Ch17 Review

Marketing ethics examines ethical situations that are specific to the domain of marketing, including societal, global, or individual consumer issues. >>Ways in which ethics manifest in an organization > Personal ethics - Cultural upbringing - Pursuing self-interest vs. the interest of others > Organizational Ethics (Ethical climate) - Values - Commitment - Controls (Top Management - Middle Management- Rest of the employees) >>Framework for ethical decision making 1. identify issues 2. gather information and identify stakeholders 3. brainstorm and evaluate alternatives 4. choose a course of action >>Integrating ethics into marketing strategy 1. Planning Phase 2. Implementation Phase 3. Control Phase >>Corporate social responsibility (CSR) CSR is the voluntary action taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders. >>Ethics vs. Corporate Social Responsibility (Image) >>Who is impacted by CSR initiatives? - Environment - Employees - Customers - Marketplace - Society >>Employees Benefits focused on well-being and productivity (Stakeholders Impacted by CSR)
>>Customers Protection of privacy (Stakeholders Impacted by CSR) >>Marketplace - Gain advantage and reputation vis CSR practices - Leads the industry, influences partners and competitors to follow suit (Stakeholders Impacted by CSR) >>Society - Societal demands to the firms - Act as the greater outside stakeholders (Stakeholders Impacted by CSR) >>Environment: Overall environmental impact (Stakeholders Impacted by CSR) >>
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