the moral principles and values that govern the actions and decisions of an individual or group.

society’s values and standards that are enforceable in the courts.

the legal concept of “let the buyer beware” that was pervasive in the American business culture before the 1960s.

The Consumer Bill of Rights (1962)

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

the clandestine collection of trade secrets or proprietary information about a company’s competitors.

a formal statement of ethical principles and rules of conduct.

employees who report unethical or illegal actions of their employers.

a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.

a personal moral philosophy that focuses on the “greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.

Social responsibility

the idea that organizations are part of a larger society and are accountable to that society for their actions.

the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.

marketing efforts to produce, promote, and reclaim environmentally sensitive products.

when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products.

Sustainable marketing

the effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for future generations to meet theirs.

a systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility.

Sustainable development

involves conducting business in a way that protects the natural environment while making economic progress.

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Marketing Chp. 4

Vocab

Term	Definition
Ethics	the moral principles and values that govern the actions and decisions of an individual or group.
Laws	society’s values and standards that are enforceable in the courts.
Caveat emptor	the legal concept of “let the buyer beware” that was pervasive in the American business culture before the 1960s.
The Consumer Bill of Rights (1962)	a law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard.
Economic espionage	the clandestine collection of trade secrets or proprietary information about a company’s competitors.
code of ethics	a formal statement of ethical principles and rules of conduct.
Whistle-blowers	employees who report unethical or illegal actions of their employers.
Moral idealism	a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.
Utilitarianism	a personal moral philosophy that focuses on the “greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.
Social responsibility	the idea that organizations are part of a larger society and are accountable to that society for their actions.
triple bottom line	the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
Green marketing	marketing efforts to produce, promote, and reclaim environmentally sensitive products.
Cause marketing	when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products.
Sustainable marketing	the effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for future generations to meet theirs.
social audit	a systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility.
Sustainable development	involves conducting business in a way that protects the natural environment while making economic progress.

Created by: Rick Dawson

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