MT1 - Chapter 20 Vocab Flashcards
sustainable marketing
socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs
marketing concept
meeting the current needs of both customers and the company
societal marketing concept
considers the future welfare of customers
strategic planning concept
considers future company needs
sustainable marketing concept
considers both the future welfare of customers and future company needs
criticisms of high prices
high cost of distribution
high advertising and promotion costs
excessive markups
deceptive pricing
practices such as falsely advertising factory or wholesale prices or a large price reduction from a phony high retail list price
deceptive promotion
practices such as misrepresenting the product’s features or performance, or luring customers to a store for a bargain that is out of stock
high pressure selling
persuading people to buy goods that they had no intention of buying
planned obsolescence
causing a product to become obsolete before it actually needs replacement
perceived obsolescence
continually changing consumer concepts of acceptable styles to encourage more and earlier buying
redlining
drawing a red line around disadvantaged neighborhoods and avoiding placing stores there
food deserts
areas with little to no access to healthy, affordable fresh foods
cultural pollution
our senses are assaulted by marketing and advertising; commercials interrupt serious programs; billboards ruin beautiful scenery
consumerism
an organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers
traditional sellers’ rights
introduce any product in any size and style, provided it is not hazardous to personal safety or health (or include proper warnings if it is)
charge any price for the product, as long as there is no discrimination between similar buyers
spend any amount to promote the product, provided it is not defined as unfair competition
use any product message, as long as it is not misleading or dishonest in content or execution
use buying incentive programs, as long as they are not unfair or misleading
traditional buyers’ rights
not to buy a product offered for sale
expect the product to be safe
expect the product to perform as claimed
additional consumer rights
be well informed about important aspects of the product
be protected against questionable products and marketing practices
influence products and marketing practices in ways that improve quality of life
consume now in a way that will preserve the world for future generations of consumers
environmentalism
an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people’s current and future living environment
environmental sustainability
a management approach that involves developing strategies that both sustain the environment and produce profits for the company
pollution prevention
eliminating or reducing waste before it is created
product stewardship
minimizing environmental impact throughout the entire product life cycle
new clean technology
developing new sets of environmental skills and capabilities
design for environment / cradle to cradle practices
thinking ahead to design products that are easier to recover, reuse, recycle, or safely return to nature after usage, thus becoming part of the ecological cycle
sustainability vision
creating a strategic framework for future sustainability
serves as a guide to the future and how a company’s products and services, processes, and policies must evolve and what new technologies must be developed to get there
consumer oriented marketing
a principle of sustainable marketing that holds a company should view and organize its marketing activities from the consumer’s point of view
sustainable marketing principles 5
consumer oriented marketing customer value marketing innovative marketing sense of mission marketing societal marketing
customer value marketing
a principle of sustainable marketing holding that a company should put most of its resources into customer value building marketing investments
innovative marketing
a principle of sustainable marketing that requires a company to seek real product and marketing improvements
sense of mission marketing
a principle of sustainable marketing holding that a company should define its mission in broad social terms rather than narrow product teams
societal marketing
a principle of sustainable marketing holding that a company should make marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests
deficient products
have neither immediate appeal nor long run benefits
pleasing products
give high immediate satisfaction but may hurt consumers in the long run
salutary products
have low immediate appeal but may benefit consumers in the long run
desirable products
give both high immediate satisfaction and high long run benefits
corporate marketing ethics policies
broad guidelines that everyone in the organization must follow; should cover distributor regulations, advertising standards, customer service, pricing, product development, and general ethical standards
American Marketing Association code of ethics
do no harm
foster trust in the marketing system
embrace ethical values
