MKT 291-FINAL REVIEW

MKT 291-FINAL REVIEW - CHAPTER 3 (p.67-68): TECHNOLOGICAL...

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CHAPTER 3 (p.67-68): TECHNOLOGICAL FORCES Technology: inventions from applied science or engineering research Marketspace: information and communication based electronic exchange environment occupied by digitized offerings o Electronic Commerce: any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services o Intranet: internet-based network used within the boundaries of an organization private o Extranet: permit communication between a company and its supplier, distributors, and other partners CHAPTER 4: ETHICAL 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 Laws: society’s standards and values that are enforceable in the courts Understanding Ethical Marketing Behavior Societal Culture and Norms: Culture: set of values, ideas, and attitudes that are learned and shared among members of a group o Serves as a socializing force that dictates what is morally right Business Culture and Industry Practices: Business Cultures: comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings Ethics of Exchange: should result in both parties being better off o Caveat Emptor: “let the buyer beware” o Consumer Bill or Rights: codified the ethics of exchange between buyers and sellers, including: The Right to Safety: safety standards must be met The Right to be Informed : must give customers complete and accurate information about products and services Children’s Online Privacy Protection Act (1998) The Right to Choose: demand “slotting allowances” in the form of cash or free goods to stock new products The Right to be Heard: consumers should have access to public-policy makers regarding complaints about goods/services Telephone Consumer Protection Act (1991) Ethics of Competition: o Economic Espionage: clandestine collection of trade secrets or proprietary information about a company’s competitors More common in high-technology industries o Bribery and Kickbacks: usually disguised as gifts, consultant fees, and favors More common in B2B and government marketing Corporate Culture and Expectations: Corporate Culture: reflects the shared values, beliefs, and purpose of employees that affect individual and group behavior Code of Ethics: formal statement of ethical principles and rules of conduct o Rarely enough to ensure ethical behavior Reasons Ethics Codes are Violated: 1. Lack of Specificity
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2. Perceived Behavior of Top Management and Co-Workers Whistle-blowers: employees who report unethical or illegal actions of their employees (laws protect them) Your Personal Moral Philosophy and Ethical Behavior: two prominent personal moral philosophies have direct bearing on market practice:
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MKT 291-FINAL REVIEW - CHAPTER 3 (p.67-68): TECHNOLOGICAL...

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