Class notes
COMMERCE 1MA3 Full Class Notes
- Course
- Institution
Complete class notes including everything that is on the slides along with specific notes said by the teacher in class. Enjoy!
[Show more]
Seller
Follow
dilldylanhilton
Content preview
Introduction to Marketing - COMM-1MA3Chapter 17-Ethics & Socially Responsible Marketing
Marketing Ethics Deal
Shareholder interests vs Societal needs
❖ Business Ethics
➢ Concerned with distinguishing between right & wrong actions and decisions that
might arise in a business setting
❖ Marketing Ethics
➢ Examines ethical situations that are specific to the domain of marketing, including
societal, global, or individual consumer issues
Creating an Ethical Climate in the Workplace
❖ Values
➢ Establish
➢ Share
➢ Understand
❖ Rules
➢ Management commitment
➢ Employee dedication
❖ Controls
➢ Reward
➢ Punishment
CSR - Corporate Social Responsibility
Voluntary actions taken by a company to address the ethical, social & environmental impacts of
its business operations & the concerns of its stakeholders.
Ethics vs. Social Responsibility
, Introduction to Marketing - COMM-1MA3
Framework for Ethical Decision Making
1. Identify Issues
- Using results to mislead or even harm the public
- Hiding the real purpose of the study
- Data collection methods
2. Gather Information & Identify Stakeholders
- Identify all ethical issues & relevant legal information
- Identify all relevant stakeholders & get their input on any identified ethical issues
3. Brainstorm & Evaluate Alternatives
- Halt the market research project?
- Make responses anonymous?
- Instituting training on the CMA Code of Ethics for all researchers
4. Choose a Course of Action
- Weigh the alternatives
- Take a course of action
, Introduction to Marketing - COMM-1MA3
Chapter 16-Global Marketing
Globalization
The increased flow of goods, services, people, technology, capital, information & ideas around
the world; has economic, political, social, cultural & environmental impacts.
Assessing Global Markets
4 sets of factors are often used to assess a countries market PEST:
❖ Political
➢ Tariffs
■ Duty/tax
■ Artificially raises prices
■ Lowers demand
➢ Quotas
■ Max limit
■ Reduces availability of imported goods
➢ Boycotts
■ Groups refusal to deal commercially with an organization to protest
against its policies
➢ Exchange control
■ Value of the dollar
➢ Trade agreements
➢ Trade sanctions
■ Penalties or restrictions imposed by one country over another for
importing & exporting goods, services & investments
❖ Economic
➢ General economic environment
■ GDP (Gross DOmestic Product)
■ Trade surplus or deficit
■ Purchasing power parity
■ Human development index
➢ Market size & population growth rate
■ Less developed nations are experiencing rapid population growth, while
many developed nations are experiencing either 0 or negative natural
population growth
➢ Real income
■ Firms can make adjustments to an existing product or change the price to
meet the unique needs of a particular countries market
❖ Sociocultural
, Introduction to Marketing - COMM-1MA3
➢ Power distance
➢ Uncertainty avoidance
➢ Individualism
➢ Masculinity
➢ Time orientation
➢ Indulgence
❖ Technology & infrastructure factors
➢ Transportation
➢ Distribution channels
➢ Communication
➢ Commerce
Global Market Entry Strategies
The more control you wish to have the riskier the entry gets.
Choosing a Global Marketing Strategy Target Market (STP)
❖ Cultural Nuances
❖ Subcultures
❖ View of Product & Consumer Roles
❖ Different Positioning
❖ Product Adaptation
❖ Alter Marketing Mix as Needed
Global Marketing Mix: Global Product or Service Strategies
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller dilldylanhilton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.80. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52507 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now