Marketing Week 4
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This 4 page Class Notes was uploaded by Janey Wensel on Thursday September 22, 2016. The Class Notes belongs to BUS243 at Chatham University taught by Deborah DeLong in Fall 2016. Since its upload, it has received 6 views. For similar materials see Principles of Marketing in Marketing at Chatham University.
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Date Created: 09/22/16
Marketing –– Chapter 16 Sustainable Marketing Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. *Marketers must think beyond immediate satisfaction and toward sustainable strategies that preserve the world for future generations* Marketing concept means meeting current needs of consumers and the N company but that can e Strategic Planning mean compromising the e Now Marketing future of both d Concept Concept Meeting current needs s in a way that preserves of Societal Needs of Sustainable the rightsNow futFuture C Future Marketing Marketing generations of o Concept Concept consumers and Societal marketing considers the future welfare of consumers Strategic planning considers the future company needs Sustainable marketing considers both Social Criticisms of Marketing Marketing Impact on Individual Consumers Consumers, government agencies, and other critics have accused marketing of harming consumers through high prices, deceptive practices, high- pressure selling, shoddy or unsafe products, planned obsolescene and poor service. High Prices- Marketing channels make up prices beyond value causing distribution to go up and consumers pay for the costs in the form of higher prices. Prices are also pushed up by unneeded advertising, promotions and packaging. Deceptive Practices- Practices that make consumers believe they are getting more value then they actually are by promotions, packaging, and pricing. Promotions: misrepresenting the products features or performances Packaging: exaggerating package contents through subtle design or using misleading labeling or terms Pricing: falsely advertising factory or whole sale prices or a large reduction from a high retail price High-pressure selling- persuades people to buy something they didn’t have intentions on buying Ex: Salespeople selling Insurance, real estate, and used cars Yet, marketers have little to gain, it can damage customer relationships Shoddy, Harmful, Unsafe Products- too often products and services are not made or do not perform well also poor quality control over product safety Planned Obsolescence- companies causing their products to become obsolete before they actually should need replacement; accused of using materials that will break, wear or rust sooner than they should causing you to buy more Poor Service to Disadvantage Consumers- smaller stores coming into small poor neighborhoods carrying goods that charge to much. Marketing Impacts on Society as a Whole Too much materialism Critics claim marketers put too much interest into material possessions and this possession is not sustainable, causing people to be judged but what they own rather than who they are. Too few social goods Overselling private goods at the expense of private goods. In order to have a private business you need the input of multiple public businesses. Cultural Pollution Critics feel our senses our constantly assaulted by marketing and advertising. Commercials interrupt every program, ads interrupt magazines, spam fills our emails. Marketing’s Impact on Other Businesses Critics claim that company’s marketing practices can harm other companies and reduce competition. They are harmed when companies expand by gaining competitors rather than developing their own products, also companies can tie up suppliers and take competition by their patents and heavy promotions. In virtually every major industry young competitors will be absorbed. Consumer Actions to Promote Sustainable Marketing Consumers play just as an important role as businesses, consumers have begun movements to keep companies in line. Consumerism Environmentalism Consumerism- an organized movement to improve the rights and power of buyers in the relationship to sellers. It includes both sellers and buyers rights, consumers have not only the right but the responsibility to protect themselves. Environmentalism- an organized movement to protect and improve people’s current and future living environment A movement wanting people and organizations to operate with more care for the environment, doing away with ‘mindless consumption’. Environment Sustainability is about getting generating profits while helping to save the planet. Grid to gauge progress toward environmental sustainability Today: Greening Tomorrow: Beyond Greening Pollution Prevention New clean technology Internal Eliminating waste Developing new sets of before it’s created environmental skills and capabilities Product Stewardship Sustainability Vision External Minimizing Developing a strategy environmental impact framework for creating throughout the entire sustainable value product life cycle Public Action to Regulate Marketing If enough citizens are concerned about marketing practices it will lead to public attention and proposed laws. Sustainable Marketing Principles Consumer-Oriented Marketing- the company should view and organize its marketing activities from the consumer’s point of view. Working hard to sense and serve, and satisfy the needs of a group of customers Customer Value Marketing- the company should put most of its resources into customer value-building marketing investments. One-shot sales promotions, cosmetic product changes, direct response advertising. Innovative Marketing- requires the company to continuously seek real product and marketing improvements, always looking for bigger and better. Sense-of-Mission Marketing- the company should define its mission in broad social terms rather than narrow product terms. Defining social brand missions. Societal Marketing A company should make marketing decisions by considering consumers’ wants, the company’s requirements, consumers long-term interests, and society’s long-run interests. Deficient products- have neither immediate appeal nor long-run benefits (bad medicine) Pleasing Products- give high immediate satisfaction but may hurt consumers in the long run (cigarettes or junk food) Salutary Products- have low immediate appeal but may benefit consumers in the long run (helmets or insurance) Desirable Products- give both high immediate satisfaction and high long-run benefits (tasty and nutritious foods) Marketing “Code of Ethics” Example Do no harm Foster trust in the marketing system Embrace ethical values
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