CHAPTER 4

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Kennesaw State University *

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Marketing

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Apr 27, 2024

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75% CHAPTER 4: CONSCIOUS MARKETING Elena is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm’s shareholders and sees no value in corporate social responsibility. Elena’s attitude is consistent with the views of other critics of corporate social responsibility. When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups stakeholders Conscious marketing encompasses which of the following overriding principles? The presence of corporate leadership, creating a corporate culture. According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders’ expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes ________ performance economic, social, and environmental Which of the following statements regarding corporate social responsibility is true? A firm’s responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders. Ironically, while the leaders of Enron Corporation were manipulating the company’s finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices but was also demonstrating corporate social responsibility. How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees? It can adhere to government-mandated safety standards in the workplace. When companies embrace ________, they appeal not only to their shareholders but also to all of their key stakeholders. conscious marketing Walmart donates more than $1 billion in cash and in-kind items to charitable causes every year. This form of social responsibility most directly impacts Vikram’s company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed? Mplementation During the ________ phase of the strategic marketing planning process, marketers utilize systems to check whether each conscious marketing issue raised in earlier phases was addressed. Control If Martine decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations? PLANNING
To avoid having ethical situations become problematic for a firm, the short-term goals of each employee must be aligned with the long-term goals of the firm. When making decisions, managers often have to decide between doing what is beneficial for themselves (and possibly the firm) in the short run and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm must state its long-term goals in general terms, so as to not interfere with managers’ short-term goals. Binder & Sons is considering buying out a competing firm and closing most of the competitor’s factories. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives, and then chose a course of action. If the managers are not confident about the decision, they should reexamine their alternatives. Imagine the use (or misuse) of data collected from consumers by a marketing research firm. One of the issues that might arise is the way the data are collected. At what step in the framework for ethical decision making would this issue be identified by the marketing research firm? Step 1—identifying issues The ethical decision-making metric poses which of the following questions? Would I want to see this action described on the front page of the local paper? After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluating alternatives. ________ then review and refine these alternatives and choose a course of action. All stakeholders Kenisha’s company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that seems best after weighing the concerns of all stakeholders. In the ethical decision-making metric, the question that asks, “Would I want the person I admire most to see me doing this?” applies to the moral mentor test.
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