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MKT 2210
Subbu Sivaramakrishnan

ultimately, ethical choices are based on the personal moral philosophy of the decision-maker. moral philosophies are of two types: 1. moral idealism. moral idealism is a personal moral philosophy that considers certain individual rights or duties as universal regardless of outcome. this philosophy exists in the consumer bill of rights. 1. utilitarianism. utilitarianism is a personal moral philosophy that focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behaviour. this philosophy underlies the economic tenets of capitalism. understanding social responsibility in marketing. A. concepts of social responsibility social responsibility means that organizations are part of a larger society and are accountable to that society for their actions. three social responsibility concepts exist: 1. profit responsibility. profit responsibility holds that companies have a duty to maximize profits for their owners or stockholders. 2. stakeholder responsibility. stakeholder responsibility focuses on the obligations an organization has to those who can affect achievement of its objectives. these includes customers, employees, suppliers and distributors. 3. societal responsibility. societal responsibility refers to obligations that organizations have to the (1) preservation of the ecological environment and (2) general public. two marketing practices reflect socially responsible behaviour: a. green marketing represents marketing efforts to produce, promote, and reclaim environmentally sensitive products. iso 14001 consists of worldwide standards for environmental quality and green marketing practices. b. cause marketing occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products. B. the social audit the social audit is a systematic assessment of a firm's objectives, strategies, and performance in the domain of social responsibility. it consists of five steps. 1. recognition of a firm's social expectations and the rationale for engaging in social responsibility endeavours. 2. identification of social responsibility causes or programs consistent with the
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