CHAPTER 4 - Chapter 4 Ethical and Social Responsibility in Marketing Nature and Significance of Marketing Ethics Ethics the moral principles and

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Chapter 4: Ethical and Social Responsibility in Marketing Nature and Significance of Marketing Ethics: Ethics : the moral principles and values that govern the actions and decisions of an individual or group. Serve as guidelines on how to act rightly and justly when faced with moral dilemmas. Ethical/Legal Framework in Marketing: o Laws : society’s values and standards that are enforceable in the courts. o Fine line between ethics and law. o Judgment plays a large role in situations. Current Perceptions of Ethical Behavior: o There has been a public outcry about the ethical practices of businesspeople; 90% think white-collar crime is “very common” or “somewhat common” etc. o Advertising practitioners, telemarketers, and care salespeople are thought to be among the least ethical occupations. o Four reasons for this perceived notion: 1. Increased pressure on businesspeople to make decisions in society characterized by diverse value systems. 2. There is a growing tendency for business decision to be judged publicly by groups with different values and interests. 3. The public’s expectations of ethical business behavior have increased. 4. Ethical business conduct may have declined. Ethical Marketing Behavior: Societal Culture and Norms o Culture : a set of values, ideas and attitudes that are learned and shared among the members of a group. o Moral standards are relative to particular societies; can create ethical dilemmas. o Societal values and attitudes also affect ethical and legal relationships among individuals, groups, and business institutions and organizations. Business Culture and Industry Practices o Business cultures “comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.” o Ethics of exchange: Ethical exchanges between sellers and buyers should result in both parties being better off after a transaction. Caveat emptor
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This note was uploaded on 10/04/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Spring '08 term at Virginia Tech.

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CHAPTER 4 - Chapter 4 Ethical and Social Responsibility in Marketing Nature and Significance of Marketing Ethics Ethics the moral principles and

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