MKTG 333 Lecture Notes - Lecture 4: Business Marketing, Invisible Hand, Sales Promotion
Document Summary
Beliefs learned and passed on from one generation to another. Used to distinguish one group from another. Provides solutions to common questions: how one relates to others of same/opposite sex, physical world, and the universe. Good ethics is in the firm"s long-term best interest. Selling: bribery, gifts/favors/entertainment, misrepresentation/overselling, conflicts of interest, compensation and bookings. Product: safety, obsolescence/elimination, service/warranty, manufacturing environmental impact, disposal. Marketing communications: deceptive/misleading advertising and/or sales promotion, violations of confidential information (direct, internet marketing) Pricing: price-fixing, reciprocity, violation of secrecy in bidding, unjustified price discrimination, unfair pricing, questionable invoicing, artificial transfer pricing. Market research: respondent participation, researcher responsibilities. Personnel: discrimination in hiring, unfair treatment of employees. Reflection and integration of values into management decision-making and in the. Company systems and structures support reinforce core values. Corporate culture is an important part of the ethical tone of the firm. Marketing ethic rules and approaches may not always give useful guidelines for.
