GMS 802 Lecture : Chapter 6

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Document Summary

Creating a value proposition and delivering on it for customers. Is fundamentally about the customer and meeting customer needs. Marketing without ethics: make as much money as possible. E. g. the use of cookies on the internet. Targeting less-advantaged or vulnerable portion of the population. The product should serve the needs of the customer. E. g. selling pesticides to less developed countries can result in harm. The tactics used to reach customers need to be examined: deceiving supply chain partners. E. g. firms may give false information or offer questionable incentives to get shelf space at a. Wal-mart store: using images and promotions that are deceptive or disrespectful to stakeholders. A new understanding of marketing: does more than sell products. Is the vehicle through which an organization tells the story of its product, services, or core values. Builds a foundation of trust and consideration between the firm and the consumer. Is the process by which firms create and deliver values to their customers.