MCS 1000 Chapter Notes - Chapter 4: Disinformation, Green Marketing, Root Mean Square

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Chapter 4: ethics and social responsibility in marketing. Ethics: the moral principles and values that govern that actions and decisions of an individual or group. Laws: society"s values and standards that are enforceable in the courts: in general what is illegal is also unethical, but there are exceptions. Social culture and norms: culture also serves as a socializing force that dictates what is morally right and just, theses standards often re ect laws and regulations that affect social and economic behaviour, which can create moral dilemmas. Business culture and industry practices: business cultures comprise the effective rules of the game, the boundaries between competitive and unethical behaviour and the codes of conduct in business dealings, business culture affects ethical conduct. Ethics of exchange: both parties after an exchange should be better off. Caveat emptor: the legal concept of let the buyer beware that was pervasive in canadian business culture before the 1960s.