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solomon03_media - MARKETING Real People Real Choices Fourth...

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CHAPTER 3 Think Globally/ Act Ethically M A R K E T I N G Real People, Real Choices Fourth Edition Michael R. Solomon Greg W. Marshall Elnora W. Stuart
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3-2 Chapter Objectives_1 Understand business ethics and why it is important for organizations to adhere to ethical business behavior Explain how marketers apply ethical business behavior to the marketing mix Describe how firms practice social responsibility
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3-3 Chapter Objectives_2 Understand the big picture of international marketing: trade flows, how firms define the scope of their markets, and how firms develop a competitive advantage in global marketing Understand how economic, political, legal, and cultural issues influence global marketing strategies and outcomes
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3-4 Chapter Objectives_3 Explain the strategies a firm can use to enter global markets Understand the arguments for standardization versus localization of marketing strategies in global markets, and understand how elements of the marketing mix apply to foreign countries
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3-5 What do these firms have in common?
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3-6 Doing it Right Ethics are rules of conduct Business ethics are basic values that guide a firm’s behavior Codes of ethics are written standards of behavior Issues addressed include bribery, political contributions, equal employment opportunity, environment, health, safety, etc. Figure 3.1 provides the AMA code of ethics
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3-7 The Consumer Bill of Rights President John F. Kennedy outlines in his 1961 inaugural speech what came to be known as the Consumer Bill of Rights: The right to be safe The right to be informed The right to be heard The right to choose freely
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3-8 Consumer Product Safety Commission This product was recalled when a risk of electrocution was discovered
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3-9 Ethics in the Marketing Mix Making a product safe Pricing the product fairly Promoting the product ethically Puffery versus deceptive advertising Firms found guilty for deceptive advertising by the FTC may be fined and required to run corrective advertising Making the product available ethically slotting allowances
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3-10 Social Responsibility Management philosophy in which organizations engage in activities that have a positive effect on society and promote the public good Tools of social responsibility environmental stewardship cause marketing cultural diversity Video : NFL’s commitment to social responsibility
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3-11 Corporate Citizenship Fannie Mae Proctor & Gamble Intel St. Paul Green Mountain Coffee Roasters
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