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22 Cards in this Set
- Front
- Back
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Corporate social responsibility
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Business Concern for society's welfare.
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Sustainability
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The idea that socially responsivle companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time.
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Pyramid of corporate social responsibility
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A model that suggests corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firm's economic performance supports the entire structure.
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Ethics
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The moral principles or values that generally govern the conduct of an individual or group
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Morals
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The rules people develop as a result of cultural values and norms.
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Code of Ethics
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A guideline to help marketing managers and other employees make better decisions.
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Target market
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A defined group most likely to buy a firm's products.
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Environmental Management
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When a company implements strategies that attempt to shape the external environment within which it operates.
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Component Lifestyles
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The practice of choosing goods and services that meet one's divers needs and interest rather than conforming to a single, traditional lifestyle.
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Demography
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The study of people's vital statistics, such as age, race, ethnicity, and location.
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Generation Y
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People born between 1979 and 1994
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Generation X
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People born between 1965 and 1978
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Baby Boomers
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People born between 1946 and 1964
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Multiculturalism
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When all major ethnic groups in an area - such as a city, county, or census tract - are roughly equally represented
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Purchasing Power
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A comparison of income versus the relative cost of a set of standard goods and services in difference geographic areas.
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Inflation
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A measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
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Recession
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A period of economic activity characterized by negative growth, which reduces demand for goods and services.
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Basic Research
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Pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon.
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Applied Research
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An attempt to develop now or improved products.
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Food and Drug Administration (FDA)
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A federal agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products.
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Consumer Product Safety Commission (CPSC)
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A federal agency established to protect the health and safety of consumers in and around their homes.
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Federal Trade Commission (FTC)
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A federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce.
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