Week 10 - sustainable marketing Flashcards
define 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
define the marketing concept:
philosophy of customer value and mutual gain. Its practice leads the economy by an invisible hand to satisfy the many and changing needs of millions of consumers
explain sustainable marketing principles
5.)
consumer oriented marketing = company should view and organise activities from consumers point of view
customer value marketing = company should put most of it’s resources into customer value building marketing investments
innovative marketing = company should seek real product and marketing improvements
sense of mission marketing = company should define the mission in broad social terms rather than narrow product terms
Societal marketing = organisation should make decisions by considering consumers wants the organisations requirements and the long running interest of consumers and society
define ethical approach
organisations recognise marketing is to be enlightened by societies views and ethical standards as a whole
explain legal education
All marketers need to learn about legal compliance. In the past, the courts have commented adversely where firms have avoided their responsibility in this regard.
Define legal compliance
A system designed to identify, manage and reduce the risk of breaking the law.
explain competition law
Prohibits various forms of anti-competitive conduct, such as: price fixing misuse of market power Vertical/horizontal price maintenance resale price maintenance exclusive dealing
explain intellectual property
Intellectual property (IP) law involves such areas as copyright, trademarks, patents, designs, trade secrets and domain names. Copyright Design Trademarks Patents Circuit Layouts Act 1989 Confidential Information
