Comm 296 - Chapter 3

Comm 296 - Chapter 3 - Comm 296 Chapter 3: Sustainable...

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Comm 296 Chapter 3: Sustainable Marketing Social Responsibility and Ethics SUSTAINABLE MARKETING Sustainable marketing : socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs - Marketing concept : fulfilling target customers’ needs/wants more effectively and efficiently than competitors do; fulfill company’s short-term goals - Societal marketing concept : consider future welfare of consumers - Strategic planning concept : consider future company needs - Sustainable marketing concept : considers current and future needs of consumers and customers - Entirety of market (consumers, companies, policy-makers) have to work together to ensure socially and environmentally responsible marketing actions o Doesn’t always happen SOCIAL CRITICISMS OF MARKETING - May hurt consumers, society, and other business firms MARKETING’S IMPACT ON INDIVIDUAL CUSTOMERS - In general, marketing is viewed negatively by consumers due to the following: o Marketer’s response: MR - High prices (consumers pay for these costs) o High costs of distribution (inefficient channel intermediaries/resellers) MR: intermediaries provide services that manufacturers/consumers otherwise have to do; high competition between resellers force them to be efficient and keep costs low o High advertising and promotion costs (promotion and packaging costs – only adds psychological value) MR: branded products costs more but provides assurance, information; psychological benefits; necessary for firms to match competition o Excessive markups (manipulating/deceiving pricing tactics) MR: don’t intend to do so, want to be fair to maintain customer relationships; high markups may be do to other costs consumers are unaware of - Deceptive practices o Pricing : falsely advertising cheaper/discounted prices from a phony high retail list price o Promotion: misrepresenting product’s performance; luring customers to store for product that is out of stock
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This note was uploaded on 12/07/2011 for the course COMM 296 taught by Professor Dasgupta during the Winter '08 term at UBC.

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Comm 296 - Chapter 3 - Comm 296 Chapter 3: Sustainable...

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