Chapter 16 Flashcards
What does sustainable marketing require?
Socially
Environmentally
Ethically
responsible decisions that should
bring value to present-day consumers
& businesses but also future gen &
society as a whole.
What is sustainable marketing?
Meeting present needs of consumers and businesses while preserving/enhancing the ability of future generations to meet their needs
calls for socially & environmentally responsible actions meeting present AND future needs of consumers and the company
What does truly sustainable marketing require to work?
Smooth functioning marketing system in which consumers, companies, public policy makers & others work together to ensure responsible marketing actions
What are the critiques of marketing’s impact on individual consumer welfare?
High prices
Deceptive practices
High pressure selling
Shoddy/unsafe products
Planned obsolescence
Poor service to disadvantages consumers
What are the critiques of marketing’s impact on society?
Creating false wants and too much materialism, too few social goods, and cultural pollution
What are the critiques of marketing’s impact on other businesses?
Harming competitors and reducing competition through acquisitions
Practices creating barriers to entry
Unfair competitive marketing practices
What is consumerism?
Organized social movement intended to strengthen rights and power of consumers vs sellers
good marketers will see it as an opportunity to serve consumers better by providing more consumer info, education, and protection
What is environmentalism?
organized social mvmt to lower harm done to the environment and quality of life by marketing practices.
What is environmental sustainability?
Strategies that both sustain the environment and produce profits for the company
What was the first reaction of companies to these movements and laws? What is it now?
Resistance
Recognition of the need for positive consumer information, education, and protection
What should be the company’s objective when truly aiming for sustainability?
Supporting the best long-run performance of the marketing system.
What principles should guide a company’s marketing?
Consumer-oriented marketing
Customer value marketing
Innovative marketing
Sense-of-mission marketing
Societal marketing
What is consumer-oriented marketing?
What is customer value marketing?
What is innovative marketing?
