mkt 320 chapter 4 marketing ethics

The influences on personal ethics include:
Genetics, Family, Religion, Values.
Firm goals include:
-Greed and short term profit seeking
-Serious long term consequences
-Creating value over the long run
-Long term success.
Ethics is:
concern matters of right and wrong: the responsibility of individuals and firms to do what is morally right.
Business Ethics is:
the moral or ethical dilemmas that might arise in a business setting.
Marketing Ethics is:
marketers’ standards of conduct and moral values.
Ethics are:
the moral principles or values that generally govern the conduct of an individual.
Morals are:
the rules people develop as a result of cultural values and norms.
Creating an Ethical Climate in the Workplace include:
• Establish • Share • Understand
• Management commitment • Employee dedication
• Reward • Punishment.
A strong ethical climate requires:
a commitment from the top down within the firm.
Corporate social responsibility describes:
the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.
American Marketing Association Code of Ethics is:
-Generally accepted code in marketing
-Flows from general norms of conduct to specific values
-Sub-areas within marketing have their own code of ethics to deal with specific issues.
The Framework for Ethical Decision Making includes:
Identify Issues, Gather information and identify stakeholders, Brainstorm and evaluate alternatives, and Choose a course of action.
The Planning Phase includes:
-The mission or vision
statement sets the overall ethical tone for planning.
-Mission statements can be
used as a means to guide a firm’s SWOT analysis.
-Firms often go beyond the
mission or vision statement by including a values statement.
The Implementation Phase includes:
-Should the firm be relocating production to another country?
-Should the firm be targeting this market with this product?
-Should the firm be selling its product in this market in this manner?.
The Control Phase includes:
1. Check successful
2. React to change.
Any plan requires constant:
evaluation and revision, and this truism applies particularly to the evaluation of ethical issues.
The Link Between Ethics and Corporate Social Responsibility:
-Firms should implement programs that are socially responsible
-Employees should act in an ethically responsible manner.
Corporate Social Responsibility:
employees, customers, marketplace, society.
Social Responsibility Issues:
consumerism, natural environment, community relations.
Natural Environment:
consumers insisting not only on a good
quality of life but on a healthful environment so they can maintain a high standard of living during their lifetimes.
activities undertaken by independent individuals, groups and organizations to protect their rights as consumers.
Community Relations:
society eager to have marketers contribute to its well-being, wishing to know what marketers do to help solve social problems.
Natural Environment:
Consumers insisting not only on a good
quality of life but on a healthful environment so they can maintain a high standard of living during their lifetimes.