Principles of Marketing Lecture-43 Summary of Lecture-42.

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Principles of Marketing Lecture- 43

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Transcript of Principles of Marketing Lecture-43 Summary of Lecture-42.

Page 1: Principles of Marketing Lecture-43 Summary of Lecture-42.

Principles of Marketing

Lecture-43

Page 2: Principles of Marketing Lecture-43 Summary of Lecture-42.

Summaryof

Lecture-42

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e-Marketing

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The Birth of the Internet

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The Role of the Internet in Marketing

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Definitions

• E- Commerce

• E-Marketing

• E-Business

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Rules of E-Marketing

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Basic Forms of Virtual Business

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Business-to-Consumer(B2C)

Business-to-Consumer(B2C)

Basic Formsof

ElectronicCommerce

Basic Formsof

ElectronicCommerce

Business-to-Business(B2B)

Business-to-Business(B2B)

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Decision Variables of the Marketing Mix

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Catch for Pakistani Business

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Today’s Topics

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Marketing and Society

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Current Issues in Marketing

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• The current issues and marketing can be divided into two major subjects:

–Ethics

–Social responsibility

• The two concepts are very closely related

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Marketing Ethics

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•Marketers’ standards of conduct and moral values.

•People develop standards of ethical behavior based on their own systems of values and that may differ from employers organizational ethics, which, produces conflicts

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Social Criticisms of Marketing

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HighPricesHigh

Prices

Shoddy or Unsafe

Products

Shoddy or Unsafe

Products

PoorServicePoor

ServiceDeceptivePractices

DeceptivePractices

PlannedObsolescence

PlannedObsolescence

HighPressureSelling

HighPressureSelling

Marketing’s Impact on Individual

Consumers

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Marketing’s Impact on Society

Page 21: Principles of Marketing Lecture-43 Summary of Lecture-42.

Too Few SocialGoods

Too Few SocialGoods

False Wants and Too

Much Materialism

False Wants and Too

Much Materialism

Too MuchPolitical Power

Too MuchPolitical Power

Cultural PollutionCultural Pollution

The Marketing Function is Accused by Society of Creating:

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Ethical Questions

in Marketing

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Product•Planned obsolescence

•Product quality and safety

•Product warranties

•Fair packaging and labeling

•Pollution

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•Packages larger than necessary to gain shelf space

•Odd-sized packages to complicate price comparisons

•Product testing on animals

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Price•Price fixing

•Price discrimination

•Price increases

•Deceptive pricing

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Distribution•Exclusive territories

•Dumping

•Dealer rights

•Predatory competition

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•What degree of control should the firm exert over its channel?

•Should a company distribute its products in marginally profitable outlets that lack alternative sources of supply?

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Promotion

•Bait-and-switch advertising

•Promotional allowances

•Bribery

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•Promotion gives rise to more ethical questions than other components of the marketing mix.

•Advertising does everything from simple exaggeration to outright deceit (car advertisements where the fine print is so small you can’t read it.).

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Marketing’s Impact on Other Businesses

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Critics Charge that a Company’s Marketing

Practices Can Harm Other Companies and Reduce Competition Through..

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Acquisitionsof

Competitors

Acquisitionsof

Competitors

Marketing Practices that Create Barriers

to Entry

Marketing Practices that Create Barriers

to Entry

Unfair CompetitiveMarketing Practices

Unfair CompetitiveMarketing Practices

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Marketing Ethics

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Customer Service

Customer ServicePricingPricing

DistributorRelations

DistributorRelations

GeneralCode

GeneralCode

Product Development

Product Development

AdvertisingStandards

AdvertisingStandards

CorporateMarketing

EthicsPolicies

CorporateMarketing

EthicsPolicies

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Consumerism

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The Right to Be Safe The Right to Be Informed

The Right to Be Heard The Right to Choose

Basic Consumer Rights

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Social Responsibility

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• The collection of marketing philosophies, policies, procedures, and actions intended primarily to enhance society’s welfare.

• Social responsibility allows for easier measurement than marketing ethics.

•Government legislation can mandate socially responsible actions.

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•Contemporary marketing decisions must consider the entire societal framework, not only in your own country but also throughout the world.

•Marketing decisions must also account for their eventual, long-term effects and for their results for future generations.

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Marketing and ecology

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•Ecology - the relationship between organisms and their natural environments

•Examples: garbage disposal, acid rain, depletion of the ozone layer, global warming, and contamination of the air and water.

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Enlightened Marketing

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Consumer-Oriented MarketingConsumer-Oriented Marketing

Innovative MarketingInnovative Marketing

Value MarketingValue Marketing

Sense-of-Mission MarketingSense-of-Mission Marketing

Societal MarketingSocietal Marketing

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Society(Human Welfare)

Society(Human Welfare)

Consumers(Satisfaction)

Consumers(Satisfaction)

Company(Profits)

Company(Profits)

SocietalMarketingConcept

SocietalMarketingConcept

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Principles For Public

Policy Toward Marketing

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Key Principlesfor a Public PolicyToward Marketing

Key Principlesfor a Public PolicyToward Marketing

EconomicEfficiency

EconomicEfficiency

Meeting BasicNeeds

Meeting BasicNeeds

InnovationInnovation

Curbing PotentialHarm

Curbing PotentialHarm

ConsumerEducation

ConsumerEducation

Consumer Protection

Consumer Protection

Consumer andProducer Freedom

Consumer andProducer Freedom

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Society(Human Welfare)

Society(Human Welfare)

Consumers(Satisfaction)

Consumers(Satisfaction)

Company(Profits)

Company(Profits)

SocietalMarketingConcept

SocietalMarketingConcept

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Enough for today. . .

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Summary

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Marketing and Society

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• The current issues and marketing can be divided into two major subjects:

–Ethics

–Social responsibility

• The two concepts are very closely related

Page 52: Principles of Marketing Lecture-43 Summary of Lecture-42.

Social Criticisms of Marketing

Page 53: Principles of Marketing Lecture-43 Summary of Lecture-42.

HighPricesHigh

Prices

Shoddy or Unsafe

Products

Shoddy or Unsafe

Products

PoorServicePoor

ServiceDeceptivePractices

DeceptivePractices

PlannedObsolescence

PlannedObsolescence

HighPressureSelling

HighPressureSelling

Marketing’s Impact on Individual

Consumers

Page 54: Principles of Marketing Lecture-43 Summary of Lecture-42.

Marketing’s Impact on Society

Page 55: Principles of Marketing Lecture-43 Summary of Lecture-42.

Too Few SocialGoods

Too Few SocialGoods

False Wants and Too

Much Materialism

False Wants and Too

Much Materialism

Too MuchPolitical Power

Too MuchPolitical Power

Cultural PollutionCultural Pollution

The Marketing Function is Accused by Society of Creating:

Page 56: Principles of Marketing Lecture-43 Summary of Lecture-42.

Ethical Questions

in Marketing

Page 57: Principles of Marketing Lecture-43 Summary of Lecture-42.

Customer Service

Customer ServicePricingPricing

DistributorRelations

DistributorRelations

GeneralCode

GeneralCode

Product Development

Product Development

AdvertisingStandards

AdvertisingStandards

CorporateMarketing

EthicsPolicies

CorporateMarketing

EthicsPolicies

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Social Responsibility

Page 59: Principles of Marketing Lecture-43 Summary of Lecture-42.

Society(Human Welfare)

Society(Human Welfare)

Consumers(Satisfaction)

Consumers(Satisfaction)

Company(Profits)

Company(Profits)

SocietalMarketingConcept

SocietalMarketingConcept

Page 60: Principles of Marketing Lecture-43 Summary of Lecture-42.

Next….

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Review

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Principles of Marketing

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