Podcast
Questions and Answers
What is a major issue resulting from the lack of supermarkets in low-income areas?
What is a major issue resulting from the lack of supermarkets in low-income areas?
What practice do national chain retailers sometimes engage in that negatively affects poor neighborhoods?
What practice do national chain retailers sometimes engage in that negatively affects poor neighborhoods?
Which group is often seen as being irresponsibly targeted in marketing campaigns?
Which group is often seen as being irresponsibly targeted in marketing campaigns?
How is the marketing system often critiqued in terms of consumer behavior?
How is the marketing system often critiqued in terms of consumer behavior?
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What defense do consumers have against advertising according to the marketing system's critics?
What defense do consumers have against advertising according to the marketing system's critics?
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What term describes the negative influence of marketing on societal values, leading to a focus on material possessions?
What term describes the negative influence of marketing on societal values, leading to a focus on material possessions?
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What aspect of marketing tends to reinforce social inequalities in access to goods?
What aspect of marketing tends to reinforce social inequalities in access to goods?
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What can be a result of the high failure rate of new products in the market?
What can be a result of the high failure rate of new products in the market?
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What is a key difference between Conscious Marketing and Corporate Social Responsibility?
What is a key difference between Conscious Marketing and Corporate Social Responsibility?
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What is a primary focus of corporate social responsibility in marketing?
What is a primary focus of corporate social responsibility in marketing?
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How does Conscious Marketing view the relationship between business and society?
How does Conscious Marketing view the relationship between business and society?
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Which of the following is NOT a common criticism of marketing on consumers?
Which of the following is NOT a common criticism of marketing on consumers?
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In the context of ethical decision-making, what is the second step?
In the context of ethical decision-making, what is the second step?
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What constitutes vertical price fixing in marketing?
What constitutes vertical price fixing in marketing?
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What primarily differentiates the framework of Corporate Social Responsibility from Conscious Marketing?
What primarily differentiates the framework of Corporate Social Responsibility from Conscious Marketing?
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Which of the following describes an ethical firm within the context provided?
Which of the following describes an ethical firm within the context provided?
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Which of the following best aligns with the conscious marketing principles?
Which of the following best aligns with the conscious marketing principles?
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What is one of the first actions in the ethical decision-making framework?
What is one of the first actions in the ethical decision-making framework?
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How can marketing ethics help in addressing the needs of society?
How can marketing ethics help in addressing the needs of society?
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How is social responsibility integrated into Conscious Marketing?
How is social responsibility integrated into Conscious Marketing?
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What is one consequence of socially irresponsible targeting in marketing?
What is one consequence of socially irresponsible targeting in marketing?
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What is typically NOT associated with Conscious Marketing principles?
What is typically NOT associated with Conscious Marketing principles?
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Which of the following is a factor contributing to high prices in marketing?
Which of the following is a factor contributing to high prices in marketing?
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What is one of the ethical challenges marketers face regarding shareholder interests?
What is one of the ethical challenges marketers face regarding shareholder interests?
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Study Notes
Food Deserts
- Lack of supermarkets in low-income areas creates "food deserts," limiting access to healthy and affordable food options
Predatory Pricing
- National chain retailers often engage in predatory pricing practices by strategically placing stores in low-income neighborhoods, exploiting limited options and raising prices
Targeting Vulnerable Groups
- Marketing campaigns often irresponsibly target vulnerable groups, such as children, elderly, and those with limited financial resources
Consumer Manipulation
- The marketing system is often critiqued for manipulating consumer behavior by promoting desires for unnecessary products and influencing purchasing decisions
Consumer Defense
- Critics argue that consumer education and awareness are key defenses against misleading marketing tactics
Consumerism
- Marketing's negative influence on societal values, leading to a focus on material possessions, is known as consumerism
Inequality in Access
- The distribution of products and services based on market forces reinforces social inequalities in access to goods
Product Failure
- The high failure rate of new products in the market can result in wasted resources, financial losses, and environmental impact
Conscious Marketing vs. Corporate Social Responsibility
- Conscious Marketing emphasizes a holistic approach to business, considering social and environmental impacts, while Corporate Social Responsibility is a reactive approach focusing on ethical compliance
Social Responsibility Focus
- Corporate social responsibility in marketing primarily focuses on ethical conduct, environmental sustainability, and philanthropy
Business and Society
- Conscious Marketing views business and society as interconnected entities with shared responsibilities and values
Criticisms of Marketing
- The claim that marketing techniques are too persuasive to be ethical is NOT a common criticism of marketing on consumers
Ethical Decision-Making
- The second step in ethical decision-making is identifying stakeholders affected by the decision
Vertical Price Fixing
- Vertical price fixing in marketing occurs when a supplier sets minimum resale prices for its products
CSR vs Conscious Marketing
- The primary difference between Corporate Social Responsibility and Conscious Marketing frameworks is the proactive approach to ethical practices and social impact adopted by Conscious Marketing
Ethical Firm Characteristics
- An ethical firm prioritizes long-term sustainability, transparency in operations, and fair treatment of all stakeholders
Conscious Marketing Principles
- Conscious Marketing principles align with building trust, creating meaningful relationships, and prioritizing social responsibility, encompassing all stakeholders' well-being
Ethical Decision-Making Actions
- One of the first actions in the ethical decision-making framework is identifying the ethical dilemma
Societal Needs
- Marketing ethics can effectively address societal needs by understanding the impact of marketing practices on various communities and adapting to their needs
Social Responsibility Integration
- Social responsibility is dynamically integrated into Conscious Marketing by setting higher ethical standards, prioritizing stakeholder impact, and fostering positive social change
Socially Irresponsible Targeting
- Socially irresponsible targeting in marketing can lead to the exploitation of vulnerable groups, creating inequalities and perpetuating unhealthy practices
Conscious Marketing Practices
- Greed and short-term profit maximization are typically NOT associated with Conscious Marketing principles
High Prices in Marketing
- One factor contributing to high prices in marketing is the high cost of advertising and marketing campaigns
Shareholder Interests
- Marketers face an ethical challenge regarding shareholder interests when needing to balance short-term profit maximization with long-term sustainable practices and social responsibility
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