MGMA01H3 Chapter Notes -Consumerism, Environmentalism, Longrun
Document Summary
Ch 4: social responsibility and ethics- sustainable market. Sustainable marketing- marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability future generations to meet their needs. Societal marketing concept future welfare of consumers. Marketing"s impact on individual consumer: high prices. Too many intermediaries, intermediaries are inefficient, unnecessary or duplicate services higher prices. Resellers" responses: markups reflect services that consumers want- more convenience, larger stores, assortment of products, more service, longer store hours, return privilege, other. Heavy advertising and sales promotion only adds psychological value to the product rather than functional value. Response: it does add value by informing potential buyers of the availability and merits of a brand consistent quality consumers want to pay more to feel wealthy, attractive, or special. Some marketers take advantage of it should be reported. Response: additional costs purchasing, promoting, distributing and high r&d: deceptive practises.
