Chapter 20 - Summary Principles of Marketing PDF

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Summary

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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  Considers future welfare of consumers and company

Consumer ...

Description

09/14/2015 

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  Considers future welfare of consumers and company  

Consumer advocates, government agencies, and critics accuse marketing of of harming consumers through high prices, deceptive practices, high pressure selling, shoddy or unsafe products, planned obsolescence, and poor service to disadvantaged customers  High prices- high costs of distribution, high advertising and promotion costs, and excessive markups o Intermediaries provide more convenience, larger stores and assortments, more service, longer hours, return privileges o Marketing adds value by informing potential buyers of availability and merits 

Deceptive pricing, deceptive promotion, deceptive packaging

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Marketing’s Impact on Society as a Whole  False wants and too much materialism  Overselling private goods at the expense of public goods and social goods  Cultural pollution

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Marketing Impact on Other businesses  Marketing practices can harm other companies and reduce competition  Acquisitions of customers, marketing that creates barriers to entry, and unfair competitive marketing practices

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Consumer Actions to Promote Sustainable Marketing  Consumerism- organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers

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Environmentalism- an organized movement of concerned citizens, businesses and government agencies designed to protect and improve peoples current and future living environments

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Business Actions toward sustainable marketing  Consumer oriented marketing- company should view and organize its marketing activities from the consumer’s point of view  Customer value marketing- the company should put most of its resources into customer value building marketing investments 

Innovative marketing- company continuously seeks real product and marketing improvements

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Sense of mission marketing- company should define its mission in broad social terms rather than narrow product terms

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Societal marketing- a company makes marketing decisions by considering consumer watns, the companys requiremnens, consumers long term interests, and societys long run interests  Deficient products, pleasing products, salutary products, desirable products

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