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Lecture 7

MKT 304 Lecture Notes - Lecture 7: Overselling, Reverse Logistics, Upcycling

Course Code
MKT 304
Matthew Wilson

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Too few Public Goods
Public Goods: a commodity or service that is provided without profit to all members of society,
either by the government or…
Overselling private goods at the expense of public goods.
The overselling of private goods results in “social costs” ( for cars, social cost includes traffic
congestion, air pollution, gasoline, shortage)
Cultural Pollution
Cultural pollution stems from constant exposure to marketing messages
We are constantly exposed to messages of materialism, sex, power.
Marketing contributes to economic development facilitates exchange and improves quality of
Sellers’ Rights vs. Buyers’ rights:
Traditional Sellers’ rights include the right to
Introduce any product in any size and style
Charge any price for the product provided no discrimination exists
Spend any amount to promote the product
Additional consumers rights driven by:
The right to be well informed about important aspects of the product
True interest on a loan (truth is lending)
True cost per unit of a brand (unit pricing)
Ingredients in a product
Nutritional value
Products freshness
True benefits of a product
Additional consumers rights proposed by consumerism
The right to be protected against questionable products and pricing
Consumer now in a way that will preserve the world for future generations of consumers
o Promoting use of sustainable ingredients
o Recycling and reducing solid wastes
o Managing energy consumption
o Upcycling: repurposing a product for an entirely different value
o Reverse logistics
Reverse Logistics: refers to all operations related to the reuse of products and materials.
It is the process of moving goods from their typical destination for the purpose of
capturing value or proper disposal.”
o New wave of consumerism is pushing firms to take responsibility for products
end life.
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