CONTEMP.MARKETING (LL) >CUSTOM<
18th Edition
ISBN: 9780357197295
Author: BOONE
Publisher: Cengage Learning
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Chapter 3.9, Problem 1LO
Summary Introduction
To discuss: The four dimensions of social responsibility
Social responsibility refers to accepting a commitment to give equal importance to the consumers’ satisfaction, profits, social well-being in determining the performance of the firm.
Expert Solution & Answer
Explanation of Solution
Diagrammatic representation:
Figure (1)
Philanthropic refers a company to be a good citizen. That is, they need to improve the quality of the consumers’ life by contributing resources.
Ethical refers to be ethical that is to avoid the harmful practices, obligation to work or do the right thing.
Legal refers to obey the laws
Economic refers to be profitable
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