Marketing Final exam

What is social responsibility

An organization’s obligation to maximize its positive impact and minimize its negative impact on society

What can social responsible activities do

Improve employee performance

−Improve customer loyalty

−Generate positive publicity

−Boost sales

−Have a positive impact on communities

−Generate indirect long-term benefits

What is marketing citizenship

The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders

What is Environmental, social, and governance (ESG)

An external assessment of an organization’s impact on society

The pyramid of corporate social responsibility

What are marketing ethics

A set of moral principles that guide a company’s marketing activities

What is caused related marketing

The practice of linking products to a particular social cause on an ongoing or short-term basis

What is strategic philanthropy

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

What is sustainability relative to social responsibility issues

The promotion of environmentally and socially responsible products, practices, and brand values

−Some environmentalists and marketers believe companies should work to protect and preserve the natural environment.

Define ethical issues in marketing

A situation that occurs as a result of a moral conflict that must be addressed

• Any time an activity causes marketing managers or customers in their target market to feel manipulated or cheated, a marketing ethical issue exists.

• Regardless of reasons behind specific ethical issues, marketers must be able to identify and resolve these issues.

What are some ethical issues related to the marketing mix

In pricing what are common ethical issues are

Whats factors influence the ethical decision making process

Individual factors, opportunity, organizational relationships

How do people learn values and principles

-Socialization by family members

− Social groups

− Religion

− Formal education

What is organizational culture

The shared beliefs, values, traditions, and behaviors of an organization

How can a firms culture be expressed formally and informally

What are codes of conduct

Formalized rules and standards that describe what the company expects of its employees (also called codes of ethics)

Whats the difference between ethics and social responsibility

−Ethics relates to individual and group decisions—judgments about what is right and wrong in a particular decision-making situation.

−Social responsibility deals with the total effect of marketing decisions on society