MKT 300 Chapter 4

b

All companies have a responsibility to ____ so they can provide a return on investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy.

b

Employees, customers, communities, and investors are all considered ____ in relation to marketing. a) responsibilities b) stakeholders c) shareholders d) constituents e) owners

b

The practice of linking products to a particular social cause on an ongoing or short-term basis is known as: a) target marketing b) cause-related marketing c) relationship marketing d) customer-centric marketing e) sustainable marketing

a

The term ___ refers to the principles and standards that define acceptable conduct in marketing as determined by various stakeholders. a) marketing ethics b) relationship marketing c) customer-centric marketing d) green marketing e) sustainable marketing

c

_____ refers to the potential for the long-term well-being of the natural environment, including all biological entities, as well as the interaction among nature and individuals, organizations, and business strategies. a) consumerism b) multicultural marketing c) sustainability d) real-time marketing e) strategic philanthropy

green marketing

a strategic process involving stakeholder assessment to create meaningful long-term relationships with customers while maintaining, supporting and enhancing the natural environment

ethical issues

an identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical.

ethical laws

an identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong.

social responsibility

an organization's obligation to maximize its positive impact and minimize its negative impact on society.

ethics officers

are usually responsible for creating and distributing the code of conduct, enforcing the code and meeting with organizational members to discuss or provide advice about ethical issues

opportunity

conditions that limit barriers or provide rewards

codes of conduct

formalized rules and standards that describe the organization's employee expectations

organizational relationships

in an organizational setting, people rely on organization values for ethical decision making

individual factors

in daily life, people base ethical decisions on personal principles and values

marketing ethics

principles and standards that define acceptable conduct in marketing as determined by various stakeholders.

1. economic 2. legal 3. ethical 4. philanthropic

social responsibility pyramid (4)

marketing citizenship

the adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders.

consumerism

the efforts of independent individuals, groups and organizations to protect the rights of consumers

sustainability

the potential for the long-term well-being of the natural environment, including all biological entities, as well as the interaction among nature and individuals, organizations and business strategies

cause-related marketing

the practice of linking products to a particular social cause on an ongoing or short term basis

strategic philanthropy

the synergistic use of organizational core competencies and resources to address key stakeholders' interests and achieve both organizational and social benefits.

distribution - counterfeiting

type of ethic issue: counterfeit products are widespread

product - product information

type of ethic issue: covering up defects that could cause harm to a consumer

promotion - advertising

type of ethic issue: deceptive advertising

pricing - pricing

type of ethic issue: indicating that an advertised sales price is a reduction below the regular price when in fact that is not the case