17-1 chapter objectives lo1 identify why marketers should be concerned about ethics lo2 describe...

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 IssuesLO3

17-4

Step Two: Gather Information and Identify Stakeholders

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