Marketing chapters 4-6

Marketing chapters 4-6 - Marketing Chapter 4 Plumpy...

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Unformatted text preview: 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 Questionable selling practices Bribery Price discrimination Deceptive advertising-Causes consumers to become defensive toward all promotional messages and distrustful of all advertising, hurts consumers and marketers.-Raise questions about marketers obligation to society. Misleading packaging Marketing defective products. Social responsibility- An organizations 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 customers trust and even prompt government regulations.-Jeopardize marketers 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 crim inal charges of m isleading consumers and physicians.-Promoted painkiller as being less likely to be abused than t radit ional narcotic medications because of its t ime-release formulation.-$600 m illion in crim inal fines and executives paid $34.5 m illion.-Millions of dollars in lawsuits from addicted patients. Breast Cancer Awareness Crusade- positive publicity -Sponsored by Avon products -Raised $450 m illion-Increased company sales-At t racting 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 stakeholders 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,...
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Marketing chapters 4-6 - Marketing Chapter 4 Plumpy...

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