Moral principles or values that govern the conduct of an individual or a group.

What is the business perspective of sustainability?

The ability of an enterprise to sustain itself over a long period of time

Which of the following best describes cause-related marketing?

When for-profit corporations pursue a worthy cause.

Which of the following statement is NOT correct?

a. The highest level of corporate social responsibility is "economic."

Choose a statement that is correct about the ethical judgment making process.

b. Most people would use some combinations of deontological evaluation and teleological evaluation.

A group of people who is low in relativism and high in idealism would most likely to believe that:

best possible outcomes can always be achieved by following universal moral rules.

Sometimes a manager intends to apply some absolute standard to the evaluation of an ethical dilemma in marketing, but circumstances skew his or her judgment (e.g., contrast effect or framing effect). What is this phenomenon called?

c. unintentional moral relativism

Which of the following is an element of sustainability?

caring for our environment

What is green marketing?

the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment. Consumers are willing to pay more for green products

Sustainability

the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time

Corporate Social Responsibility (CSR)

the notion that corporations are expected to go above and beyond following the law and making a profit. companies acknowledged responsibility to society. a business's concern for society's welfare.