Chapter 20 - Marketing Ethics and Social Responsibility 20...

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Unformatted text preview: Marketing Ethics and Social Responsibility 20 20 Principles of Marketing Learning Objectives After studying this chapter, you should be able to: 1. Identify the major social criticisms of marketing 2. Define consumerism and environmentalism and explain how they affect marketing strategies 3. Describe the principles of socially responsible marketing 4. Explain the role of ethics in marketing 20-2 Chapter Outline 1. Social Criticisms of Marketing 2. Citizen and Public Actions to Regulate Marketing 3. Business Actions Toward Socially Responsible Marketing 20-3 Social Criticisms of Marketing Marketings Impact on Individual Consumers High cost of distribution High advertising and promotion costs Excessive markups Deceptive practices 20-4 Social Criticisms of Marketing Complaint: Intermediaries mark up prices beyond their value due to inefficiencies and unnecessary or duplicative services Response: Markups reflect the cost of the services that consumers expect Convenience Larger stores and assortments More service Return privileges 20-5 Marketings Impact on Individual Consumers High Cost of Distribution Social Criticisms of Marketing Complaint: Prices are inflated to absorb advertising and sales promotion costs, and packaging only adds to the psychological, not functional, value of the product Response: Advertising does add to product cost but also to product value by informing potential customers of the availability and merits of the product 20-6 Marketings Impact on Individual Consumers High Advertising and Promotion costs Social Criticisms of Marketing Complaint: Companies mark up products excessively Response: Most businesses try to deal fairly with consumers because they want to build relationships and repeat business 20-7 Marketings Impact on Individual Consumers Excessive Markups Social Criticisms of Marketing Marketings Impact on Individual Consumers Deceptive Practices Complaint: Companies use deceptive practices that lead customers to believe they will get more value than they actually do. These practices fall into three categories: Deceptive pricing Deceptive promotion Deceptive packaging 20-8 Social Criticisms of Marketing Marketings Impact on Individual Consumers Deceptive Practices Deceptive pricing includes practices such as falsely advertising factory or wholesale prices or a large price reduction from a phony high retail list price Deceptive promotion includes practices such as misrepresenting the products features or performance or luring the customer to the store for a bargain that is out of stock Deceptive packaging includes exaggerating packaging contents...
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This note was uploaded on 04/08/2011 for the course BUS 312 taught by Professor Wittenberg,h during the Spring '08 term at University of Hawaii, Manoa.

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Chapter 20 - Marketing Ethics and Social Responsibility 20...

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