Chapter 17 Flashcards
(7 cards)
1
Q
Why should we care about ethics & social responsibility in marketing?
A
- Fairness of the exchange process
- Value (benefits but at what costs to the consumer?)
- Data = Power (and with great power comes…)
- Single minded focus on company profits not enough
- Additional benefits to the firm: customers are more likely to buy
2
Q
Corporate social responsibility (CSR)
A
= the voluntary action taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.
3
Q
Stakeholders Impacted by CSR
A
- Environment
- Employees - CSR engagement increases employee productivity by 17%
- Customers - Increases willingness to make more eco-friendly choices, Provides emotional, social, and functional value
- Marketplace - Gain advantage and reputation via CSR practices
- Society - Upliftment of the lesser privileged
4
Q
Marketing ethics
A
examines ethical situations that are specific to the domain of marketing, including societal, global, or individual consumer issues
5
Q
Ways in which ethics manifests in an organization
A
- Way: Top management Values (ethical climate) Rest of the employees Practices
- Way, hire the right people: Cultural background, Self-focussed vs. other-focussed
6
Q
A framework for ethical decision making
A
- Identify all possible questions/issues
- What information would you need to answer the identified questions? Who will be the stakeholders that would be affected?
- Identify the key choices you can make and evaluate them
- Choose (even refine) a course of action. Consider the ethical-decision making metric. Include, additional recommendations for future.
7
Q
Ethical Tests:
A
- The Publicity Test
- The Moral Mentor Test
- The Admired Observer Test
- The Transparency Test
5.The Person in the Mirror Test - The Golden Rule Test
