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21 Cards in this Set
- Front
- Back
define social responsibility
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collection of marketing philosophies, policies, procedures and actions, intended to enhance society's welfare
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Marketing's social responsibilties
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1)strive to be effective and efficient
2)behave ethically 3)obey the law 4)help market good causes |
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Marketing's social responsibilties:
1) strive to be effective and efficient - effectiveness |
quality of products
market share profitability |
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Marketing's social responsibilties:
1) strive to be effective and efficient -efficiency |
response speed
low costs (economies of scale) |
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Marketing's social responsibilties:
1) strive to be effective and efficient -problems? |
1) too many undeeded products are marketed that fail
2) too many unneeded products are marketed that succeed *planned obsolencence 3) market distribution systems are inefficient 4) a lot of advertising is wasteful expenditure *inefficient targeting |
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*planned obsolencence
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creating products that are known to be outdated in the future
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Marketing's social responsibilties:
3) obey the law |
political and legal forces impact the marketing environment to which the marketer must adapt
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Marketing's social responsibilties:
4) help market good causes |
encourage its use in the promotion of worthy public causes
* cause-related marketing |
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What is Cause Related Marketing?
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includes those activitied that *governments
*public service organizations *companies *individuals undertake to encourage target consumer participation in socially redeeming programs -educational campaigns -provide free/low-priced services at convenient times and places |
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Marketer's self-interested, unintended consequences on supply
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tragedy of the commons/
supply side market failure |
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tragedy of the commons/
supply side market failure |
producer: unintended harmful effect
supplier: unintended destructive effects to overall supply |
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Marketer's self-interested, unintended consequences on demand
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Demand-side market failure
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Demand-side market failure
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-Advertisments have negative impact on values of buyers and demand for products
-biggest criticism of advertising "unrealistic standards of beauty" |
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Marketing Social reponsibilities:
2) behave ethically |
-conduct business in an ethical manner
-most live up to this responsibility, but some do not |
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Personal code of ethics
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-general terms leave specific interpretation up to the implementation of marketing strategy
-American Marketing Association developed a code of ethics that marketing professionals turn to |
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Theories of Marketing ethics (4)
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1.social contract
2.principle of utility 3.categorical imperative 4.situational ethics |
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Theories of Marketing ethics
1. social contract |
morality accepted by all
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Theories of Marketing ethics
2. principle of utility |
"ethical behavior" = behavior that produces the most good for the most people in a specific situation
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Theories of Marketing ethics
3. categorical imperative |
would it be right if everyone did it?
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Theories of Marketing ethics
4. situational ethics |
right and wrong are determined by the specific situation
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personal ethical choices
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ethical vigilance: asking yourself the "hard questions"
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