marketing chapter four key terms

Social Responsibility

An organization’s obligation to maximize its positive impact and minimize its negative impact on society. It deals with the total effect of all marketing decisions on society

Marketing Citizenship

The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders. It is also known as corporate social responsibility (CSR)

Marketing Ethics

Principles and standards that define acceptable marketing conduct as determined by various stakeholders. These standards go beyond legal issues to foster trust in marketing relationships

Cause-Related Marketing

The practice of linking products to a particular social cause on an ongoing or short-term basis. Well-designed programs can increase sales and create feelings of respect for the company

Strategic Philanthropy

The synergistic use of organizational core competencies and resources to address key stakeholders’ interests and achieve both organizational and social benefits

Sustainability

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

Ethical Issue

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

Organizational (Corporate) Culture

A set of values, beliefs, goals, norms, and rituals that members of an organization share. It suggests rules for how to behave and deal with problems within the organization

Codes of Conduct

Formalized rules and standards that describe what the company expects of its employees. These promote ethical behavior by reducing opportunities for unethical conduct

Stakeholder Orientation

The process of understanding and addressing the needs of all stakeholders, including communities and special-interest groups. It goes beyond just focusing on customers and competitors

Channel Stuffing

The practice of shipping surplus inventory to wholesalers and retailers at an excessive rate. This is often done to inflate financial numbers before the end of a quarter