Mar-3023 Lecture Notes - Lecture 4: Consumerism, Corporate Social Responsibility, Root Mean Square

16 views2 pages
12 Sep 2017
School
Department
Course
Professor
Basic Marketing Concepts
Corporate Social Responsibility
So which is it? Save the planet or make money?
Social Responsibility
-Is an organization’s obligation to maximize its positive impact and minimize its negative
impact on society
-Can generate positive publicity
-Promotes goodwill
-Attracts potential customers and employees
-Generates indirect long term benefits such as greater employee commitment and improved
business performance.
Dimensions of Social Responsibility
-Socially responsible firms strive for marketing citizenship
-Marketing citizenship is accomplished when a firm fulfills the economic, legal, ethical and
philanthropic social responsibilities expected by stakeholders.
Economic Responsibility
-At the most basic level, all companies have an economic responsibility to be profitable so
they can
-Provide a return on investment to their owners and investors
-Create jobs for the community
-Contribute goods and services to the economy
Legal Responsibility
-Marketers are expected to follow all laws and regulations designed to keep US companies’
actions within the range of acceptable conduct and fair competition
-Economic and legal responsibilities
Ethical Responsibility
-Marketing Ethics are principles and standards defining acceptable conduct in marketing as
determined by various stakeholders including
-The public
-Government regulators
-Private-interest groups
-Consumers
-Industry
-The organization itself
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows half of the first page of the document.
Unlock all 2 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
1 Booster Class
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Class Notes
Textbook Notes
30 Verified Answers
Study Guides
1 Booster Class