Exam 4: Conscious Marketing, Corporate Social Responsibility, and Ethics

Briefly describe the three phases of the strategic marketing planning process and give one example of an ethical dilemma that might arise during each phase.

Avoiding a GMO label might help companies sell more of their products. Thus far, many food manufacturers seem to be fighting GMO labeling. However, in 2014 General Mills decided to make some of its products, such as Cheerios, completely free of GMOs, and Whole Foods has committed to issuing labels, by 2018, on all GMO-containing foods it sells. Who are the stakeholders in this situation?

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during which step of the ethical decision-making process?

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, ________ should engage in brainstorming and evaluating alternatives.

Compared to the average company, firms with strong ethical climates tend to

The most basic corporate social responsibility of a company is to its customers to ensure that a product is produced at the lowest cost.

Renata is an employee at a clothing retail store and shops at a local hardware store. In each of these situations, she is an example of a

The Washington County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to

Walmart engages in CSR programs across its triple bottom line: by committing to reduce its carbon footprint, donating more than $1 billion in cash and in-kind items to charitable causes per year, and maintaining strong profits.

A common view in today's business climate is that the only responsibility of a business is to its shareholders, so its only purpose is to make a profit.

If Kendra decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations?

Katrine's company is in the midst of identifying potential markets for its line of women's accessories and the best way to deliver the 4 Ps to those markets. The company wants to ensure that its policy of "a healthy world comes from healthy practices" is put into place during this process. Which phase of conscious marketing is the company involved in?

How would you distinguish a firm that practices corporate social responsibility from one that practices conscious marketing?

The Woodstock Corp. has learned that customers assume the data they provide to the company is being used for product development when, in actuality, that data is being sold to other businesses. Now that Woodstock has identified this issue, what is the next step it should take?

When a firm embraces conscious marketing, it is evident that

Every year, General Mills issues a report discussing how the firm has performed against its own standards of conscious marketing. This report is part of General Mills's ________ phase of its strategic marketing planning process.

Which statement differentiates conscious marketing from CSR?

Although the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company continued to be a major donor to Houston area charities. While Enron had unethical business practices, it also

Key corporate social responsibility (CSR)stakeholders include employees, customers, society, and the marketplace.

The CEO of your firm, a distributor for a domestic beer manufacturer, has asked you to take on a special project. She has been hearing about a growing trend toward corporate social responsibility, but she wonders if this is a reasonable investment for the firm. Outline the costs and benefits in general terms and draw your own conclusion for her consideration.