Because businesses must now market their products to a consumer base with many

Because businesses must now market their products to

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Because businesses must now market their products to a consumer base with many racial and ethnic identities, in-depth marketing research that allows an accurate understanding of each culture is essential. Understand ethical behavior in marketing o Societal culture and norms, business cultures and industry practices, and corporate culture and expectations all combine to influence a person’s moral philosophy and ethical behavior Identify factors (e.g., societal, business and corporate culture) and moral philosophies (e.g., moral idealism and utilitarianism) that influence ethical and unethical marketing decisions o Business Cultures- compromise the effective rules of the game, the boundaries between competitive and unethical behavior and the codes of conduct in business dealings o Social Responsibility- refers to obligations that organizations have (1) to the preservation of the ecological environment and (2) to the general public. o Corporate Culture- the set of values, ideas, and attitudes that is learned and shared among the members of an organization o Moral Idealism- a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. Ex: when scotch guard ingredients had the possibility of making only a few people sick they still took it off the shelf. o Utilitarianism - personal moral philosophy that focuses on "the greatest good for the greatest amount of people" by assessing the costs and benefits of the consequences of ethical behavior..If the benefits exceed the cost then the behavior is ethical. If not the behavior is unethical. 3
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Be able to differentiate between what is ethical and what is legal o Ethics: moral principles and values that govern the actions and decisions of an individual or group o Laws: society’s values and standards that are enforceable in the courts Understand the various components of social responsibility o Social Responsibility means that organizations are part of a larger society and are accountable to that society for their actions Be aware of some of the different types or manifestations of societal responsibility (e.g., green marketing, cause marketing) o Green marketing: marketing efforts to produce, promote, and reclaim environmentally sensitive products o Cause Marketing: charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products Chapter 4: Understanding Consumer Behavior Know and understand the purchase decision process model (e.g. various stages and what occurs during each stage) 1) Problem Recognition (perceiving a need) a) perceiving a difference between a person’s ideal and actual situations big enough to trigger a decision 2) Information Search (seeking value) a) Internal search-scanning your memory for previous experiences with products or brands b) External search-needed when past experience or knowledge is insufficient 3) Alternative Evaluation (assessing value) a) Evaluative criteria b)
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  • Spring '08
  • Murdock
  • Marketing

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