chapter 3 - LO1) Marketers are concerned with ethics...

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LO1) Marketers are concerned with ethics because their behavior and values are what keeps their relationships with their customers. Marketer relay on the constant business from consumers, and having a trustworthy relationship with them, is what makes them loyal. A good example besides the obvious, Enron, would have to be Martha Stewart. Her ethics became tainted when she sold her shares of her own stock, with having prior knowledge that the cost of the stock was going to decline. Aside from that being a federal defense, her credibility to her followers was no longer as strong as it once was. She had ruined her squeaky clean image, and basically threw her customers under a bus to ensure she got her share of the money before anyone else did. This example shows that sometimes someone’s views on a subject might not be ethical, or beneficial to their consumers. LO2) For a firm to be considered socially responsible, they must make decisions that benefit the community, not just those invested in the company. A firm can be socially responsible by donating to charities, but still have questionable business ethics. This can also go the other way, where they operate very ethically, but do not involve themselves to the outside community. The benefit of being socially responsible shows consumers that a company has good morals, and is doing something to help ‘them’. It might not be a
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This note was uploaded on 10/18/2010 for the course BM 110 taught by Professor Arthur during the Spring '08 term at Mohawk Valley Community College.

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chapter 3 - LO1) Marketers are concerned with ethics...

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