MKT Ch.3

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  1. 6 modes of social control. (ELFSMA)
    • 1. Ethics
    • 2. Laws
    • 3. Formal/Informal groups
    • 4. Self-regulation
    • 5. Media
    • 6. Active civil society
  2. The moral principles or values that generally govern the conduct of an individual or a group.
    Ethical behavior
  3. 5 ethical theories. (DUCMV)
    • 1. Deontology
    • 2. Utilitarianism
    • 3. Casuist
    • 4. Moral Relativists
    • 5. Virtue ethics
  4. Ethical theory that involves doing your duty, even if others are hurt in the process.
  5. Ethical theory that involves doing what brings about the best outcome for the most people.
  6. Ethical theory that involves drawing on examples of similar dilemmas to determine actions.
  7. Ethical theory that involves doing what is right given the circumstance (no absolute truths).
    Moral relativist
  8. Ethical theory that involves developing a set of virtues and using them to solve ethical dilemmas.
    Virtue ethics
  9. The moral principles or values that generally govern the conduct of an individual.
  10. The rules people develop as a result of cultural values and norms.
  11. Morals involve “...” and “...” as well as “...”  behaviors.
    good, bad, deviant
  12. 8 factors of ethical decision making. (ETAPSPTN)
    • 1. Extent of problems
    • 2. Top management
    • 3. Actions
    • 4. Potential consequences
    • 5. Social consensus
    • 6. Probability of harm
    • 7. Time until consequences
    • 8. Number affected
  13. A code of ethics helps identify...
    acceptable business practices.
  14. A code of ethics helps control...
    behavior internally.
  15. A code of ethics avoids...
    confusion in decision making.
  16. A code of ethics facilitates discussion about...
    right and wrong.
  17. A business’s concern for society’s welfare.
    Corporate social responsibility
  18. The stakeholder theory says that social responsibility is paying attention to the... in... aspect of a firm’s operation.
    interest of every affected stakeholder, every
  19. 4 responsibilities of a corporation. (ELEP)
    • 1. Economic responsibility
    • 2. Legal responsibility
    • 3. Ethical responsibility
    • 4. Philanthropic responsibility
  20. 4 arguments that are pro-corporate social responsibility. (RBPC)
    • 1. Right thing to do
    • 2. Businesses have resources
    • 3. Prevents government regulation/fines
    • 4. Can be profitable
  21. 2 arguments that are anti-corporate social responsibility. (TE)
    • 1. Takes focus away from making profits
    • 2. Executives spend shareholder money
  22. Socially responsible companies will outperform...
    their peers.
  23. It is in business’s best interest to find ways to attack...
    society's ills.
  24. The development and marketing of products designed to minimize negative effects on the environment or improve the environment.
    Green marketing
  25. Environmentally-aware customers pay... for products.
  26. Companies must try to educate customers of...
    environmental benefits.
  27. Marketing involved when for-profit and non-profit organizations cooperate to generate funds.
    Cause-related marketing
  28. Cause-related marketing generates about $... annually.
    7 billion
  29. Regarding cause-related marketing, too many causes lead to...
    customer cause fatigue.
Card Set:
MKT Ch.3
2015-09-24 15:33:56

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