marketing ch.4 Flashcards Preview

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Flashcards in marketing ch.4 Deck (18):
1

Ethics

deal with personal moral principles/values

2

Laws

societies enforceable values/standards

3

Caveat Emptor

let the buyer beware

4

Consumer bill of rights

right to safety, right to be informed, right to choose, right to be heard

5

Economic Espionage

collection of trade secrtets of competitors. ILLEGAL

6

Code of Ethics

formal statement of ethical rules of conduct. most companies have. contributions to policical figures

7

Whistle Blowers

Employees who report unethical behavior

8

Moral Idealism

considers certain rights/duties universal. Consumer bill of rights

9

Utilitarianism

Focuses on if benifits exceed costs, behavior ethical. Otherwise its unethical

10

Social responsibility

organizations are part of society, accountable for actions

11

Three concepts of social responsiblity

profit,stakeholder and societal

12

profit responsibility

companies maximize profit for owners/stockholders

13

societal repsponsiblity

orgs have obligation to enivroment./public

14

green marketing

production of envirometnally sensitive products

15

cause marketing

when prchased, money goes to cause

16

Stakeholder responsibility

obligations to those who contribute to organizations goals

17

social audit

assesment of a firms goals/preformance in terms of social responsiblity

18

sustainable development

conducting business in a way that protects the enviroment