Marketing Chap 3

social control

any means used to maintain behavioral norms and regulate conflict

Behavioral norms

standards of proper or acceptable behavior. Several modes of social control are important to marketing.

Ethics

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

deontological theory

ethical theory stating that people should adhere to their obligations and duties when analyzing an ethical dilemma

utilitarian ethical theory

ethical theory that is founded on the ability to predict the consequences of an action

casuist ethical theory

ethical theory that compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes

Moral relativism

a theory of time-and-place ethics; that is, the belief that ethical truths depend on the individuals and groups holding them

virtue

a character trait valued as being good

Morals

the rules people develop as a result of cultural values and norms

code of ethics

a guideline to help marketing managers and other employees make better decisions

Foreign Corrupt Practices Act (FCPA)

a law that prohibits U.S. corporations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries

Corporate social responsibility (CSR)

a business’s concern for society’s welfare

stakeholder theory

ethical theory stating that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of a firm’s operation

pyramid of corporate social responsibility

a model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that a firm’s economic performance supports the entire structure

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

Green marketing

the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment

greenwashing

adding a minimal number of green product attributes to promote a product as green

cause-related marketing

the cooperative marketing efforts between a for profit firm and a nonprofit organization