17-1 Chapter Objectives LO1 Identify why marketers should be concerned about ethics LO2 Describe the characteristics of a socially responsible firm LO3.

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Presentation transcript:

17-1 Chapter Objectives LO1 Identify why marketers should be concerned about ethics LO2 Describe the characteristics of a socially responsible firm LO3 Explain how a firm could make ethically responsible decisions LO4 Outline how ethics & social responsibility can be integrated into a firm’s marketing strategy LO5 Identify how consumers foster ethical and socially responsible business practices LEARNING OBJECTIVES

17-2 A Framework for Ethical Decision Making LO3

17-3 Step One: Identify Issues Marketing research firm issues Using results to mislead or even harm the public Data collection methods Hiding the real purpose of the study LO3

17-4 Step Two: Gather Information and Identify Stakeholders Identify all ethical issues and relevant legal information Identify all relevant stakeholders and get their input on any identified ethical issues LO3

17-5 Stakeholder Analysis Matrix for a Marketing Research Firm LO3

17-6 Case in Point: Ben and Jerry’s Challenge Answer Results To promote business practices that respect the earth and the environment. Ethical sourcing of production and suppliers. The company only uses milk that does not contain growth hormones, and now has transitioned to “certified humane” cage free eggs, also using fair trade certified ingredients such as coffee and vanilla. LO3

17-7 LO3

17-8 Step Three: Brainstorm Alternatives Halt the market research project? Make responses anonymous? Instituting training on the CMA Code of Ethics for all researchers LO3

17-9 Step Four: Choose a Course of Action Weigh the alternatives Take a course of action LO3