MKT 100 Lecture Notes - Lecture 8: Corporate Social Responsibility, Marketing Ethics, False Advertising

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hamed Mehrabi

Document Summary

Ethics: (cid:858)the (cid:373)oral pri(cid:374)ciples a(cid:374)d (cid:448)alues that go(cid:448)er(cid:374) the actio(cid:374)s a(cid:374)d decisio(cid:374)s of a(cid:374) i(cid:374)di(cid:448)idual or group(cid:859) Mean different things to different people i(cid:374) differe(cid:374)t co(cid:374)te(cid:454)ts . (cid:858)ser(cid:448)e as guideli(cid:374)es o(cid:374) ho(cid:449) to act rightl(cid:455) a(cid:374)d justl(cid:455) (cid:449)he(cid:374) faced (cid:449)ith (cid:373)oral dile(cid:373)(cid:373)as(cid:859) Business ethics: broader then marketing ethics; refer to the rules, principles, morals that relate to commercial setting. Marketing ethics: issues specific to the domain of marketing (consumers, environment, society) Ethical issues unique to marketing: advertising to kids, has purposes to exploit consumer information, false advertising. Marketers engage in activities not appealing to consumers, people feel like their pushing their belief on them in regards to advertising, marketing is the visible part of the business. Advertise the positive aspects of the business, being crystal clear about everything including the product. Decisions often have conflicting outcomes where both options have positive and negative consequences. Acting ethically can lead to loss of profit, loss of employees, loss of sales.