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Marketing 305, Ch 3 Notes

by: Brittany Smith

Marketing 305, Ch 3 Notes MKT 305

Marketplace > Colorado State University > Marketing > MKT 305 > Marketing 305 Ch 3 Notes
Brittany Smith
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About this Document

These notes cover in depth Chapter 3 which includes Environmental Scanning, Competitive Forces, Ethical Organization, Moral Philosophies, and Social Responsibility
Fundamentals of Marketing
James Cook
Class Notes
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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


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