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Chapter 4 cards
| Term | Definition |
|---|---|
| Cause marketing | Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products. |
| Code of ethics | A formal statement of ethical principles and rules of conduct. |
| Consumer Bill of Rights (1962) | An outline presented by President John F. Kennedy in 1962 that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard. (Know list) |
| Economic espionage | The exchange of trade secrets or proprietary information about a company’s competitors. |
| ethics | The moral principles and values that govern the actions and decisions of an individual or group. |
| Green marketing | Marketing efforts to produce, promote, and reclaim environmentally sensitive products. |
| Laws | Society’s values and standards that are enforceable in the courts. |
| Moral idealism | A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. |
| Social Audit | A systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility. |
| Social responsibility | The idea that organizations are part of a larger society and are accountable to that society for their actions. |
| Sustainable development | Conducting business in a way that protects the natural environment while making economic progress. |
| sustainable marketing | The effort to meet today’s (global) economic, environmental, and social needs without compromising the opportunity for future generations to meet theirs. |
| 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. (People, planet, profit) |
| Whistle-blowers | Employees who report unethical or illegal actions of their employers. |