Marketing 101 Chapter 16

Marketing Concepts
1. Marketing concept – customer value and mutual gain (now, now)

2. Strategic planning concept – future company needs (now, future)

3. Societal marketing concept – future needs of consumers (future, now)

4. Sustainable marketing concept

Sustainable marketing
socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enchasing the ability of future generations to meet their needs.
Criticisms of marketing
1. high price
2. deceptive practices
3. high pressure selling
4. unsafe products
5 .planned obsolescence
6. poor service to disadvantaged customers
high cost
o cost of distribution – too many intermediaries
o high advertising/promotion – no functional value add
o excessive markups
deceptive practices
o deceptive pricing
o deceptive promotion
o deceptive packaging
consumerism
movement of citizens and govt to improve the rights and power of buyers
environmentalism
movement designed to protect the people’s current and future living environment
environmental stability
– mgmt approach that develops strategies that sustain the environment and profits

• Greening- green activites that will pay off in short run
• Beyond greening- long run benefits for green activities
• Pollution prevention- eliminating waste before created
• Product stewardship- minimizing impact throughout whole product life cycle
• New clean tech- developing new sets of skills
• Sustainability vision- creating a strategic framework for future sustainability.

Consumer oriented marketing
– company should view/organize its activities from customer’s point of view
Innovative marketing
company must seek real product and marketing improvements
Sense of mission marketing
define its mission in broad social terms rather than narrow product terms
Societal marketing
make mktg decisions by considering consumer’s wants, company’s requirements, consumer’s long run interests an society’s long run interests
types of products
Deficient products- neither immediate appeal nor long run benefits.
o Pleasing products- immediate appeal but bad long run
o Salutary products- low immediate appeal, good long run
o Desirable products- both high immediate and long run
ethical norms
do no harm
Foster trust in the marketing system
Embrace ethical values
ethical values
FTC HRR
Honesty – be forthright in dealings with all stakeholders
Responsibility – accept consequences of marketing decisions
Fairness – balance needs of buyers and sellers
Respect – acknowledge human dignity of all stakeholders
Transparency – openness in marketing operations
Citizenship – fulfill economic, legal, philanthropic, and societal responsibilities
triple bottom line
• People – Social
• Planet – Environmental
• Profits – Economic