MT1 - Chapter 20 Vocab

Question 1

sustainable marketing

Answer 1

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

Question 2

marketing concept

Answer 2

meeting the current needs of both customers and the company

Question 3

societal marketing concept

Answer 3

considers the future welfare of customers

Question 4

strategic planning concept

Answer 4

considers future company needs

Question 5

sustainable marketing concept

Answer 5

considers both the future welfare of customers and future company needs

Question 6

criticisms of high prices

Answer 6

high cost of distribution
high advertising and promotion costs
excessive markups

Question 7

deceptive pricing

Answer 7

practices such as falsely advertising factory or wholesale prices or a large price reduction from a phony high retail list price

Question 8

deceptive promotion

Answer 8

practices such as misrepresenting the product’s features or performance, or luring customers to a store for a bargain that is out of stock

Question 9

high pressure selling

Answer 9

persuading people to buy goods that they had no intention of buying

Question 10

planned obsolescence

Answer 10

causing a product to become obsolete before it actually needs replacement

Question 11

perceived obsolescence

Answer 11

continually changing consumer concepts of acceptable styles to encourage more and earlier buying

Question 12

redlining

Answer 12

drawing a red line around disadvantaged neighborhoods and avoiding placing stores there

Question 13

food deserts

Answer 13

areas with little to no access to healthy, affordable fresh foods

Question 14

cultural pollution

Answer 14

our senses are assaulted by marketing and advertising; commercials interrupt serious programs; billboards ruin beautiful scenery

Question 15

consumerism

Answer 15

an organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

Question 16

traditional sellers’ rights

Answer 16

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

Question 17

traditional buyers’ rights

Answer 17

not to buy a product offered for sale
expect the product to be safe
expect the product to perform as claimed

Question 18

additional consumer rights

Answer 18

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

Question 19

environmentalism

Answer 19

an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people’s current and future living environment

Question 20

environmental sustainability

Answer 20

a management approach that involves developing strategies that both sustain the environment and produce profits for the company

Question 21

pollution prevention

Answer 21

eliminating or reducing waste before it is created

Question 22

product stewardship

Answer 22

minimizing environmental impact throughout the entire product life cycle

Question 23

new clean technology

Answer 23

developing new sets of environmental skills and capabilities

Question 24

design for environment / cradle to cradle practices

Answer 24

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

Question 25

sustainability vision

Answer 25

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

Question 26

consumer oriented marketing

Answer 26

a principle of sustainable marketing that holds a company should view and organize its marketing activities from the consumer’s point of view

Question 27

sustainable marketing principles 5

Answer 27

consumer oriented marketing
customer value marketing
innovative marketing
sense of mission marketing
societal marketing

Question 28

customer value marketing

Answer 28

a principle of sustainable marketing holding that a company should put most of its resources into customer value building marketing investments

Question 29

innovative marketing

Answer 29

a principle of sustainable marketing that requires a company to seek real product and marketing improvements

Question 30

sense of mission marketing

Answer 30

a principle of sustainable marketing holding that a company should define its mission in broad social terms rather than narrow product teams

Question 31

societal marketing

Answer 31

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

Question 32

deficient products

Answer 32

have neither immediate appeal nor long run benefits

Question 33

pleasing products

Answer 33

give high immediate satisfaction but may hurt consumers in the long run

Question 34

salutary products

Answer 34

have low immediate appeal but may benefit consumers in the long run

Question 35

desirable products

Answer 35

give both high immediate satisfaction and high long run benefits

Question 36

corporate marketing ethics policies

Answer 36

broad guidelines that everyone in the organization must follow; should cover distributor regulations, advertising standards, customer service, pricing, product development, and general ethical standards

Question 37

American Marketing Association code of ethics

Answer 37

do no harm
foster trust in the marketing system
embrace ethical values