BUS 223 Chapter Notes - Chapter 8: Implied Warranty, Price Gouging, Marketing Ethics
15 Jan 2019
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Bus 223 - chapter 8: ethics & marketing pp. Marketing an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in way that benefit the organization and its stakeholders. Market exchange is prima facie ethically legitimate because of respect for autonomy and mutual benefit. Cavaet emptor approach buy beware, assumes every consumer is informed. Have their own responsibility to look out for their best interests and safety. Business"s only legal and ethical responsibility is to provide a good or service at an agreed upon price. The only duties that a person has are those freely taken on within a social contract. Individual contracts and promises are the bases of ethical duties. Sellers have a duty not to coerce, defraud, or deceive buyers. Implied warranty of merchantability implied assurances by a seller that a product is reasonably suitable for its purpose.
