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22 Cards in this Set
- Front
- Back
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Federal Trade Commission (FTC)
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A federal agency that regulates marketing communications.
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Puffery
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When a firm makes an exaggerated claim about its products or services without making an overt attempt to deceive or mislead.
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Substantiation
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Firms must be able to prove or back up any claims made in their marketing communications.
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Consent order
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A directive issued when the FTC believes a violation has occurred.
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Administrative complaint
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A formal proceeding similar to a court trial held before an administrative law judge regarding a charge filed by the FTC.
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Corrective advertisements
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Ads that bring consumers back to a neutral state, so consumers once again hold beliefs they had prior to being exposed to a false or misleading advertisement.
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Trade regulation ruling
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Findings that implicate an entire industry in a case of unfair or deceptive practices.
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Morals
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Beliefs or principles that individuals hold concerning what is right and what is wrong.
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Ethics
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Moral principals that serves as guidelines for both individuals and organizations.
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Brand infringement
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Occurs when a company creates a brand name that closely resembles a popular or successful brand.
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Hedonism
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Maximizing pleasure and minimizing pain.
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Homeostasis
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The natural craving for balance.
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Law
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Governmental guidelines for what is right and wrong as well as what is acceptable and what is not within a geographic area.
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Religions
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Belief systems.
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Utilitarianism
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A means of making decisions based on what is the greatest good for the greatest number of people.
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Individualism
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The degree to which society values personal goals, personal autonomy, privacy over group loyalty, commitments to group norms, involvements in collective activities, social cohesiveness, and intense socialization.
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Rights approach
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A means of making decisions based on the belief that each person has fundamental rights that should be respected and protected.
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Justice approach
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A method of decision making based on treating all people fairly and consistently.
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Social responsibility
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The obligation of an organization has to be ethical, responsible, and responsible to the needs of members in the organization as well as the larger society.
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Invisible hand of the marketplace
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The argument that competition eliminates any product or corporate practice that is harmful and inappropriate.
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Governmental duty perspective
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The argument that government should write legislation and create regulatory agencies to emphasize ethics and social responsibility.
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Ethical (enlightened) management
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The argument that mangers can and should be trusted to create an ethical environment with an enlightened sense of employee and customer well-being.
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