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Lecture 7

MKT 100 Lecture 7: Week 3 Audio File Notes

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MKT 100
Yanina Chevtchouk

Ethics (Video 1) • Legal VS Ethical o Laws and regulations are developed by society to define what behaviour and attitudes will be tolerated and not tolerated. ▪ If a person engages in behaviours that are against the law, the law includes penalty- placed to stop people from doing it in the first place ▪ Ticket price if speeding. Purpose of this is so people don’t do it again ▪ Insurance will raise if you have a certain amount of speeding tickets o Ethical – culturally determined ▪ Bribes is not ethical in business ▪ In other countries, it’s a common practice o Ex: Smoking Marijuana – illegal according to law ▪ But can be purchased by law to help sick people • Is that ethical or unethical even though its illegal • Philosophical Perspectives o Utilitarianism ▪ Suggests a decision that provides the greatest good for the good-est number is the best decision ▪ Democracy- party with most votes gets to implement their policies o Categorical Imperative ▪ “What if everyone did this” ? ▪ Everyone acting in their own interest ▪ What if all marketers used deceptive advertising to promote their products? • Corporate Social Responsibility- this is about companies behaving legally and ethically o Nike changed its manufacturing process when it found out its shoes are made by child labour in Asia (legal) but Nike didn’t find it ethical o Rogers use to do negative billing so people who didn’t end contract would still get charged o How companies contribute to communities and society Companies need to be involved: o Donors- ▪ companies that write checks to support worthy causes ▪ Unplanned ▪ Reactive to external threat ▪ If entire company burns down, the company might contribute to community projects o Sponsors- ▪ Cause related marketing ▪ Motivated by desire to create good will ▪ Canadian tire is sponsor of Olympics after purchasing Sport chek o Partners ▪ Part of strategic plan ▪ Full partners will community organizations ▪ Projects has to do with making society better opposing to selling more products ▪ CIBC run for cures – doesn’t have to do with financial organizations, non-for profit Marketing Research Data Collection- (Video 2) • MIS (management information System) o Internal info specific to the company o Source from its management information system o Data bank contains info related to overall operation of company (sales, inventory, Hr
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