Chapter 4 marketing vocabulary

Social Responsibility

An organization’s obligation to maximize its positive impact and minimize it’s negative impact.

Socially responsible activities can:

• improve employee performance

• incentivize customer loyalty

• Generate positive publicity

• improve sales

• impact communities positively

• create long-term benefits

Marketing citizenship or corporate social responsibility (CSR)

The adoption of a strategic focus for meeting the economic, legal, ethical, and philanthropic social responsibility expectations of stakeholders.

Environment, social, and governance (ESG)

An external assessment of an organization’s impact on society.

The Pyramid of Corporate Social Responsibility

Top of the pyramid: Philanthropic

Next: Ethical

Next: Legal

Bottom of pyramid: Economic