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52 Cards in this Set
- Front
- Back
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Least ethical occupations |
Advertising practitioners, insurance agents, telemarketers, and care sales people |
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Most ethical profession |
Nursing |
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4 reasons that the state of perceived ethic business conduct is at its present level |
1. There is increased pressure on business people to make decisions in society characterized by diverse value systems 2. There is growing tendency for business decisions to be judged publicly by groups with different values and interests 3. Public’s expectations of ethical business behavior have increased 4. Ethical business may have declined |
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4 factors that influence ethical marketing behavior |
1. Societal culture and norms 2. Business culture and industry practices 3. Corporate culture and expectations 4. Personal moral philosophy and ethical behavior |
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Manifests itself in industry and federal safety standards for most products sold in the United States |
Right to safety |
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Marketers have an obligation to give consumers complete and accurate information about products and services |
Right to be informed |
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Consumers should have access to public policy makers regarding complaints about products and services |
Right to be heard |
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Involves unethical conduct by a person entrusted with a position of authority |
Corruption |
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Set on values, ideas, and attitudes that is learned and shared among the member of an organization |
Corporate Culture |
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Provides a foundation for understanding moral behavior in business activities |
Societal Culture |
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“Comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings” |
Business culture |
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3 general norms |
1. Marketers must do no harm 2. Marketers must foster trust in the marketing system 3. Marketers must embrace, communicate, and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing exchange system |
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Reasons for violation of ethics codes |
1. Lack of specificity 2. Perceived behavior of top management and co-workers |
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3 concepts of social responsibility |
1. Profit responsibility 2. Stakeholder responsibility 3. Societal responsibility |
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Holds that companies have a simple duty: to maximize profits for their owners or stockholders |
Profit responsibility |
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Focuses on the obligations an organization has to those who can affect achievement of its objectives. |
Stakeholder responsibility |
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Refers to obligations that organizations have (1) to the preservation of the ecological environment and (2) to the general public |
Societal responsibility |
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1. Benefit from favorable word of mouth among consumers 2. Typically outperform less responsible companies in terms of financial performance |
Benefits of companies that use sustainable marketing |
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1. A belief that a consumer can get away with the act and it is worth doing 2. The rationalization that the act is justified or driven by forces outside the individual “everybody does it” |
Reasons unethical consumer behavior happens |
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1. Consumers may be unwilling to sacrifice convenience and pay higher prices to protect the environment 2. Lack the knowledge to make informed decisions dealing with the purchase, use, and disposition of products |
Reasons consumers are sensitive to ecological issues |
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The practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology, or company practice |
Greenwashing |
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Reflects interdependencies among industries, countries, and regions |
World trade flows |
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Largest region measured by world trade |
Asia |
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Worlds leading importer |
United States |
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Views exports and imports as complementary economic flows |
A global perspective on world trade |
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Imports affect exports and vice versa. Argument for free trade among nations |
Trade feedback effect |
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1. Gross domestic product 2. Balance of trade |
Two perspectives of the Role of the United States in world trade |
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Monetary value of all products and services produced in a country during one year |
Gross Domestic Product (GDP) |
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World leader of gross domestic product (gdp) |
United States |
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Has the lowest exports among industrial countries in the world |
United States |
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When a country’s exports exceed its imports |
Surplus |
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When a country’s imports exceed exports |
Deficit Results |
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4 Largest importers of United States products and services |
1. Canada, Mexico, China, Japan |
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4 largest exporters to the United States |
China, Canada, Mexico, Japan |
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Can discourage world trade. Have slowed the growth of world trade for the past decade |
Tariffs and Quotas |
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How many member countries in the world trade organization |
164 |
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What are the European Union(EU) and the United States-Mexico-Canada Agreement (USMCA) examples of |
Transnational trade groups. Signed trade agreements for the purpose of promoting free trade among member nations and enhancing their individual economies |
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Consists of 27 member countries that have eliminated most barriers to the free flow of products, services, capital, and labor across their borders. Houses 510 million consumers with a combined gross domestic product larger than the United States |
European Union (EU) |
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16 countries have a adopted a common currency called? |
Euro |
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Been a boon to electronic commerce in the EU by eliminating the need to continually monitor currency exchange rates |
Adoption of the Euro |
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Greater uniformity in product and packaging standards; Fewer regulatory restrictions on transportation, advertising, and promotion imposed by countries; Removal of most tariffs that affect pricing practices |
Why pan-European marketing strategies are possible |
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1. International Firms 2. Multinational Firms 3. Transnational Firms |
3 types of companies populate and compete in the global marketplace |
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International firms, multinational firms, and transnational firms employ people in different countries, and many have administrative, marketing and manufacturing operations |
Divisions or subsidiaries |
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Engages in trade and marketing in different countries as an extension of the marketing strategy in its home country. These firms market their products and services in other countries the same way they do in their home country |
International Firm |
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Views the world as consisting of unique parts and markets to each part differently. Use multi domestic marketing strategy |
Multinational Firm |
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Views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants rather than differences |
Transnational Firm |
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Benefits marketers by allowing them to realize economies of scale from their production and marketing activities |
Global marketing strategy |
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Focuses on the identification and pursuit of global consumers |
Global Competition |
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Who consumes or used a common assortment of products and services regardless of geographic location |
1. Global Middle-come class 2. Youth market 3. Elite segment |
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A tool for exchanging products, services, and information on a global scale. 4th development affecting globalization and world trade |
Internet Technology |
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Enables the exchange of products, services and information from sellers anywhere to buyers anywhere at any time and at a lower cost |
Networked global market space |
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Counteract the threat of economic espionage. Makes the theft of trade secrets by foreign entities a federal crime in the United States |
Economic Espionage Act (1996) |
