Conscious Marketing & CSR - Key Terms

Vocabulary flashcards covering key concepts and terms from the lecture notes on conscious marketing, CSR, stakeholders, ethical decision making, and related frameworks.

Conscious Marketing

An approach that recognizes marketing's greater purpose, considers all stakeholders, is guided by conscious leadership, and makes ethically based decisions.

Corporate Social Responsibility (CSR)

Voluntary actions by firms to address ethical, social, and environmental impacts beyond legal/economic duties; aimed at the triple bottom line.

Triple Bottom Line

A performance framework evaluating economic, environmental, and societal outcomes.

Higher Purpose

A central, overarching goal that guides a firm's strategy beyond profit.

Conscious Leadership

Leadership that fosters ethical decision making and a caring, purpose-driven culture for stakeholders.

Holistic Ecosystem View

A view of business as part of a complex adaptive system where community and environment matter.

Mechanistic View of Business

A view of business as a machine with fixed processes and outputs; less emphasis on broader societal systems.

CSR vs Conscious Marketing

CSR is independent of core purpose/culture; Conscious Marketing puts higher purpose at the core and integrates social and environmental concerns into strategy.

Stakeholders

People or groups affected by a firm's actions, including employees, customers, partners, competitors, marketplace, society, and environment.

Stakeholders: Employees

Employees and their families who are affected by corporate actions.

Stakeholders: Customers

Current and potential customers who influence and are influenced by marketing decisions.

Social Responsibility Programs (CSR initiatives)

CSR initiatives by firms such as those by Coca-Cola Foundation, Amazon, Microsoft, Disney, and Starbucks.

The Coca-Cola Foundation

Donated over $1 billion to communities since 1984; priorities include empowering women, protecting the environment, and youth development.

Unilever CSR Initiative (Retailer Support)

Program aimed at helping SME retailers grow by providing skills, finance, and technology.

Nike Grind

Nike's program to recycle manufacturing scrap and worn-out sneakers into new products.

Planning Phase (Conscious Marketing Integration)

Early planning stage where conscious marketing can be embedded in the mission/vision statements.

Implementation Phase

Phase where conscious marketing practices are put into practice across the firm.

Control Phase

Phase where ethical implications are considered when evaluating marketing performance and data use.

The Ethical Decision-Making Process

Structured approach: identify issues, gather information and stakeholders, brainstorm & evaluate alternatives, choose action.

Step 1: Identify Issues

Identify the ethical issues involved in the decision.

Step 2: Gather Information & Identify Stakeholders

Collect relevant facts and identify individuals and groups with a stake in the outcome.

Step 3: Brainstorm & Evaluate Alternatives

Discuss and refine possible actions, considering ethics and consequences.

Step 4: Choose a Course of Action

Select the best ethical alternative and implement it.

The Publicity Test

Would I want this action on the front page of a newspaper or magazine?

The Moral Mentor Test

Would the person I admire most engage in this activity?

The Admired Observer Test

Would I want the admired person to see me doing this?

The Transparency Test

Could I clearly explain my action and motives to a fair judge?

The Person in the Mirror Test

Will I respect the person I see in the mirror after taking this action?

The Golden Rule Test

Would I like to be on the receiving end of this action and its consequences?

100% Renewable Electricity

Power from renewable sources used across offices and data centers to reduce environmental footprint.

Carbon Neutral Operations

Achieving carbon neutrality across a firm's operations.

LEED-Certified Stores

Retail buildings certified for sustainable design and operations.

Sustainability in Marketing

Incorporating environmental stewardship and social responsibility into business decisions.

Conscious Marketing vs CSR Relationship

CSR is part of conscious marketing but not the same; conscious marketing places higher purpose at core.