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Corporate social responsibility (Unfair Competition definitions :forbidden…
Corporate social responsibility
features
ethics
social justice
equity
marketing creates needs that are not required = wasting resources, otherwise used in society
requires companies to risk profits in order to fix social impacts of products..
may impact shareholders
product placement refers to where products are placed in movies, opinion leaders wearing sponsored clothing etc.
related to social media - products are advertised
CSR aims to ensure that companies conduct their business in an ethical way, taking into account social and environment impact UNETHICAL PRACTICES
Creation of Marketing
Using Stereotypical images of males and females
Product placement (advertisements)
Invading privacy
Unfair Competition definitions :forbidden:
Cartel
: an agreement between 3-4 businesses who have monopoly power over types of goods and services available to the market (
monopolies are illegal
because its noncompetitive) -- [OPEC : Organization of Petroleum Exporting Countries]
Anti competitive agreements
: an industry group works together aiming for one member to be destroyed : 1 of groups submits a low tender while others tender high
Resale price maintenance
: failure to sell at the agreed price of the manufacturer means that the manufacturer may not sell to the retailer eg.
Samsung tells Harvey Norman to sell at a specific price, however they don't
- High price = high quality (brand image)
Exclusion dealing
: working with one person only which is anti competitive
Mergers
: they diminish the level of competition however if the merger didn't occur the product might not be available