chap3 - After studying this chapter, you should be able to:...

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After studying this chapter, you should be able to: 1. Understand that marketing’s contribution to society includes improving the efficiency and effectiveness of the economic process through the creation of exchanges, markets, products, and trading innovations. Explore why marketing is frequently criticized for socially irresponsible behavior. Marketing activities need to be efficient so that they do not waste scarce resources that will not be available to future generations. Marketing needs to be honest because markets are not efficient when they are dishonest. Marketing has a social contract to be concerned with the welfare of people in society. 2. Recognize why the self-centered behavior of millions of businesses and consumers around the world has a detrimental impact on supply and demand. The areas of clean air, fresh water, ample trees, the supply of fish, and other issues are important to all members of society. Sometimes businesses and people pursue their self-interests to the detriment of
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This note was uploaded on 02/20/2011 for the course MANA 6370 taught by Professor May during the Spring '10 term at University of Arkansas for Medical Sciences.

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chap3 - After studying this chapter, you should be able to:...

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