5 sustainable marketing principles consumer oriented

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5 sustainable marketing principles: - Consumer-oriented marketing o Firm should view and organize marketing activities from consumers’ point of view o Passionate about delivering superior value to targeted customers - Customer-value marketing o Firm should direct most of its resources into customer-value-building marketing investments
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Comm 296 Chapter 3: Sustainable Marketing Social Responsibility and Ethics o Enlightened marketing – provide value to consumers long-run consumer loyalty Create value for consumers, then capture value from consumers - Innovative marketing o Firm should continuously seek improvements - Sense-of-mission marketing o Firm should define mission in broad social terms rather than narrow product terms o Can better serve employees, brand and consumers o Firms must be socially responsible but profitable as well - Societal marketing o Consider consumer, company and society interests - Different types of products: o Deficient products : no immediate appeal or long-run benefits o Pleasing products : high immediate satisfaction but long-run harm o Salutary products : low immediate appeal but long-run benefits o *Desirable products : high immediate satisfaction and high long-run benefits MARKETING ETHICS - Sustainable marketing can only be achieved through ethical marketing practices - Corporate marketing ethics policies : broad guidelines for organization to follow - Table 3.1 Page 102 - Struggle between immediate profitability and morality of issue - Different ways to guide: o Follow free-market and legal system o Have a “social conscience” regardless of legal system - International firms should have a common set of shared standards worldwide - Need total corporate commitment – incorporate ethics into company culture THE SUSTAINABLE COMPANY - Create value for customers through socially, environmentally and ethically responsible actions - Concerned about today’s customers as well as future generations
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