What Is the Major Difference Between Social Responsibility and Marketing

question 115

Multiple Choice

What is the major difference between social responsibility and marketing ethics?

• A) Marketing ethics varies by industry whereas social responsibility involves universal rules of conduct.
• B) There is legislation that deals with marketing ethics, but none for socially responsible practices.
• C) Marketing ethics is concerned with organizational practices, and social responsibility is concerned with individual behavior.
• D) There is no difference; they are synonymous terms.
• E) Social responsibility deals with the total effect of marketing decisions on society, whereas marketing ethics relates to individual and group evaluations in marketing situations.

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Definitions:

Periodic Inventory System

An inventory system in which the inventory count and the cost of goods sold calculation are performed at set intervals, typically at the end of an accounting period.

Periodic Inventory System

An inventory accounting system where updates are made on a periodic basis, rather than continuously, often used for calculating cost of goods sold at the end of an accounting period.

Sales Returns & Allowances

Reductions in sales revenue for products returned by customers or allowances given for damaged goods.

Merchandise Inventory

Goods that a company holds for the purpose of selling to customers in the ordinary course of business.