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21 Cards in this Set

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  • Back
define social responsibility
collection of marketing philosophies, policies, procedures and actions, intended to enhance society's welfare
Marketing's social responsibilties
1)strive to be effective and efficient
2)behave ethically
3)obey the law
4)help market good causes
Marketing's social responsibilties:
1) strive to be effective and efficient
- effectiveness
quality of products
market share
profitability
Marketing's social responsibilties:
1) strive to be effective and efficient
-efficiency
response speed
low costs (economies of scale)
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
*planned obsolencence
creating products that are known to be outdated in the future
Marketing's social responsibilties:
3) obey the law
political and legal forces impact the marketing environment to which the marketer must adapt
Marketing's social responsibilties:
4) help market good causes
encourage its use in the promotion of worthy public causes
* cause-related marketing
What is Cause Related Marketing?
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
Marketer's self-interested, unintended consequences on supply
tragedy of the commons/
supply side market failure
tragedy of the commons/
supply side market failure
producer: unintended harmful effect

supplier: unintended destructive effects to overall supply
Marketer's self-interested, unintended consequences on demand
Demand-side market failure
Demand-side market failure
-Advertisments have negative impact on values of buyers and demand for products
-biggest criticism of advertising "unrealistic standards of beauty"
Marketing Social reponsibilities:
2) behave ethically
-conduct business in an ethical manner
-most live up to this responsibility, but some do not
Personal code of ethics
-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
Theories of Marketing ethics (4)
1.social contract
2.principle of utility
3.categorical imperative
4.situational ethics
Theories of Marketing ethics
1. social contract
morality accepted by all
Theories of Marketing ethics
2. principle of utility
"ethical behavior" = behavior that produces the most good for the most people in a specific situation
Theories of Marketing ethics
3. categorical imperative
would it be right if everyone did it?
Theories of Marketing ethics
4. situational ethics
right and wrong are determined by the specific situation
personal ethical choices
ethical vigilance: asking yourself the "hard questions"