ADM2320X summer 2008-ch 4

ADM2320X summer 2008-ch 4 - Ethics and Social...

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1 Ethics and Social Responsibility in Marketing Chapter Four
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2 Goal is to make quality products while acting in an ethical and socially responsible manner New Era Marketing: business ethics should guide a firm’s behaviour as regards: What goes into a product How a product is deposed
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3 Definition of Ethics The moral principles and values that govern the actions and decisions of an individual or group. Ethics serve as guidelines on how to act correctly and justly when faced with moral dilemma. Marketing managers apply moral principles and values when making marketing decisions.
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4 Ethical vs. legal framework Ethics deals with personal & moral principles & values (honesty, fairness) Laws are society’s values & standards that are enforceable in the courts
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5 Classifying marketing decisions according to Ethical-illegal Ethical-legal Unethical-illegal Unethical-legal
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6 Factors that influence ethical marketing behaviour Culture incorporates set of values, ideas, and attitudes that are learned and shared among members of a group Culture is a socializing force that dictates what is morally right and just Moral standards reflect laws and regulations that affect social and economic behaviour
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7 Morally wrong activities Restraint of trade Price fixing Deceptive practices, misleading advertising Manufacturing and selling unsafe products Unauthorized use of another’s intellectual property Bribery
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8 Business cultures comprise the effective rules of the game, the boundaries between competitive and unethical behaviour, and the codes of conduct in business dealings. Ethical exchanges are exchanges between buyer & seller where both parties benefit
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9 Consumer rights Caveat emptor: Let the buyer beware; onus is on the consumer to exercise due care in purchase and consumption of a good Current consumer rights include: Right to be safe from harmful products Right to be informed and have personal information protected from unauthorized non-disclosure to third parties Right to choose Right to be heard
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10 Consumerism Consumers’ Association of Canada Inform & educate consumers; advocacy Consumers Council of Canada http://www.consumerscouncil.com/corporatememb.htm Consumer rights:
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ADM2320X summer 2008-ch 4 - Ethics and Social...

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