Management and Organizational Studies 2320A/B Chapter Notes - Chapter 4: Consumerism, Longrun, Planned Obsolescence

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Chapter 4
Sustainable marketing: marketing that meets the present needs of
consumers and businesses while also preserving or enhancing the ability of
future generations to meet their needs
o Calls for socially and environmentally responsible actions that meet
both the immediate and future needs of customers and the company
o Requires a smoothly functioning marketing system in which
consumers, companies, public policymakers, and others work
together to ensure socially responsible and ethical marketing actions
Marketing concept recognizes that organizations thrive from day to day by
determining the current needs and wants of target group customers and
fulfilling those needs and wants more effectively and efficiently than the
competition
New
Marketing concept
Strategic planning
concept
Needs of
consumers
Future
Societal marketing concept
Sustainable
marketing concept
Now
Future
Needs of business
Marketing system causes prices to be higher which points to 3 factors
o High costs of distribution
They say too many intermediaries, or that they provide
unnecessary or duplicate services
o High advertising and promotion costs
Modern marketing is also accused of pushing up prices to
finance heavy advertising and sales promotion
Marketers respond hat advertising does add to product
costs
But it adds values brands
o Excessive markups
Some companies mark up goods too much
Marketers can be accused of deceptive practices:
o Deceptive pricing: practices such as falsely advertising factory or
wholesale prices or a large price reduction from a phony high
retail list price
o Deceptive promotion: includes practices such as misrepresenting
the product’s features or performance or luring the customers to
the store for a bargain that is out of stock
o Deceptive packaging: exaggerating package contents through
subtly design, using misleading labeling, or describing size in
misleading terms
o Problems defining what is deceptive
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Document Summary

Marketing concept recognizes that organizations thrive from day to day by determining the current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than the competition. Marketing system causes prices to be higher which points to 3 factors: high costs of distribution. They say too many intermediaries, or that they provide unnecessary or duplicate services: high advertising and promotion costs. Modern marketing is also accused of pushing up prices to finance heavy advertising and sales promotion. Marketers respond hat advertising does add to product costs. But it adds values brands: excessive markups. Some companies mark up goods too much. High pressure selling persuade people to buy goods they had no intention of buying e. g. insurance, real estate, used cars. Poor product quality or function products not made well or services not performed well. Planned obsolescence products to become obsolete before they actually should need to be replaced.

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