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Business Ethics
Refers to a branch of ethical study that examines ethical rules and principles within a commercial context, the various moral or ethical problems that may arise in a business setting TERM 2
Ethical Climate
DEFINITION 2 the set of values within a marketing firm or in the marketing division of any firm that guide decision making and behavior TERM 3
Marketing Ethics
DEFINITION 3 Refers to those ethical problems that are specific to the domain of marketing TERM 4
Corporate Social Responsibility
DEFINITION 4 Refers to the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and concerns of it's stakeholders TERM 5
Macroenvironmental Factors
DEFINITION 5 Aspects of the external environment that affect a company's business, such as the culture, demographics, social issues, technological advance, etc
Culture
the set of values, guiding beliefs, understandings and ways of doing things shared by members of a society TERM 7
Country Culture
DEFINITION 7 Entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, and language TERM 8
Demographics
DEFINITION 8 Information about the characteristics of human populations and segments, especially those used to identify consumer markets such as age, gender, income, and education TERM 9
Generational Cohort
DEFINITION 9 A groupe of people of the same generation TERM 10
Seniors
DEFINITION 10 America's fastest growing generational cohort; people aged 55 to 64 years old
Technological advances
Macroenvironmental factor that has greatly contributed to the improvement of the value of both products and services in the past few decades TERM 17
Economic
Situation
DEFINITION 17 Macroeconomic factor that affects the way consumers buy merchandise and spend money, both in a marketers home country and abroad TERM 18
Inflation
DEFINITION 18 Refers to the persistent increase in the prices of goods and services TERM 19
Foreign Country Fluctuations
DEFINITION 19 Changes in the value of a country's currency relative to the currency of another country TERM 20
Political/ Regulatory environment
DEFINITION 20 Comprises political parties, government organizations, & legislation & laws
Interest Rates
these represent the cost of borrowing money
