Business ethics are rules of conduct that guide actions in the marketplace; these are the standards against

which
most people in a culture judge what is right and what is wrong, good or bad. These universal values include
honesty, trustworthiness, fairness, respect, justice, integrity, concern for others, accountability, and loyalty.

A triple bottom-line
Orientation refers to business strategies that strive to maximize return in three ways:
1. The financial bottom line: Provide profits to stakeholders.
2. The social bottom line: Return benefits to the communities where the organization
Operates.
3. The environmental bottom line: Minimize damage to the environment or even
Improve natural conditions.

Green marketing describes a strategy that involves the development

And promotion of environmentally friendly products and stressing this attribute when the
Manufacturer communicates with customers. Although some specialized companies such
As Seventh Generation have successfully built a following around their green products, this
Strategy has not fared well in recent years.

Consumer addiction is a physiological or psychological dependency on products or services. Many companies

profit from selling addictive products or from selling solutions for kicking a bad habit.

Social media addiction to chemical dependency, to the point of inducing symptoms of withdrawal when users
are deprived of their fix. As one noted, “Everyone is a potential addict—they’re just waiting for their drug of
choice to come
Along, whether heroin, running, junk food or social media.

Compulsive consumption refers to repetitive and often excessive shopping performed as an antidote to tension,
anxiety, depression, or boredom.100

“Shopaholics” turn to shopping much the way addicted people turn to drugs or alcohol.

Consumed consumers are people who are used or exploited, willingly or not, for commercial gain in the
marketplace. Here are some examples:

Shrinkage is the industry term for inventory and cash losses from shoplifting and employee theft

Serial wardrobers who buy an outfit, wear it once,and return it;

Counterfeiting, where companies or individuals sell fake versions of real products to customers (who may or
may not be aware of the switch),

Anticonsumption; events in which people deliberately deface or mutilate products and services.

Greenwashing occurs when companies make false or exaggerated claims about how environmentally friendly
their products are.

Identity theft occurs when someone steals your personal information and uses it without your permission. They
may charge items on a credit card or perhaps access medical services via your health benefits.

Corporate social responsibility (CSR) into their business models. CSR describes processes that encourage the
organization to make a positive impact on the various stakeholders in its community including consumers,
employees, and the environment. For example, the shoe company TOMS is well-known for its promise to give a
needy child a pair of shoes for every pair it sells.

Social marketing
strategies use the techniques that marketers normally employ to sell beer or detergent to encourage positive
behaviors such
As increased literacy and to discourage negative activities such as drunk driving

Pareto Federico Rule

This “universal truth” about the imbalance of inputs and outputs is what became known as the Pareto principle,
or the 80/20 rule. While it doesn’t always come to be an exact 80/20 ratio, this imbalance is often seen in
various business cases:

• 20% of the sales reps generate 80% of total sales.

• 20% of customers account for 80% of total profits.

Role Theory
• Identifies consumers as actors on the marketplace stage

Popular Culture
Forms of entertainment that the mass market produces and consumes-is both a product of and an inspiration for
marketers

|Example: the music, movies, sports, books and celebrities etc.

Consumer
A consumer is a person who identifies a need or desire, makes a purchase, and then

disposes of the product during the three stages of the consumption process.

Consumer behavior
is the study of how people make decisions about what they buy, want, need, or act in regards to a product,
service, or company. It is critical to understand consumer behavior to know how potential customers will
respond to a new product or service.

Perception
Perception is the organization, identification, and interpretation of sensory information in order to represent and
understand the presented information, or the environment.

Hedonic consumption
hedonic consumption: multisensory, fantasy, and emotional aspects of consumers’ interactions with products

What is a haptic feedback technology (haptic)?

Put it simply, haptic is a technology, which allows one to receive tactile information through one’s sensations.
Mobile phone vibration is very often described as an example of haptic feedback technology. But it is only one
and simple illustration of how haptic can function.

Kansei Engineering
Kansei Engineering can be defined as a product development methodology that translates customers’ and users’
feelings, impressions, and emotions into concrete design parameters.

Family Branding
A family brand may be referred to a group of different products belonging to a single brand that are marketed
under their parent brand. The different products with different images are put under the major brand or the
parent brand. The family brand is also referred to as an umbrella brand.

Authoritarian parenting
Authoritarian parenting is a parenting style characterized by high demands and low responsiveness. Parents
with an authoritarian style have very high expectations of their children, yet provide very little in the way of
feedback and nurturance. Mistakes tend to be punished harshly. When feedback does occur, it is often negative.
Yelling and corporal punishment are also commonly seen in the authoritarian style.

Neglectful parenting
Uninvolved parenting, sometimes referred to as neglectful parenting, is a style characterized by a lack of
responsiveness to a child's needs. Uninvolved parents make few to no demands of their children and they are
often indifferent, dismissive, or even completely neglectful.

Permissive Parenting (Indulgent)

Low demandingness. High responsiveness

Permissive parents set very few rules and boundaries and they are reluctant to enforce rules. These parents are
warm and indulgent but they do not like to say no or disappoint their children.

Children of permissive parenting:

• Cannot follow rules.

• Have worse self-control.
• Possess egocentric tendencies.
• Encounter more problems in relationships and social interactions.