Chapter 4 Notes - Chapter 4 Notes Ethics and Social...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 4 Notes Ethics and Social Responsibility in Marketing Nature and Significance of Marketing Ethics Ethics: moral principles and values that govern the actions and decisions of an individual or group. Ethical/Legal Framework in Marketing Laws: society’s standards and values that are enforceable in court. Current Perceptions of Ethical Behavior Advertisers, telemarketers, car salespeople are thought to be among the least ethical occupations. Three possible reasons for the state of business ethics: o Increased pressure on businesspeople to make decisions in a society characterized by diverse value systems. o There is a growing tendency for business decisions to be judged publicly by groups with different values and interests. o Ethical business conduct may have declined. Understanding Ethical Marketing Behavior Societal Culture and Norms Culture refers to a set of values, ideas, and attitudes that are learned and shared among member of a group. o Also serves as a socializing force that dictates what is morally right and wrong. o Societal values and attitudes also affect ethical and legal relationships among individuals, groups, and business institutions and organizations. Business Culture and Industry Practices Business culture “comprises the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.” Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the competitive behavior among sellers. Ethics of Exchange Ethical exchanges between sellers and buyers should result in both parties being better off after a transaction.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern