Product Decisions and Marketing’s Role in New Product Development
Recognize that marketing’s first social responsibility is to be ever more efficient and effective...
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Transcript of Recognize that marketing’s first social responsibility is to be ever more efficient and effective...
![Page 1: Recognize that marketing’s first social responsibility is to be ever more efficient and effective and understand the charges made against the marketing.](https://reader031.fdocuments.net/reader031/viewer/2022032606/56649ea85503460f94bac3ce/html5/thumbnails/1.jpg)
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Recognize that marketing’s first social responsibility is to be ever more efficient and effective and understand the charges made against the marketing role in this regard
Understand that marketing's second social responsibility is to behave ethically and honestly with customers, colleagues, and ourselves as marketers
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Observe how marketers must obey the letter of the law and spirit of various laws as a third social responsibility
Appreciate how marketing exercises its fourth responsibility via cause-related marketing
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Social Responsibility
Marketing and Social Responsibility
The collection of marketing philosophies, policies, procedures, and actions intended primarily to enhance society’s welfare
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Too Many New Unneeded Products are Marketed that Fail
Arguments made for better marketing, not less marketing
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Too Many New Unneeded Products are Marketed that Succeed
Planned obsolescence—the design of a product with features that the company knows will soon be superseded, thus making the model obsolete
Example--www.gateway.com
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Market Distribution Systems are Inefficient
Fierce competitors who are trendsetters in innovation of new, more efficient distribution processes will take away business
Example—Wal-Mart and Home Depot
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
A Lot of Advertising Is Wasteful Expenditure
Inefficient targeting—results when advertising and distribution reach too broad an audience, most of whom are not interested in the product
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Marketers’ Self-interested, Unintended Consequences on Supply
Tragedy of the commons—name given to the process which individuals, pursuing their own self-interest, overuse a common good to such an extent that the common good is destroyed
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Marketers’ Self-interested, Unintended Consequences on Supply
Supply-side market failure—individual activities of a supplier inadvertently lead to destructive effects on the overall supply
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Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Marketers’ Self-interested, Unintended Consequences on Supply
![Page 12: Recognize that marketing’s first social responsibility is to be ever more efficient and effective and understand the charges made against the marketing.](https://reader031.fdocuments.net/reader031/viewer/2022032606/56649ea85503460f94bac3ce/html5/thumbnails/12.jpg)
Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Marketers’ Self-interested, Unintended Consequences on Supply
![Page 13: Recognize that marketing’s first social responsibility is to be ever more efficient and effective and understand the charges made against the marketing.](https://reader031.fdocuments.net/reader031/viewer/2022032606/56649ea85503460f94bac3ce/html5/thumbnails/13.jpg)
Marketing’s First Social Responsibility: Be Ever More Efficient and Effective
Marketers’ Self-interested, Unintended Consequences on Demand
Demand-side market failure—the cumulative effect of the marketing practices on many thousands of advertising campaigns that has a residual negative impact on the values of buyers and the demand for various products
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Marketing’s Second Social Responsibility: Behave Ethically
IBM and Proctor & Gamble
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Marketing’s Second Social Responsibility: Behave Ethically
IBM and Proctor & Gamble
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Marketing’s Second Social Responsibility: Behave Ethically
I Was Only Following Orders
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Marketing’s Second Social Responsibility: Behave Ethically
Choose to Do the Most Good for the Most People
Principle of utility is that “ethical behavior” is the behavior that produces the most good for the most people in a specific situation
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Marketing’s Second Social Responsibility: Behave Ethically
What If Everyone Did It?
Situational ethics—societal condition where “right” and “wrong” are determined by the specific situation, rather than by universal moral principles
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Marketing’s Second Social Responsibility: Behave Ethically
Where Do Our Basic Values Come From?
www.ymca.com
Youth groups, sports teams, school related organizations
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Marketing’s Second Social Responsibility: Behave Ethically
Recognizing Ethical Issues
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Marketing’s Second Social Responsibility: Behave Ethically
Recognizing Ethical Issues
Ethical vigilance—means paying constant attention to whether one’s actions are “right” or “wrong,” and if ethically “wrong,” asking why one is behaving in that manner
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Marketing’s Third Social Responsibility: Obey the Law
Obey the Law
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Marketing’s Fourth Social Responsibility: Help Market Good Causes
Good Causes
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Marketing’s Fourth Social Responsibility: Help Market Good Causes
Cause-Related Marketing
Activities that governments, public service organizations, companies, and individuals undertake in an effort to encourage target customer participation in socially redeeming programs
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Marketing’s Fourth Social Responsibility: Help Market Good Causes
Cause-Related Marketing
Example—The National High Blood Pressure Education Program (NHBPEP)—partnership of over 40 organizations to raise awareness and provide diagnosis
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Marketing’s Fourth Social Responsibility: Help Market Good Causes
Cause-Related Marketing
Allstate Allstate InsuranceInsurance
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Marketing’s Fourth Social Responsibility: Help Market Good Causes
Cause-Related Marketing