Marketing 305, Ch 3 Notes
Marketing 305, Ch 3 Notes MKT 305
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This 3 page Class Notes was uploaded by Brittany Smith on Saturday October 1, 2016. The Class Notes belongs to MKT 305 at Colorado State University taught by James Cook in Fall 2016. Since its upload, it has received 7 views. For similar materials see Fundamentals of Marketing in Marketing at Colorado State University.
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Date Created: 10/01/16
Fundamentals of Marketing Chapter 3 Environmental Scanning Environmental scanning is difficult because change is happening so fast and there are so many aspects to focus on Information v. Knowledge o Information – simply facts (whether true or not), not necessarily applicable o Knowledge – understanding, applying, uses information Social Forces o Age o Ethnicity o Cultural Trends o Fashion o Behavior Economic Forces o Macro v. Micro Economics Macro – big picture, focuses on the system as a whole (national, state, city levels) Micro – little picture, focuses on individual firms (me, you, individual businesses) o Micro Gross Income Disposable Income Discretionary Income o Example Gross Income = $10,000 offered with tax benefits Disposable Income = $7,500 paycheck after tax deductions Discretionary Income = $2,000 left over after bills paid Takes into account outside factors that effect discretionary income Little discretionary income directly affects businesses Technological Environmental Legal Political Competitive Forces Pure Competition o Intense o Aggressive Monopoly o One business o No competition o Not as aggressive o “Awareness” No convincing necessary Oligarchy o Only a few businesses/providers o Example Airlines United, American Airlines, South West Cellphones Verizon, Sprint, TMobile Five Ways to Ensure Ethical Organization Leadership by Example o Code won’t matter unless there’s great leadership Code of Ethics o Core values of organization o Nonnegotiable o If it’s not actualized through policy and procedures, than it’s simply another paper on the wall o Code of ethics are broad statements o Policy is more specific Lists right and wrong behavior specifically o First Code of Ethics, then Policy, then Procedures (Process) Ehtics Training o Should happened at beginning of employment and shoulb be periodic after Online and facetoface Quick and Meaningful ethics discipline o If your found to be in violation, consequences should quickly follow violation No surprises o Educate with consequence/punishment Ethics Committee o Formulate/Revise Code, Policy, and Procedures o Disciplinary Board (generally at appeal capacity) o Assessment and Training More of a consultant role Moral Philosophies Moral Idealism o Absolute truth, rights, and wrongs o As the U.S. becomes more pluralistic, it’s harder to establish moral idealism Utilitarianism o Whatever is right/good is right/good for most people o Practical Problems What is the questions of ethics? For feedback? Same unilateral understanding? Who writes the question? The government is the only big enough entity to write questions to mass amounts of people What is a majority? Categorical Imperative o “I will act in a manner in which I wish you would act” Golden Rule Prima facie obligation o Competing goods (as in behavior, not materialistic goods) o Sometimes have to choose better good (behavior) Social Responsibility Legal/Ethical Responsibility o Most important, need this for the next two responsibility to be important Profit responsibility o Within the parameter of law and ethics Stakeholder responsibility o Providing customers with safe product o Providing employees with a safe place to work o Providing employees with fair compensation