Ethics Notes

Ethics Notes - 1 Consumer has right to safety to be...

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Ethics Know ethical pyramid (Bottom is purpose – Be profitable, etc) Product - Planned obsolescence - Products that are “unhealthy” Place - Is there an obligation to serve unsatisfied segments, even if limited profit? Price - What is “reasonable” profit? Promotion - How much “puffery” is ok? Framework for Decision Making I. Decision a. Societal Norms i. Basic set of values of the society ii. The AJC test b. General Business Norms i. Basic business values
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Unformatted text preview: 1. Consumer has right to safety, to be informed, to choose, and to be heard 2. No longer caveat emptor (“buyer beware”) 3. First, do no harm 4. Foster trust and consumer confidence in the marketing system c. Company Norms i. AMA Code of ethics ii. National Association of realtors code of ethics d. Personal Norms/Values For Tuesday – Read and know LO5, 6, and 7 from pages 34-40...
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