16.4 Business Actions toward Sustainable Marketing Flashcards
What is the primary goal of sustainable marketing?
To support the best long-run performance of the marketing system.
What are the five sustainable marketing principles?
Consumer-oriented marketing
Customer value marketing
Innovative marketing
Sense-of-mission marketing
Societal marketing
What is consumer-oriented marketing?
Viewing and organizing marketing activities from the consumer’s point of view, working to sense, serve, and satisfy the needs of a defined group of customers.
What is customer value marketing?
Focusing resources on customer value-building marketing investments, aiming for long-run consumer engagement, loyalty, and relationships by continuously improving the value consumers receive.
What is innovative marketing?
Continuously seeking real product and marketing improvements to avoid losing customers to competitors who have found better ways to create customer value.
What is sense-of-mission marketing?
Defining a company’s mission in broad social terms rather than narrow product terms, so employees feel better about their work and brands serve the best long-run interests of both themselves and consumers.
What is an example of a company using sense-of-mission marketing?
Pedigree, which defines its mission as loving and caring for dogs rather than simply making dog food, and supports programs to help shelter dogs find homes.
What challenges do companies with a double bottom line of values and profits face?
Balancing the need to make a profit with their commitment to social and environmental responsibility, which can sometimes result in less-than-stellar financial returns.
What is the principle of societal marketing?
Making marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.
What are the four classifications of products based on immediate consumer satisfaction and long-run consumer benefits?
Deficient products
Pleasing products
Salutary products
Desirable products
What are deficient products?
Products with neither immediate appeal nor long-run benefits, such as bad-tasting and ineffective medicine.
What are pleasing products?
Products with high immediate satisfaction but may hurt consumers in the long run, such as cigarettes and junk food.
What are salutary products?
Products with low immediate appeal but may benefit consumers in the long run, such as bicycle helmets or some insurance products.
What are desirable products?
Products with high immediate satisfaction and high long-run benefits, such as tasty and nutritious breakfast food.
What is an example of a company turning a salutary product into a desirable product?
Method, a brand that produces household and personal cleaning products made from naturally derived, biodegradable, and nontoxic ingredients, while also emphasizing beautiful design and environmental responsibility.
Figure 16.4 Societal Classification of Products
