Marketing - A Closer Look at Business Education JANUARY...

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Unformatted text preview: A Closer Look at Business Education ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ JANUARY 2007 : MARKETING INTRODUCTION: In recent years, attention to social and environmental issues in product marketing has become a mainstream practice and offers opportunities for firms to differentiate themselves in the market. Popular examples abound: organic produce, hybrid cars, and fair trade coffee, to name just a few. While business coursework is quickly following practice in the field, our data show that a critical examination of the social impact of marketing is limited in some instances to issues of legality and ethics. When ethical concerns are raised, they are commonly discussed in the context of avoiding harmful marketing practices, especially prohibitive product pricing and deceptive advertising. On the other hand, international marketing classes do a good job of discussing socio-cultural considerations in the analysis of new target markets. It is noteworthy that a handful of MBA programs offer courses specifically addressing “social marketing”; that is, using concepts from commercial marketing, such as the traditional “four P’s” marketing mix (i.e., Product, Place, Promotion, and Pricing), to bring about social change. Also, academic research has highlighted the use of, and further potential for, social marketing for environmental causes. 1 A few of these forward-looking strategic marketing courses are highlighted in the “notable coursework” section below. THE BOTTOM LINE: ■ According to Dr. Bruce Hutton, several years ago topics related to the environment and social issues were considered “add-ons” and were included at the end of marketing texts. Now, these issues are better integrated throughout such texts. ■ There are many social impact management topics in marketing that are worthy of inclusion into coursework. Examples include the impacts of product development, design, and pricing decisions on both consumers and business sustainability, as well as the impacts of “niche marketing” on both target markets and sustainable competitive corporate strategy. A FACULTY POINT OF VIEW: Dr. Bruce Hutton is a Professor of Marketing at the Daniels College of Business at the University of Denver. He has also served as Dean and Chairman of the Marketing Department in his twenty years at Denver. Additionally, Dr. Hutton is a co-founder of the Colorado Ethics in Business Awards, a unique grassroots effort to recognize individuals, companies, and nonprofit organizations for ethics and socially responsible actions....
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Marketing - A Closer Look at Business Education JANUARY...

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