MARK 3000 Chapter Notes - Chapter 4: Corporate Social Responsibility, Caveat Emptor, Mirror Test

• School: University of Georgia
• Department: Marketing
• Course: MARK 3000
• Professor: Grantham

Document Summary

Ethics: moral principles and values that govern actions. Laws: so(cid:272)iety"s (cid:448)alues (cid:449)hi(cid:272)h are e(cid:374)for(cid:272)ea(cid:271)le i(cid:374) (cid:272)ourt. Business ethics: refers to moral or ethical dilemmas that might arise in a business setting; examines ethical rules and principles. Marketing ethics: ethical problems that are specific to the domain of marketing. Deceptive advertising: representation, omission, act or practice in an advertisement that is likely to mislead consumers acting reasonable under the circumstances. Pick best alternative for all stakeholders involved, big picture. Societal (cultural) norms: basic set of values of the society, think about where youa re and what is acceptable. General business/industry: industry as a whole, what is the standard practice in business: basic business values, consumer has right to safety, to be informed, to choose and to be heard . Consumer bill of rights (jfk) leveled playing field between buyer and seller: no longer caveat emptor (buyer beware)