MARKETING CH 20
Terms
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- HOW MARKETING HARMS CONSUMERS
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1.HIGH PRICES
2.DECEPTIVE PRACTICES
3.HIGH-PRESSURE SELLING
4.SHODDY OR UNSAFE PRODUCTS
5.PLANNED OBSOLESCENCE
6.POOR SERVICE TO DISADVANTAGED CONSUMERS - 3 FACTORS THAT CAUSES PRICES TO BE HIGHER
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1.HIGH COSTS OF DISTIBUTION
2.HIGH ADVERTISING & PROMOTION COSTS
3.EXCESSIVE MARKUPS - 3 GROUPS OF DECEPTIVE PRACTICES
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1.DECEPTIVE PRICING
2.PROMOTION
3.PACKAGING - DECEPTIVE PRICING
- INCLUDES PRACTICES SUCH AS FALSELY ADVERTISING "FACTORY" PRICES FROM A PHONY HIGH RETAIL LIST PRICE.
- DECEPTIVE PROMOTION
- INCLUDES PRACTICES SUCH AS OVERSTATING THE PRODUCT'S FEATURES, LURING THE CUSTOMER TO THE STORE FOR A BARGAIN THAT IS OUT OF STOCK, OR RUNNING RIGGED CONTESTS.
- DECEPTIVE PACKAGING
- INCLUDES EXAGGERATING PACKAGE CONTENTS THROUGH SUBTLE DESIGN, NOT FILLING THE PACKAGE TO THE TOP, USING MISLEADING LABELING, OR DESCRIBING SIZE IN MISLEADING TERMS.
- WHEELER-LEA ACT
- GIVES THE FEDERAL TRADE COMMISSION (FTC) POWER TO REGULATE "UNFAIR OR DECEPTIVE ACTS OR PRACTICES."
- PLANNED OBSOLESCENCE
- CAUSING THEIR PRODUCTS TO BECOME OBSOLETE BEFORE THEY ACTUALLY SHOULD NEED REPLACEMENT.
- 2 MAJOR GRASSROOTS MOVEMENTS TO KEEP BUSINESS IN LINE
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1.CONSUMERISM
2.ENVIRONMENTALISM - "REDLINING"
- A TYPE OF ECONOMIC DISCRIMINATION IN WHICH MAJOR CHAIN RETAILERS AVOID PLACING STORES IN DISADVANTAGED NEIGHBORHOODS.
- THINGS THAT INFLUENCE OUR WANTS & VALUES
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1.MARKETERS
2.FAMILY
3.PEER GROUPS
4.RELIGION
5.ETHNIC BACKGROUND
6.EDUCATION - WAYS TO RESTORE BALANCE BETWEEN PRIVATE & PUBLIC GOODS
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1.MAKE PRODUCERS BEAR THE FULL SOCIAL COSTS OF THEIR OPERATIONS
2.MAKE CONSUMERS PAY THE SOCIAL COSTS - CULTURAL POLLUTION
- THEORY THAT OUR MINDS ARE BEING CONSTANTLY ASSAULTED BY ADVERTISING, POLLUTING PEOPLE'S MINDS WITH MESSAGES OF MATERIALISM, SEX, POWER, OR STATUS.
- ARGUMENTS MARKETERS ANSWER THE CHARGES OF "COMMERCIAL NOISE" WITH
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1.THE HOPE THAT THEIR ADS REACH PRIMARILY THE TARGET AUDIENCE (BUT SOME DO NOT)
2.ADS MAKE TV & RADIO FREE TO USERS & KEEP DOWN THE COSTS OF MAGAZINES & NEWSPAPERS
3.TODAY'S CONSUMERS HAVE ALTERNATIVES - 3 PROBLEMS INVOLVED WITH MARKETING'S IMPACT ON OTHER BUSINESSES
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1.ACQUISITIONS OF COMPETITORS
2.MARKETING PRACTICES THAT CREATE BARRIERS TO ENTRY
3.UNFAIR COMPETITIVE MARKETING PRACTICES - UNFAIR MARKETING PRACTICES WITH THE INTENTION OF HURTING OR DESTROYING OTHER FIRMS
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1.SET THEIR PRICES BELOW COSTS
2.THREATEN TO CUT OFF BUSINESS WITH SUPPLIERS
3.DISCOURAGE THE BUYING OF A COMPETITOR'S PRODUCTS - CONSUMERISM
- AN ORGANIZED MOVEMENT OF CITIZENS & GOVERNMENT AGENCIES TO IMPROVE THE RIGHTS & POWER OF BUYERS IN RELATION TO SELLERS.
- ENVIRONMENTALISM
- AN ORGANIZED MOVEMENT OF CONCERNED CITIZENS, BUSINESSES, & GOVERNMENT AGENCIES TO PROTECT & IMPROVE PEOPLE'S LIVING ENVIRONMENT.
- ENVIRONMENTAL SUSTAINABILITY
- A MANAGEMENT APPROACH THAT INVOLVES DEVELOPING STRATEGIES THAT BOTH SUSTAIN THE ENVIRONMENT & PRODUCE PROFITS FOR THE COMPANY.
- SUSTAINABLE GLOBAL ECONOMY
- AN ECONOMY THAT THE PLANET IS CAPABLE OF SUPPORTING INDEFINITELY.
- "GREEN MARKETING" PROGRAMS
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1.DEVELOPING ECOLOGICALLY SAFER PRODUCTS
2.RECYCLABLE & BIODEGRADABLE PACKAGING
3.BETTER POLLUTON CONTROLS
4.MORE ENERGY-EFFICIENT OPERATIONS - PRODUCT STEWARDSHIP
- MINIMIZING NOT JUST POLLUTION FROM PRODUCTION BUT ALL ENVIRONMENTAL IMPACTS THROUGHOUT THE FULL PRODUCT LIFE CYCLE
- DESIGN FOR ENVIRONMENT (DFE)
- PRACTICES WHICH INVOLVE THINKING AHEAD IN THE DESIGN STAGE TO CREATE PRODUCTS THAT ARE EASIER TO RECOVER, REUSE, OR RECYCLE.
- POLLUTION PREVENTION
- CLEANING UP WASTE AFTER IT HAS BEEN CREATED & ELIMINATING OR MINIMIZING WASTE BEFORE IT IS CREATED.
- ENLIGHTENED MARKETING
- A MARKETING PHILOSOPHY HOLDING THAT A COMPANY'S MARKETING SHOULD SUPPORT THE BEST LONG-RUN PERFORMANCE OF THE MARKETING SYSTEM.
- 5 PRINCIPLES OF ENLIGHTENED MARKETING
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1.CONSUMER-ORIENTED MARKETING
2.INNOVATIVE MARKETING
3.VALUE MARKETING
4.SENSE-OF-MISSION MARKETING
5.SOCIETAL MARKETING - CONSUMER-ORIENTATED MARKETING
- A PRINCIPLE OF ENLIGHTENED MARKETING THAT HOLDS THAT THE COMPANY SHOULD VIEW & ORGANIZE ITS MARKETING ACTIVITIES FROM THE CONSUMER'S POINT OF VIEW.
- INNOVATIVE MARKETING
- A PRINCIPLE OF ENLIGHTENED MARKETING THAT REQUIRES THAT A COMPANY SEEK REAL PRODUCT & MARKETING IMPROVEMENTS.
- VALUE MARKETING
- A PRINCIPLE OF ENLIGHTENED MARKETING THAT HOLDS THAT A COMPANY SHOULD PUT MOST OF ITS RESOURCES INTO VALUE-BUILDING MARKETING INVESTMENTS.
- SENSE-OF-MISSION MARKETING
- A PRINCIPLE OF ENLIGHTENED MARKETING THAT HOLDS THAT A COMPANY SHOULD DEFINE ITS MISSION IN BROAD SOCIAL TERMS RATHER THAN NARROW PRODUCT TERMS.
- SOCIETAL MARKETING
- A PRINCIPLE OF ENLIGHTENED MARKETING THAT HOLDS THAT A COMPANY SHOULD MAKE MARKETING DECISIONS BY CONSIDERING CONSUMERS' WANTS, THE COMPANY'S REQUIREMENTS, CONSUMERS' LONG-RUN INTERESTS, & SOCIETY'S LONG-RUN INTERESTS.
- DEFICIENT PRODUCTS
- PRODUCTS THAT HAVE NEITHER IMMEDIATE APPEAL NOR LONG-RUN BENEFITS.
- PLEASING PRODUCTS
- PRODUCTS THAT GIVE HIGH IMMEDIATE SATISFACTION BUT MAY HURT CONSUMERS IN THE LONG RUN.
- SALUTORY PRODUCTS
- PRODUCTS THAT HAVE LOW APPEAL BUT MAY BENEFIT CONSUMERS IN THE LONG RUN.
- DESIRABLE PRODUCTS
- PRODUCTS THAT GIVE BOTH HIGH IMMEDIATE SATISFACTION & HIGH LONG-RUN BENEFITS.