MKT 100 Lecture Notes - Lecture 3: Corporate Social Responsibility, Categorical Imperative, Philosophical Perspectives

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4 Aug 2016
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Week 3
Ethics
Legal vs. Ethical
Legal
Laws and regulations are developed by society to tell us what behaviors and attitudes will be tolerated and
which types wont be. When you go against the law there is some form of penalty to dissuade people from
doing it.
Ethical
Ethics are often culturally determined
Philosophical Perspectives
Utilitarianism
A decision that produces the greatest good for the greatest number of people is the best decision
(democracy).
Categorical Imperative
“what if everyone did this”? – Tragedy of commons. The depletion of a shared resource due to everyone’s
self interest.
Corporate Social Responsibility
Corporate Social Responsibility: Companies behaving legally and ethically
Donor
Companies that write checks to support worthy causes. Generally unplanned and in reaction to an external
threat.
Sponsors
“Cause related marketing”
Their social responsibility is motivated by the desire to create goodwill and to link causes to their own
strategic goals. i.e. Canadian tire buys sports check – sponsors Olympics
Partners
Involvement in CSR is part of the DNA of these companies, part of the strategic plan not for marketing or
sales goals. Part of employee’s work is working with the community. Projects are focused on making the
community better.
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Marketing Research Process
Market Research – all the activities undertaken by a company to gather information about the market, its
customers, its competitors and current and future products and services.
Why Conduct Marketing Research?
Consumer Insights – marketers learn about the customer’s expectations, usage patterns, attitudes and
values. Without this information it is more difficult to obtain effective relationships with customers, create
meaningful new products and understand changes that need to be made to current products to retain
current customers.
Market Insights – The market is becoming more complex and dynamic with competitors constantly enter
the market with new products. The pace of change has increased and marketers must understand the
landscape in order to position their product effectively and to accurately forecast current and future
demand.
Saves Money – the cost of launching and marketing a dud is enormous compared to marketing research
costs
.
Questions to be Answered
What should we do?
Future-oriented
Exploratory
A need for information on broad consumer and market trends, information about competitors or specific
information about consumer behavior; what they buy, where they buy and when they buy.
Research to respond to this product is done before a product is launched or developed.
Did we do the Right thing?
After the fact – after product launch and advertisements
Evaluative
Opportunity for the company to assess if they reached their mark on the key elements of its products and
get valuable information on any tweaks that can be made.
Appeal to consumers – positioning, where did consumers buy the product and does it match their
expectations? What did they buy it for? What did they pay for it and does it match quality
expectations? And does it stack up to competitors?
Did the advertisement show relevant features and benefits of the product and does the viewer see
themselves as part of the target audience?
Easy to use, right color, texture, taste?
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