They include tweens teens and young adults They are very fluent and comfortable

They include tweens teens and young adults they are

This preview shows page 2 - 4 out of 5 pages.

They include tweens, teens and young adults. They are very fluent and comfortable with technology – known as the generation that has been formed by technology. They have significant purchasing power setting marketing trends. 4. Cause related marketing is when companies link themselves to a worthwhile cause by linking purchases of the products or services with fundraising for worthwhile causes or charitable organizations. It helps them exercise their social responsibility and build a more positive image. Some companies are founded entirely on cause related missions. Starbucks donates 10 cents of every beverage sold to team (RED) a fund to fight AIDS. Coca Cola has donated over $3 million from their sales (and has created awareness) to conserving polar bears. Companies participate in cause related marketing because they are able to not only “do good” but in turn it helps then to increase profits. It can benefit both the company as well as the cause. 2 | Ashley_Drover_A2
Image of page 2
5. Recently people have recognized that nature is finite and fragile and can be destroyed by human activities. The belief that nature is bountiful is disappearing. The renewed love of nature has created a new market, called "lifestyles of health and sustainability" (LOHAS), of consumers who seek organic and natural products, fuel-efficient cars, and alternative medicines. There are now niche marketers serving the LOHAS market and many other traditional chains also serving separate lines with organic products. Recently people have moved away from the view of mastering nature through technology and begun to think of nature as finite and susceptible to destruction by human activities. The renewed love of nature has created a new market, called "lifestyles of health and sustainability" (LOHAS), of consumers who seek organic and natural products, fuel-efficient cars, and alternative medicines. Niche marketers, such as Planet Organic Market, serve the new LOHAS market with organic offerings, while many traditional chains now market separate lines of organic products. 6. The sustainable marketing concept calls for 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. The marketing concept recognizes that organizations thrive from day to day by determining the current needs and wants of target groups and fulfilling those needs and wants more effectively then competitors do. Societal marketing considers the future welfare of consumers. Strategic planning concept considers the companies needs. 7. Deceptive marketing practices fall into three groups. Pricing, promotion and packaging. Deceptive pricing includes practices such as falsely advertising factory or wholesale prices or advertising a large price reduction from a phony high retail list price. Deceptive promotion includes practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock. Deceptive packaging includes exaggerating package contents through subtle design, using misleading labelling, or describing size in misleading terms 8. Consumerism is an organized movement of citizens and government agencies to improve the
Image of page 3
Image of page 4

You've reached the end of your free preview.

Want to read all 5 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes