Which of the following is an accurate statement about corporate social responsibility?

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Which is true of corporate social responsibility?
What is the best example of corporate social responsibility affecting the marketplace quizlet?
Which is the best description of corporate social responsibility CSR )? Multiple choice question?
What does social responsibility mean for corporation quizlet?

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Question	Answer
Marketing Plan	Specifies the Markets activities for a specific period of time.
Exchange	The trade of things of value between the buyer and the seller so that each is better off as a result.
Marketing Mix	Pertains to the 4 P's: Product, price, promotion, and place.This is how they find what the target market wants.
Product	Creating value in a product through goods, services, and ideas.
Goods	Items that a consumer can physically touch.
Services	Intangible customer benefits that are produced by people or machines and cannot be separated from the producer. Ex: buy a ticket, but want the performance not the ticket.
Ideas	Includes concepts, opinions, and philosophies that can be marketed.
Price	Everything the buyer gives up- money, time, energy- in exchange for the product.
Place	All the activities necessary to get the product to the right customer when that customer wants it.
Promotion	The communication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions and elicit a response.
B2C	Business to Consumer marketing.
B2B	Business to Business marketing.
C2C	Consumer to Consumer marketing.
Production Oriented Era	"A good product will sell itself." -Beginning 20th Century. Not focused on satisfying customer.
Sales-Oriented Era	Between 1920-50. Having more product than consumers knew they needed- had to sell.
Market-Oriented Era	After WWII. Consumers began to see their choices. Organizations took what the consumer wanted before even creating the product.
Value-Based Marketing Era	Present day.
Value	Reflects the relationship of benefits to costs, or what you get for what you give.
Value Cocreation	Customers can act as collaborators to create the product or service. Ex: Making their own frozen yogurt.
Relational Orientation	Thinking of customers as relationships rather than transactions. Lifetime profitability. Ex: Apple iPhones.
Customer Relationship Management (CRM)	A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firms most valued customers.
Supply Chain or Marketing Channel	A group of firms that make and deliver a given set of goods and services. Ex: Raw Material--> Manufacturer-->Retailer--> Consumer
Entrepreneurs	People who organize, operate, and assume the risk of a business venture.
Marketing Strategy	Identifies a firms target markets, a related marketing mix (4 P's), he bases on which the firm plans to build a sustainable competitive advantage
Sustainable Competitive Advantage	An advantage over the competition that is not easily copied and thus can be maintained over a long period of time.
Customer Excellence	Focuses on retaining loyal customers and excellent customer service.
Operational Excellence	Achieved through efficient operations and excellent supply chain and human resource management.
Product Excellence	Having products with high perceived value and effective branding and positioning.
Locational Excellence	Having a good physical location and internet presence
Customer Value	When customer, operational, product, and locational excellence are combined.
Marketing Plan	A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four P's, action programs, and projected or pro-forma statements.
Planning Phase	Steps 1 and 2: Marketing executives define the mission and/or vision of the business. Situation analysis- evaluate how players (in and out of the organization) have an affect on the firms potential success.
Implementation Phase	Step 3 and 4: STP and the 4 P's
Control Phase	Step 5: Entails evaluating the performance of the marketing strategy using marketing metrics and taking any necessary corrective actions.
Mission Statement	A broad description of a firm's objectives and the scope of activities it plans to undertake and attempts to answer what time of business they are and what they want to accomplish.
Situation analysis	SWOT- Strengths, Weaknesses, Opportunities, and Threats.
STP	Segmentation, targeting, and positioning
Segmentation	When many types of firms appear in any market, and most firms cannot satisfy everyone's needs.
Market segment	Consisting of consumers who respond similarly to a firm's marketing efforts
Market Segmentation	The process of dividing the market into groups of customers with different needs, wants, or characteristics. Might appreciate products geared for them.
Targeting	When a firm identifies the various market segments it might pursue, it evaluates each segment's attractiveness and decides which to pursue.
Market positioning	Involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.
Metric	A measuring system that quantifies a trend, dynamic, or characteristic. Used to explain why things happened and also to project the future.
Portfolio Analysis	Management evaluates the firms various products and businesses- it's portfolio- and allocates resources according to which products are expected to be the most profitable for the firm in the future.
Strategic Business Unit (SBU) or product line	where portfolio analysis is performed. An SBU can be operated and managed separately from the business and could possibly have its own mission statement.
Market Share	The percentage of a market accounted for by a specific entity and is used to establish the products strength in a particular market.
Relative Market Share	It provides managers with a products relative strength, compared with that of the largest firm in the industry.
Market Growth Rate	Annual rate of growth of the specific market in which the products compete.
Stars	HIGH growth market and HIGH market shares. Heavily invested in. As their market growth slows they become cash cows.
Cash Cows	LOW growth market and HIGH market shares. Used to be heavily invested in so they can spin this into products they need.
Question Marks	HIGH growth market and LOW market shares. MAnager heavy. Decide to infuse product with more resources generated from cash cows to make them stars or phase the product out to dogs.
Dogs	LOW growth market and Low market share.Should be phased out. Never destined to reach star status.
IPHONE	Cash Cow
IPAD	Star
IPHONE	Star
ITUNES	Cash Cow
Market Penetration Strategy	Employs the existing marketing mix and focuses the firms efforts on existing customers.
Market Development Strategy	Employs the existing marketing offering to reach new market segments, whether domestic or international.
Product Development Strategy	Offers a new product service to a firms current target market.
Diversification Strategy	Introduces a new product or service to a market segment that is currently not served.
Related diversification	The current target market and/or targeting mix shares something in common with the new opportunity.
Unrelated Diversification	The new business lacks any common elements with the present business.
Business Ethics	Refers to the moral or ethical dilemmas that might arise in a business setting
Marketing Ethics	Examines those ethical problems that are specific to the domain of marketing.
Ethical Climate	Within a marketing firm includes having a set of values that guide decision making and behavior.
Corporate Social Responsibility	Entails voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.
LOOK AT THE FRAMEWORKS ON PAGE 146
Macroenviromental factors	The culture, demographics, social issues, technological advances, economical situation, and the political/regulatory environment within the outside of the company that involves the consumer
Culture	Shared beliefs, morals, values, and customs of a group of people.
Country culture	A universal appeal within the specific identities of country culture.
Regional Culture	The region in which people live in a particular country.
Demographics	Indicate the characteristics of human populations and segments, especially those used to identity consumer markets.
Generational Cohort	A group of people of the same generation have similar purchase behaviors because they have shared experiences and are in the same stage of life.
Genration Z	Digital Natives. Born into a world of social media and technology.
Generation Y	Millennials. Born between 1977 and 2000. Children of Baby Boomers. Learned with technology.
Generation X	Xers. Born between 1965 and 1976.
Baby Boomers	Born between 1946 and 1964. Large boom of babies after WWII.
Inflation	Refers to the persistent increase in the prices of goods and services.
Foreign Currency Fluctuations	Can influence consumer spending. A crisis in one country can cause change in another
Interest Rates	Represent the cost of borrowing money.
Political/Regulatory Environment	Comprises political parties, government organizations and legislation, and laws.
When firms are applying an ethical framework for making decisions in a questionable situation, the first step is to…?	Identify issues
The goal of the marketing exchange is that the parties to the transaction be..?	Satisfied
What tool would a marketing executive use to ensure that he or she has applied all relevant decision-making criteria to assess his or her confidence in having come to a decision that respects the rights and dignity of all stakeholders?	An ethical decision-making metric
A firm whose employees act in an ethical manner, and which is concerned with only its closest stakeholders is considered to be..?	Ethical but socially irresponsible.
With regard to the Ethical Decision-Making Metric, which of the following questions best represents “the Transparency Test”?	Could I give a clear explanation for the action I’m contemplating that would satisfy a fair moral judge?
The social trend of _____ is causing consumers to question whether or not firms are truly operating with consideration for the environment or simply changing marketing efforts in order to appear that they are.	greener consumers
Apple’s iPad is an example of which of the following types of marketing offerings?	Goods
Which of the following is an accurate statement about corporate social responsibility?	A firm’s employees must engage in ethical practices in order to be socially responsible.
A group that sponsors bike helmet poster contest for for children to promote bicycle safety is providing which of the following marketing offerings?	Ideas
Your text describes the macroenvironmental factors that operate in the external environment by which acronym?	CDSTEP
Which of the following marketing mix variables is involved in the capture of the value in the marketing exchange?	Price
In the _____ phase of marketing strategy, marketers must determine whether they truly have acted in an ethical and socially responsible manner.	Control
Walmart is known for keeping its costs low as possible, partly by developing strong relationships with its suppliers. Based on this information, what is Walmart’s primary source of sustainable competitive advantage?	Operational Excellence
Which of the following is an example of a marketing metric that might be used to evaluate the performance of a company’s implementation of its marketing plan?	GM (gross Margin)
SWOT analysis is typically conducted during which step of the marketing planning process?	Analyzing the situation
As noted in your text, which of the following ranks as the top unethical behavior by employees as reported by chief marketing officers?	participating in misleading or deceptive sales tactics

Which of the following statements is true of corporate social responsibility (CSR)? It is demonstrated by companies that consider their relationship to the society in which they operate.

Which of the following is the best example of corporate social responsibility affecting the marketplace? An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit.

Which of the following statements best describes corporate social responsibility? A corporation's obligation to society that goes beyond the requirements of the law and economics to take into account the social and environmental impact of its decisions.

Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment.

accurate statement corporate social responsibility

Which of the following is an accurate statement about corporate social responsibility?

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Which of the following is an accurate statement about corporate social responsibility?

Which is true of corporate social responsibility?

What is the best example of corporate social responsibility affecting the marketplace quizlet?

Which is the best description of corporate social responsibility CSR )? Multiple choice question?

What does social responsibility mean for corporation quizlet?

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Populer

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