ABC OF BUSINESS ETHICS
What are the three "A's" in business ethics?
Applied, Above the Law, Aspirational
What is market research?
The process of gathering information about consumer needs and preferences
What is branding?
A name, symbol, or design that identifies and differentiates a company’s products/services
What is a target audience?
A group of people most likely to buy a product/service
This epic poem, written by Dante Alighieri, describes a journey through Hell, Purgatory, and Paradise.
The Divine Comedy
What does "Above the Law" mean in business ethics?
Going beyond legal requirements to act ethically
What are the two main types of market research?
Primary and Secondary Research
What was one of the first forms of branding?
Medieval guilds required craftsmen to put trademarks on their products
What is the main difference between customer archetype and buyer persona?
Customer archetype is a broad role/motivation, while buyer persona is a detailed fictional character with specific traits
This English playwright, known as "The Bard," wrote Romeo and Juliet and Hamlet.
William Shakespeare
What are the three "C's" in business ethics?
Consequences, compliance, contributions
Name two sources of primary research and two sources of secondary research
Primary: Surveys, Interviews. Secondary: Government data, Industry publications
What is the role of emotional connection in branding?
It creates customer loyalty and strengthens brand recognition, e.g., Coca-Cola and nostalgia
What type of information is included in an audience profile?
(Demographics, psychographics, goals, pain points, preferred channels)
This French novel by Victor Hugo tells the story of Jean Valjean and his struggle for redemption..
Les Miserables
What does “Beyond the Bottom Line” mean in business ethics?
Companies should consider environmental and social impacts, not just profits
Why do businesses usually start with secondary research before primary research?
It gives a general industry overview, is cheaper, and helps focus primary research efforts
What are three benefits of branding for a company?
Brand recognition, customer loyalty, ability to charge premium prices
What is segmentation in business?
Dividing a market into smaller groups based on shared characteristics
This Colombian author wrote One Hundred Years of Solitude, a novel about the Buendía family in the fictional town of Macondo
Gabriel Garcia Marquez
How can breaking new ground in ethics benefit a company?
It helps companies innovate, solve ethical dilemmas, and gain a competitive edge by being proactive instead of reactive
How has technology changed how businesses conduct market research?
Data analytics, AI-driven insights, social media tracking, and online surveys have made research faster and more accurate
What is the difference between branding for consumers and branding for companies?
Consumers see a brand as a product/service, while companies see it as an identity that sets them apart from competitors
What is the relationship between target audience, buyer persona, and customer archetype?
Target audience is a broad group, customer archetype defines their role, and buyer persona gives them a detailed identity
This Greek epic poem, attributed to Homer, tells the story of the Trojan War and the hero Achilles.
The Iliad