marketing 7-9 - Marketing Chapter 4 Plumpy nut-page 93 Most...

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Marketing Chapter 4 Plumpy nut-page 93 Most marketers operate responsibly and within the limits of the law Issues of social responsibility and marketing ethics h Questionable selling practices h Bribery h Price discrimination h Deceptive advertising -Causes consumers to become defensive toward all promotional messages and distrustful of all advertising, hurts consumers and marketers. -Raise questions about marketer’s obligation to society. h Misleading packaging h Marketing defective products. Social responsibility-An organization’s obligation to maximize its positive impact and minimize its negative impact on society. -Deals with total effect of all marketing decisions on society. -Includes the managerial process needed to monitor, satisfy, and even exceed stakeholder expectations and needs. -Ignoring stakeholders demand for responsible marketing can destroy customer’s trust and even prompt government regulations. -Jeopardize marketer’s reputation and legal repercussions. PepsiCo-future companies will have to “do better by doing better” -In harmony with “employees, regulators, consumers, customers, communities, and many other stakeholders, it will leave no doubt that performance without purpose is not a long-term sustainable formula.” Purdue Pharma-Painkiller OxyContin (3 executives) -Pled guilty to criminal charges of misleading consumers and physicians. -Promoted painkiller as being less likely to be abused than traditional narcotic medications because of its time-release formulation. -$600 million in criminal fines and executives paid $34.5 million. -Millions of dollars in lawsuits from addicted patients. Breast Cancer Awareness Crusade- positive publicity -Sponsored by Avon products -Raised $450 million -Increased company sales
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-Attracting goodwill, publicity, potential customers and employees -Indirect long-term benefits Dimensions of Social Responsibility Marketing Citizenship-The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders. (Pyramid of Corporate Social Responsibility page 96) -Economic and legal aspects have long been acknowledged, whereas ethical and philanthropic issues have gained recognition more recently. -At the most basic level, all companies have an economic responsibility to be profitable so they can provide a return on an investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy. Stakeholder Orientation-Consider the diverse perspectives of stakeholders in their daily operations and strategic planning. -Goes beyond customers, competitors, and regulators -Understanding and addressing the needs of all stakeholders, including communities and special interest groups -Demonstrate a balanced perspective on stakeholder’s interest Pfizer-secured stakeholder input on a number of issues including rising health-care costs and health-care reform Economic Responsibility *How organizations relate to stakeholders, employees, competitors, customers, the
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This note was uploaded on 07/31/2011 for the course NUTRITION 101 taught by Professor Zahora during the Spring '11 term at Gardner-Webb.

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marketing 7-9 - Marketing Chapter 4 Plumpy nut-page 93 Most...

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