Consumer Bill of Rights (1962)

a law that codifies the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard

collection of trade secrets/propriety information about a company's competitors. Unethical behavior

formal statement of ethical principles and rules of conduct

employees who report unethical or illegal actions of their employees

personal moral philosophy that considers certain individual rights or duties as universal. All or nothing EX: 3 M Scotch guard stopped production due to harmful chemicals.

moral philosophy that focuses on the "greatest good of the greatest number "EX: Nestles Gerber formula kept producing stating nothing is effective 100% of the time when their product only helped a few people

Social Responsibility

idea that organizations are a part of a larger society and are accountable to that society for their actions. Encompasses profit, stakeholder, and societal responsibility.

the need for organizations to improve the state of the people, planet, and profit to achieve sustainable long-term growth

marketing efforts to produce environmentally sensitive products

charitable contributions of a firm are tied directly to revenue from their products

Sustainable Marketing

The future won't be affected by today. Meet todays (global) economic, environmental, and social needs without compromising the future.

systematic assessments of a firm's objectives, strategies, and performance in terms of social responsibility

Sustainable development

protecting the natural environment while making economic progress

values, ideas, and attitudes that are learned and shared among members of a group

Minimum a company can do in Social Responsibility

Profit responsibility- includes owners and stockholders. maximize profits for stakeholders

Second level of the Concept of Social Responsibility

Stakeholder Responsibility- includes suppliers, distributors, employees, and consumers. Obligations to those who can affect the achievement of company objectives

Largest Concept of Social Responsibility

Societal Responsibility- includes the public interest groups, ecological environment, and general public. Obligations to the environment and public

Payments made by manufacturers to retailers in exchange for securing shelf spaces for their products

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Chapter 4 Marketing

Term	Definition
Ethics	moral principles and values that govern actions of a person or group
Laws	society's values and standards that are enforceable in court
Consumer Bill of Rights (1962)	a law that codifies the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard
Economic Espionage	collection of trade secrets/propriety information about a company's competitors. Unethical behavior
Code of Ethics	formal statement of ethical principles and rules of conduct
Whistleblowers	employees who report unethical or illegal actions of their employees
Moral Idealism	personal moral philosophy that considers certain individual rights or duties as universal. All or nothing EX: 3 M Scotch guard stopped production due to harmful chemicals.
Utilitarianism	moral philosophy that focuses on the "greatest good of the greatest number "EX: Nestles Gerber formula kept producing stating nothing is effective 100% of the time when their product only helped a few people
Social Responsibility	idea that organizations are a part of a larger society and are accountable to that society for their actions. Encompasses profit, stakeholder, and societal responsibility.
Triple Bottom Line	the need for organizations to improve the state of the people, planet, and profit to achieve sustainable long-term growth
Green Marketing	marketing efforts to produce environmentally sensitive products
Cause Marketing	charitable contributions of a firm are tied directly to revenue from their products
Sustainable Marketing	The future won't be affected by today. Meet todays (global) economic, environmental, and social needs without compromising the future.
social audit	systematic assessments of a firm's objectives, strategies, and performance in terms of social responsibility
Sustainable development	protecting the natural environment while making economic progress
Culture	values, ideas, and attitudes that are learned and shared among members of a group
Minimum a company can do in Social Responsibility	Profit responsibility- includes owners and stockholders. maximize profits for stakeholders
Second level of the Concept of Social Responsibility	Stakeholder Responsibility- includes suppliers, distributors, employees, and consumers. Obligations to those who can affect the achievement of company objectives
Largest Concept of Social Responsibility	Societal Responsibility- includes the public interest groups, ecological environment, and general public. Obligations to the environment and public
Slotting Allowance	Payments made by manufacturers to retailers in exchange for securing shelf spaces for their products

Created by: user-2020714

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