ADMS 1010 Chapter Notes - Chapter 9: Marketing Myopia, Resource Depletion, Production Function

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Helen Pogrin

Document Summary

Marketing: activities, institutions, processes, communicating, delivering, exchanging offerings, value for customers, clients, society at large. Advertising: marketing is much broader than just advertising, advertising is the most visible face of marketing. Estimates of advertising exposure: up to 5000 ads/day. Failure of growth industries: belief that growth is assured, belief that there is no competitive substitute, too much faith in mass production, preoccupation with product (vs. customer, marketing vs. Selling: selling: focuses on needs of seller, marketing: focuses on satisfying needs of customer holistically. Henry ford: mass production the result not the cause of low prices. Corporations choosing to focus primarily on the marketing function rather than the production function. Competitive race to cheapest production areas of the world. Employees are paid very little: minimal labour standards (long working hours; unsafe conditions; no benefits; no security, etc. , minimal environmental standards (resource depletion; habitat destruction; pollution, etc. ) Costs are externalized: not captured in the final price of the product.