Lecture 21 The Future of Marketing Flashcards
What is sustainable marketing?
This is socially and environmentally responsible marketing that meets the present needs of customers and businesses while also preserving or enhancing the ability of future generations to meet their needs
What does the societal marketing concept look at in terms of needs?
The future needs of customers and the current needs of the business
What does the marketing concept look at in terms of needs?
What the business and customers need now
What does the strategic planning concept look at in terms of needs?
What customers need now and what businesses need in the future
What does the sustainable marketing concept look at in terms of needs?
The future needs of the business and the customers
What are the negative impacts marketing has on individual consumers?
High prices Deceptive practices High-pressure selling Shoddy, harmful, or unsafe products Planned obsolescence Poor service to disadvantaged customers
What is the main complaint about high prices?
Prices are too high because of the costs of distribution, advertising and promotion and excessive markups
How should marketers respond to people complaining about high prices?
Intermediaries are important and offer value
Advertising informs buyers of availability and merits of a brand
Consumers don’t understand the cost of doing business
What are the 3 categories of deceptive practices?
Deceptive pricing
Deceptive promotion
Deceptive packaging
How can marketers respond to issues based on deceptive practices?
They can support legislation to protect consumers from deceptive practices and make lines clear
What is the main complaint about high pressure selling?
Sales people use high-pressure selling that persuades people to buy goods that they had no intention of buying
What should marketers respond to when people complain about high pressure selling?
Most selling involves building long-term relationships with valued customers. High pressure or deceptive selling can damage these relationships
What is the main complaint about shoddy, harmful or unsafe products?
Products have poor quality, provide little benefit and can be harmful
How should marketers respond to complaints about shoddy products?
Good marketers realise there is no value in marketing these products
How should marketers respond to complaints about producers causing their products to become obsolete?
Planned obsolescence is the result of a competitive market
How should marketers respond to complaints about poor service to disadvantaged customers?
Some marketers profitably target these customers and the FTC has taken action against those that do
What is the complaint about false wants?
The marketing system urges too much interest in material possessions
How should marketers respond to false wants complaints?
People do have strong defences against advertising and other marketing tools
What is the complaint about too few social goods?
Businesses oversell private goods at the expense of public goods
How should marketers respond to too few social goods complaints?
There needs to be a balance between public and private goods
What is the complaint about cultural pollution?
Marketing and advertising create cultural pollution
How do marketers respond to complaints about cultural pollution?
Marketing and advertising are planned to reach only a target audience and consumers have alternatives
What is consumerism?
This is the organised movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers
What are 3 traditional buyer’s rights?
The right not to buy a product that is offered for sale
The right to expect the product to be safe
The right to expect the product to perform as claimed
What rights do consumerism advocates call for?
The right to be…
Well informed about important aspects of the product
Protected against questionable products and marketing practices
To influence products and marketing practices in ways that will improve quality of life
To consumer now in a way that will preserve the world for future generations of consumers
What is environmentalism?
This is an organised movement of concerned citizens, businesses, and government agencies to protect and improve people’s living environment
What does environmental sustainability involve?
Earning profits while helping to save the planet
What 4 things are included in environmental sustainability?
Pollution prevention
Product stewardship
New clean technologies
Sustainability vision
What does pollution prevention involve?
Not just cleaning up waste but eliminating and minimising waste before it is created
What does product stewardship involve?
Minimising the pollution from production and all environmental impact throughout the full product cycle
What do new clean technologies involve?
Looking ahead and planning new technologies for competitive advantage
What is sustainability vision?
A guide to the future that shows the company that the company’s products, processes, and policies must evolve and what is needed to get there
What are 5 sustainable marketing principles?
Consumer oriented marketing Customer value marketing Innovative marketing Sense of mission marketing Societal marketing
What does consumer-oriented marketing do?
This views marketing activities from the consumer’s point of view.
Deliver superior value
What does consumer-value marketing do?
Invest in customer-value-building marketing
Creates value for customers
What is corporate marketing ethics?
These policies are broad guidelines that everyone in the organisation must follow that cover distributor relations, advertising standards, customer service, pricing, product development, and general ethical standards
What is the main belief of marketing?
That companies that fulfil the needs and wants of customers will thrive
What does a sustainable company do?
It goes beyond caring for the needs of today’s customers and has concern for tomorrow’s customers and the broader world
