Chapter 4 Social Responsibility and Ethics in Marketing 1 Social Responsibility Economic Responsibility Legal Responsibility Ethical Responsibility o Marketing Ethics Principles and standards defining acceptable conduct in marketing as determined by various stakeholders including Philantropic Responsibility o Cause related marketing the practice of linking products to a particular social cause on an ongoing or short term basis o Strategic philanthropy the synergistic use of organizational core competencies and resources to address key stakeholders interests and achieve both organizational and social benefits Is the potential for the long term well being of the natural environment including all biological entities as well as the interaction among nature and individuals organizations and business strategies Is a dimension of social responsibility that involves principles and standards that define acceptable conduct in marketing Is an identifiable problem situation or opportunity requiring a choice among several actions that must be evaluated as right or wrong ethical or unethical 5 Organizational corporate culture Is a set of values beliefs goals norms and rituals that members of an organization share 6 Codes of conduct also called codes of ethics Consist of formalized rules and standards that describe what the company expects of its employees 2 Sustainability 3 Marketing ethics 4 Ethical issue
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