MGMT100 Lecture Notes - Lecture 11: Planned Obsolescence, Customer Relationship Management, Invisible Hand
Document Summary
Week 11 sustainable marketing: social responsibility, ethics and legal compliance. Companies can benefit from proactively pursuing sustainable marketing practices that bring value not only to the individual consumers and businesses that we refer to as customers, but to society as a whole. Sustainable marketing actions are more than just the right thing to do; they are also good for business. The marketing concept is a 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. Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of customers while also preserving or enhancing the ability of future generations to meet their needs. Consumerism: an organised movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.
