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MKT1002 > Lecture 21 The Future of Marketing > Flashcards

Lecture 21 The Future of Marketing Flashcards

1
Q

What is sustainable marketing?

A

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

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2
Q

What does the societal marketing concept look at in terms of needs?

A

The future needs of customers and the current needs of the business

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3
Q

What does the marketing concept look at in terms of needs?

A

What the business and customers need now

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4
Q

What does the strategic planning concept look at in terms of needs?

A

What customers need now and what businesses need in the future

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5
Q

What does the sustainable marketing concept look at in terms of needs?

A

The future needs of the business and the customers

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6
Q

What are the negative impacts marketing has on individual consumers?

A 
High prices
Deceptive practices
High-pressure selling
Shoddy, harmful, or unsafe products
Planned obsolescence
Poor service to disadvantaged customers
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7
Q

What is the main complaint about high prices?

A

Prices are too high because of the costs of distribution, advertising and promotion and excessive markups

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8
Q

How should marketers respond to people complaining about high prices?

A

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

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9
Q

What are the 3 categories of deceptive practices?

A

Deceptive pricing
Deceptive promotion
Deceptive packaging

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10
Q

How can marketers respond to issues based on deceptive practices?

A

They can support legislation to protect consumers from deceptive practices and make lines clear

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11
Q

What is the main complaint about high pressure selling?

A

Sales people use high-pressure selling that persuades people to buy goods that they had no intention of buying

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12
Q

What should marketers respond to when people complain about high pressure selling?

A

Most selling involves building long-term relationships with valued customers. High pressure or deceptive selling can damage these relationships

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13
Q

What is the main complaint about shoddy, harmful or unsafe products?

A

Products have poor quality, provide little benefit and can be harmful

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14
Q

How should marketers respond to complaints about shoddy products?

A

Good marketers realise there is no value in marketing these products

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15
Q

How should marketers respond to complaints about producers causing their products to become obsolete?

A

Planned obsolescence is the result of a competitive market

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16
Q

How should marketers respond to complaints about poor service to disadvantaged customers?

A

Some marketers profitably target these customers and the FTC has taken action against those that do

17
Q

What is the complaint about false wants?

A

The marketing system urges too much interest in material possessions

18
Q

How should marketers respond to false wants complaints?

A

People do have strong defences against advertising and other marketing tools

19
Q

What is the complaint about too few social goods?

A

Businesses oversell private goods at the expense of public goods

20
Q

How should marketers respond to too few social goods complaints?

A

There needs to be a balance between public and private goods

21
Q

What is the complaint about cultural pollution?

A

Marketing and advertising create cultural pollution

22
Q

How do marketers respond to complaints about cultural pollution?

A

Marketing and advertising are planned to reach only a target audience and consumers have alternatives

23
Q

What is consumerism?

A

This is the organised movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers

24
Q

What are 3 traditional buyer’s rights?

A

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

25
Q

What rights do consumerism advocates call for?

A

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

26
Q

What is environmentalism?

A

This is an organised movement of concerned citizens, businesses, and government agencies to protect and improve people’s living environment

27
Q

What does environmental sustainability involve?

A

Earning profits while helping to save the planet

28
Q

What 4 things are included in environmental sustainability?

A

Pollution prevention
Product stewardship
New clean technologies
Sustainability vision

29
Q

What does pollution prevention involve?

A

Not just cleaning up waste but eliminating and minimising waste before it is created

30
Q

What does product stewardship involve?

A

Minimising the pollution from production and all environmental impact throughout the full product cycle

31
Q

What do new clean technologies involve?

A

Looking ahead and planning new technologies for competitive advantage

32
Q

What is sustainability vision?

A

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

33
Q

What are 5 sustainable marketing principles?

A 
Consumer oriented marketing
Customer value marketing
Innovative marketing
Sense of mission marketing
Societal marketing
34
Q

What does consumer-oriented marketing do?

A

This views marketing activities from the consumer’s point of view.
Deliver superior value

35
Q

What does consumer-value marketing do?

A

Invest in customer-value-building marketing

Creates value for customers

36
Q

What is corporate marketing ethics?

A

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

37
Q

What is the main belief of marketing?

A

That companies that fulfil the needs and wants of customers will thrive

38
Q

What does a sustainable company do?

A

It goes beyond caring for the needs of today’s customers and has concern for tomorrow’s customers and the broader world

MKT1002 (17 decks)

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