The task is to translate these laws into the language marketing execs

The task is to translate these laws into the language

This preview shows page 12 - 15 out of 16 pages.

The task is to translate these laws into the language marketing execs understand as they make decisions about competitive relations, products, price, promotion, and channels of distribution Business Actions Toward Sustainable Marketing At first, many companies opposed the idea of social and sustainable marketing They thought the criticism from consumer and environmental activists were either unfair or unimportant But most companies have now grown to embrace the new consumer rights, at least in principle Sustainable Marketing Principles A company’s marketing should support the best long-run performance of the marketing system It should be guided by 5 sustainable marketing principles: o 1. Consumer-oriented marketing o 2. Customer-value marketing o 3. Innovative marketing o 4. Sense-of-mission marketing o 5. Social marketing Consumer-Oriented Marketing Consumer-oriented marketing: a company should view and organize its marketing activities from the consumer’s point of view
Image of page 12
o Should work hard to sense, serve, and satisfy the needs of a defined group of customers, both now and in the future Only by seeing the world through its customers’ eyes can a company build lasting and profitable customer relationships Customer-Value Marketing Company should put most of its resources into customer-value building marketing investments By creating value FOR customers, the company can capture value FROM customers in return Innovative Marketing Company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way o Ex: Nike Sense-of-Mission Marketing Sense-of-mission marketing : a company should define its mission in broad social terms rather than narrow product terms When a company defines a social mission, employees feel better about their work and have a clearer sense of direction o Ex: outdoor apparel and equipment maker Patagonia even goes so far as to urge customers to buy less of its merch “Conscious consumption”- asking customers to think before they buy and to stop consuming for consumption’s sake Making, buying, repairing, and reusing high-quality goods results in less consumption, which in turn uses fewer resources and lowers costs for everyone Societal Marketing Societal Marketing: a company makes marketing decisions by considering consumers’ wants and interests, the company’s requirements, and society’s long-run interests
Image of page 13
Sustainable marketing calls for products that are not only pleasing but also beneficial Deficient products o Ex: bad-tasting and ineffective medicine o Do not have immediate appeal or long-run benefits Pleasing products o Give high immediate satisfaction but may hurt consumers in the long run o Ex: cigarettes and junk food Salutary products o Low immediate appeal but may benefit consumers in the long run o Ex: bike helmets or insurance products o Challenge posed is to add some pleasing qualities so they will become more desirable in consumers’ minds Desirable products o Have high immediate satisfaction and high long-run benefits o
Image of page 14
Image of page 15

You've reached the end of your free preview.

Want to read all 16 pages?

  • Spring '15
  • Marketing,  Companies,  Marketers

  • 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