Chapter 12 (Developments in Marketing) Flashcards
What is social marketing, and what are its key attributes?
Definition: Encourages behavior change for the good of society.
Key attributes:
Focuses on audience-specific messages.
Shows benefits over costs of change.
Targets specific groups for better impact.
What is internal marketing, and what are its benefits?
Definition: Focuses on keeping employees engaged and aligned with company goals.
Benefits:
Increases employee loyalty and motivation.
Improves customer service and teamwork.
Boosts innovation and employee morale.
What activities make internal marketing effective?
Communication: Keep employees informed.
Training: Help employees grow their skills.
Rewards: Recognize and reward achievements.
What are the features of internal marketing?
Employee Engagement: Align employee goals with company goals.
Internal Communication: Keep employees informed.
Training and Development: Offer learning opportunities.
Employee Motivation and Recognition: Recognize efforts to boost morale.
What is the purpose of internal marketing?
Enhance employee satisfaction.
Align employees with organizational goals.
Improve service quality and foster a strong organizational culture.
What are the characteristics of CSR (Corporate Social Responsibility)?
Ethical practices: Fair treatment and compliance with laws.
Sustainability: Reducing environmental impact.
Community engagement: Charity and partnerships.
What are the formal and informal dimensions of CSR?
Formal: Ethical policies, CSR programs, compliance, and reporting.
Informal: Leadership setting an ethical tone, employees acting on values, and positive community engagement.
What is the market approach to brand valuation?
Values a brand by comparing it to similar brands.
Uses financial metrics (e.g., revenue) and adjusts for differences in brand strength and market position.
What are the key strategies for non-profit marketing?
Use social media, events, and storytelling to raise awareness.
Build trust and credibility.
Use content marketing, email campaigns, and partnerships to engage supporters and increase donations.
What factors affect social responsibility?
Ethics and moral principles.
Stakeholder expectations.
Laws and regulations.
Market competition.
Company culture and global impact.
How does buying behavior differ for cigarettes and candies?
Cigarettes: Habit, brand loyalty, price, and social influences drive purchases, often ignoring health concerns.
Candies: Impulse buys, influenced by cravings, packaging, and special events, with kids and nostalgia playing key roles.
What are the key functions of SECP in Pakistan?
Regulation: Creates rules for market operations.
Oversight: Monitors compliance.
Market Development: Promotes growth through policies.
Enforcement: Investigates violations and imposes penalties.
What are the four components of internal marketing?
Communication: Clear, consistent messaging.
Motivation: Keeping employees engaged.
Training: Skill development.
Recognition: Rewarding efforts.
