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Ppt chapter 4
Ppt chapter 4
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Ppt chapter 4

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Marketing (4th Edition) by Grewal & Levy, McGraw-Hill - Irwin, 2014.

Marketing (4th Edition) by Grewal & Levy, McGraw-Hill - Irwin, 2014.

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  • 1. Principles of Marketing MKT3010 Chapter 4 Marketing Ethics Patricia Knowles, Ph.D. Associate Professor Clemson University 1
  • 2. 2 Principles of Marketing MKT3010 2 Marketing Ethics These are the learning objectives guiding the chapter and will be explored in more detail in the following slides. Identify the ethical values marketers should embrace. Distinguish between ethics and social responsibility. Identify the four steps in ethical decision making. Describe how ethics can be integrated into a firm’s marketing strategy. Describe the ways in which corporate social responsibility programs help various stakeholders. LO1 LO2 LO3 LO4 LO5
  • 3. 33 Firm Goals Profit is important to the success of the firm. But how the firm makes that profit can have a dramatic impact on the firm’s future. Principles of Marketing MKT3010 Greed and short term profit seeking Serious long term consequences Creating value over the long run Long term success Javier Pierini/Getty Images
  • 4. 44 The Scope of Marketing Ethics Principles of Marketing MKT3010 This YouTube video is a Miller ad for responsible drinking. Business Ethics Marketing Ethics
  • 5. 55 Attitudes About the Ethical Standards of Various Professions Marketing is a very visible part of business. Often practices that are the result of other business functions will be attributed to marketing. Marketers need to stress the good things that they do and the value that the add to society. Also, by policing practitioners and sanctioning those who violate the various codes of ethics, etc., marketers can demonstrate that they are serious about ethical standards. Principles of Marketing MKT3010 • Why do you feel marketers (advertising practitioners & salespeople) rank so low on this scale? • What can marketers do to improve their ranking? Jeffrey M. Jones, “Nurses Top Honesty and Ethics List for 11th Year,” Gallup, November 19–21, 2010, http://www.gallup.com/poll-145043/nurses-top-honesty-ethicslist-11-year.aspx
  • 6. 66 Creating an Ethical Climate in the Workplace A strong ethical climate requires a commitment from the top down within the firm. Everyone within the firm must agree to a system of controls that rewards appropriate behavior and punishes inappropriate behavior. Principles of Marketing MKT3010 Values • Establish • Share • Understand Rules • Management commitment • Employee dedication Controls • Reward • Punishment Stockbyte/Getty Images
  • 7. 77 American Marketing Association Code of Ethics Principles of Marketing MKT3010 Each sub-area within marketing, such as marketing research, advertising, pricing, and so forth, has its own code of ethics that deals with the specific issues that arise when conducting business in those areas. Generally accepted code in marketing Flows from general norms of conduct to specific values Subareas within marketing have their own code of ethics to deal with specific issues
  • 8. 88 The Influence of Personal Ethics In many cases, ethics is in the eye of the beholder. Principles of Marketing MKT3010 Genetics Family Religion Values Corbis/Jupiter images Photo Disc/Getty Images ©Digital Vision Ltd. ©Royalty-Free/CORBIS Getty Images
  • 9. 99 Principles of Marketing MKT3010 Why People Act Unethically Are all the individuals who engage in questionable behavior just plain immoral or unethical? What makes people take actions that create so much harm? Decisions often have conflicting outcomes, where both options have positive and negative consequences
  • 10. 1010 Principles of Marketing MKT3010 Compelling Outcomes Dangerous flaw in new model Delay production Delayed revenue Possible layoffs Loss of bonuses Continue production Potential injury to consumers Loss of revenue Digital Vision/Getty Images
  • 11. 1111 The Link Between Ethics and Corporate Social Responsibility Principles of Marketing MKT3010 Socially Responsible Socially Irresponsible EthicalUnethical Both ethical and socially responsible Neither ethical nor socially responsible Questionable firm practices, yet donates a lot to the community Ethical firm not involved with the larger community
  • 12. 1212 A Framework for Ethical Decision Making This concept is broken down in the next slides. Principles of Marketing MKT3010 Step 1 •Identify Issues Step 2 •Gather information and identify stakeholders Step 3 •Brainstorm and evaluate alternatives Step 4 •Choose a course of action
  • 13. 1313 Step 1: Identify Issues In a marketing research firm, ethical issues might include: • Data collection methods—not informing respondents that they are being observed • Hiding the true purpose of a study from respondents—telling them they are an independent research company, but actually doing research for a particular politician. • Using results to mislead or even harm the public—results of a pharmaceutical study. Principles of Marketing MKT3010 Marketing research firm issues Using results to mislead or even harm the public Data collection methods Hiding the real purpose of the study
  • 14. 1414 Step 2: Gather Information and Identify Stakeholders Principles of Marketing MKT3010 Identify all ethical issues and relevant legal information Identify all relevant stakeholders and get their input on any identified ethical issues
  • 15. 1515 Step 3: Brainstorm and Evaluate Alternatives Principles of Marketing MKT3010 The alternative solutions depend on the type of ethical issue and how the stakeholders are affected. • Halt the market research project? • Make responses anonymous? • Instituting training on the AMA Code of Ethics for all researchers Ryan McVay/Getty Images
  • 16. 1616 Step 4: Choose a Course of Action Principles of Marketing MKT3010 Alternatives are then evaluated and a course of action is chosen. The chosen course represents the best solution for the stakeholders using ethical best practices. Weigh the alternatives Take a course of action Digital Vision/Getty Images
  • 17. 1717 Check Yourself Principles of Marketing MKT3010 1. Identify the stages in the ethical decision-making framework.
  • 18. 1818 Integrated Ethics into Marketing Strategy Principles of Marketing MKT3010 As marketers, you must ask questions specific to each stage and examine those questions carefully before moving on to the next stage. Planning Phase Implementation Phase Control Phase
  • 19. 1919 Planning Phase Principles of Marketing MKT3010 By incorporating ethics into the firm’s mission statement, the firm sets a standard for its subsequent ethical decision making. The mission statement signals the firm’s strategic priorities. • The mission or vision statement sets the overall ethical tone for planning. • Mission statements can be used as a means to guide a firm’s SWOT analysis. ©M Hruby
  • 20. 2020 Newman’s Own: Donating Over $200 Million Since 1982 The adding value 3.1 box features Newman’s Own Organics. Principles of Marketing MKT3010 ©Newman’s Own, Inc.
  • 21. 2121 Implementation Phase Principles of Marketing MKT3010 Should the firm be targeting this market with this product? Should the firm be selling its product in this market in this manner? Should the firm be relocating production to another country?
  • 22. 2222 Control Phase Principles of Marketing MKT3010 1. Check successful implementation 2. React to change Barbara Penoyar/Getty Images Any plan requires constant evaluation and revision, and this truism applies particularly to the evaluation of ethical issues.
  • 23. 2323 Check Yourself Principles of Marketing MKT3010 1. What ethical questions should a marketing manager consider at each stage of the marketing plan?
  • 24. 2424 Corporate Social Responsibility Principles of Marketing MKT3010 •Employees •Their families Employees •Current customers •Potential customers Customers •Community •Environment Society •Partners •Competitors Marketplace
  • 25. 2525 Check Yourself Principles of Marketing MKT3010 1. How has corporate social responsibility evolved since the turn of the twenty-first century? 2. Provide examples of each of the stakeholders that firms should consider in their corporate social responsibility efforts.
  • 26. 2626 Glossary Principles of Marketing MKT3010 Corporate social responsibility describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.

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