Co-producer risk is directly related to the concept of: A) ...

[OSWALD]

Co-producer risk is directly related to the concept of:
 A) intangibility.
  B) heterogeneity.
  C) inseparability.
  D) perishability.
  E) nonstandardization.

Question 2

With respect to the strategic planning process, why has social responsibility and marketing ethics become important today? Is it really necessary to consider these issues in strategic planning? How can a firm plan to be socially responsible?

[InfiniteSteez]

Answer to Question 1

C

Answer to Question 2

Our society still reverberates from the effects of corporate scandals at Enron, WorldCom, and ImClone, among others. Although these scandals make for interesting reading, many innocent individuals have suffered the consequences from these companies' unethical behavior. Social responsibility refers to an organization's obligation to maximize its positive impact on society while minimizing its negative impact. In terms of marketing strategy, social responsibility addresses the total effect of an organization's marketing activities on society. A major part of this responsibility is marketing ethics, or the principles and standards that define acceptable conduct in marketing activities. Ethical marketing can build trust and commitment and is a crucial ingredient in building long-term relationships with all stakeholders. Another major component of any firm's impact on society is the degree to which it engages in philanthropic activities. Many firms now make philanthropy a key strategic activity.

Because efforts to be socially responsible involve the allocation of human and financial resources, these activities must be planned just like traditional marketing activities.