Principles of Marketing Chapter 4 Vocab

gross domestic product
measures the total dollar value of goods and services a country produces within a given year
society
a community, nation, or group that shares common traditions, institutions, activities, and interests
nongovernmental organizations
groups of private individuals who monitor the behavior of marketers or governments
boycotts
happen when consumers refuse to do business with a company or nation in order to signal their disapproval of its actions and encourage change
consumerism
organized efforts on the part of consumer groups or governments to improve the rights and power of buyers in relation to sellers
environmental sustainability
achieving financial objectives while promoting the long-term well-being of the earth
environmentalism
an organized movement of citizens, businesses, and government agencies to protect and improve our living environment
green marketing
marketing efforts to produce more environmentally responsible products and services
organic food
foods grown naturally without the use of pesticides or synthetic fertilizers
culture
the shared values, beliefs, and preferences of a particular society
laws
rules of conduct or action prescribed by an authority, or the binding customs or practices of a community
exaggerated claims
extravagant statements made in advertising, either explicitly or implicitly, that have no substantiation or reasonable basis in truth
puffery
claims of product superiority that cannot be proven as true or false
regulations
rules or orders issued by an official government agency with proper authority and which carry the force of law
social responsibility
a concern for how a person’s actions might affect the interest of others
corporate social responsibility
a philosophy that encourages decision makers to take into account the social consequences of their businesses actions
ethics
a system of moral principles and values, as well as moral duties or obligations
marketing ethics
rules for evaluating marketing decisions and actions based on marketers’ duties or obligations to society
social marketing concept
asserts that marketing techniques may be employed for more than selling things and making a profit
sustainability
a term used to describe practices that combine economic growth with careful stewardship of our natural resources and the environment