MKT Ch. 16

Meeting the present needs of consumers while preserving the ability of future generations to meet needds
Sustainable marketing
Specifically focuses on future company needs, but not on future customer needs
Strategic planning concept
Specifically focuses on future customer needs, but not on future business needs
Societal marketing concept
Recognizes that organizations thrive from day to day by determining current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than the competition
Marketing concept
Focuses on meeting a company’s short term sales, growth, and profit needs by giving customers what they want now
Marketing concept
A common criticism of the marketing system is that intermediaries…
are typically inefficient
A major step in regulating unfair or deceptive acts of practices was the enactment of the
Wheeler-Lea
Persuading people to buy goods they had not thought of buying
High-pressure selling
Critics claim that companies in this industry are more likely to introduce planned streams of new products that make older models obsolete
Consumer electronics
T/F: Deceptive promotion involves falsely advertising a large price reduction from a phony high retail list price
False
T/F: Deceptive packaging includes exaggerating package contents through subtle design and misleading lables
True
T/F: The presence of large national chain stores in low-income neighborhoods would most likely help to keep prices down
True
T/F: Marketers are most effective when they attempt to create new wants rather than when they appeal to existing ones
False
T/F: Marketing critics claim that the overseeing of private goods results in social costs
True
The two major citizen action movements to keep businesses in line are
Environmentalism and consumerism
Organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers
Consumerism
A traditional right of sellers
The right to introduce any produce in any size and style, provided it is not hazardous to personal health or safety
A traditional right of buyers
The right not to buy a product that is offered for sale
Environmentalists assert that the marketing system’s goals should be to maximize:
Life quality
A management approach that involves developing strategies that both support the ecological balance and produce profits for the company
Environmental sustainability
Calls for “green marketing” programs that develop ecologically safer products, recyclables and biodegradable packaging, and more energy-efficiton operations
Pollution prevention
Involves minimizing pollution from production and all environmental impacts throughout the life cycle of goods
Product stewardship
Involves thinking ahead to create products that are easier to recover, reuse, recycle, or safely return to nature after usage, thus becoming part of the ecological cycle
Design for environment
Serves as a guide to the future, laying out how a company’s products and services, processes, and policies must evolve and what new technologies must be developed to get there
Sustainability vision
T/F: The management strategy of environmental sustainability focuses on developing ways to support the environment while also producing profits
True
Concept that holds that a company’s marketing should support the best long-run performance of the marketing system
Sustainable marketing
Making marketing decisions by considering consumers’ wants and interests, the company’s requirements, and society’s long-run interests
Societal marketing
Products that give high immediate satisfaction but may hurt consumers in the long run
Pleasing products
Beverages that are high in sugar
Pleasing products
Products that give high immediate satisfaction and long-run benefits
Desirable products
T/F: In a sense-of-mission marketing, a company defines its mission in product terms rather than social terms
False
T/F: When a company views and organizes its marketing activities from only the consumer’s point of view, it is practicing societal marketing
False
T/F: Pleasing products have low immediate appeal but benefit consumers in the long run
False