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CHAPTER 1 2 SOCIALLY RESPONSIVE MARKETING 2-1 The Impact of Marketing 2-2 Criticisms of Marketing Chapter 2 2 2-1 Chapter 2 THE IMPACT OF MARKETING GOALS • Explain how marketing affects businesses. • Describe marketing’s impact on individuals. • Discuss ways marketing benefits society. 3 Chapter 2 Marketing Affects Businesses • Critical business function • Customer satisfaction Why do businesses that use the marketing concept benefit more from marketing? Businesses that use the marketing concept benefit more from marketing because they are better able to determine customer needs, attitudes, likes, and to reveal answer dislikes and use Click that information to develop profitable products that meet those needs. 5 Chapter 2 Marketing Helps People • Better products at a lower cost • Expanded opportunities What percentage of jobs in the United States involve the performance of marketing activities? Between 25% and 33% of all jobs in the United States are marketing jobs or have marketing as a Click to reveal answer major job responsibility. 7 Chapter 2 Marketing Benefits Society • New and better products • Better standards of living • Improved international trade 8 Chapter 2 Benefits of Marketing • • • • • Businesses meet consumer needs Consumers make better decisions Natural resources are used more effectively Standard of living is improved International trade increases How does marketing help the environment? Marketing helps the environment by fostering the development of products that satisfy customers’ needs more effectively. As a result, natural Click to reveal answer resources are used efficiently and fewer products are wasted or disposed of prematurely. Name at least two things that tend to occur when the marketing concept is used effectively. Click icon to hear answer Today’s computers are much more powerful and versatile than those of even a few years ago. Which of the following terms best describes today’s computer prices compared to a few years ago: much more, more, about the same, or less? Click icon to hear answer Name three marketing jobs. • • • • • • • • • Salesperson Customer service representative Warehouse employee Inventory specialist Marketing researcher Public relations personnel Writers and editors Media relations spokespersons Distributor What are some of the ways in which marketing improves a society’s standard of living? Click icon to hear answer What are some of the ways that marketing improves international trade? Click icon to hear answer 15 2-2 Chapter 2 CRITICISMS OF MARKETING GOALS • Discuss three common criticisms of marketing. • Explain how marketing can be used to solve social problems. 16 Chapter 2 Common Complaints • Marketing causes unneeded purchases • Marketing wastes money • Marketing is not always needed 17 Chapter 2 Product Price The Typical Costs of Marketing Average cost of sales and advertising (2–10%) Average cost of all marketing activities (50%) Total product price (100%) Why is a business that is committed to long-term customer relationships less likely to use high-pressure sales tactics? Businesses that are committed to long-term relationships are concerned with fully satisfying customers’ real needs so that they come back again and again. They have nothing to gain from Click to reveal answer high-pressure sales tactics which generally are used to close sales that customers would otherwise not make and more often than not soon regret. 19 Chapter 2 Marketing Solves Problems • Marketing increases public awareness • Marketing helps match supply with demand If a heat wave in the West is causing electrical outages, how can marketing help alleviate the problem? Electricity can be diverted along the nation’s power grid from other areas that have excess supplies and then resold to power companies in the affected areas. That helps answer the companies with Click to reveal excess power to sell their surplus and operate at optimum capacity, and at the same time it helps alleviate the shortage. On average marketing costs represent what percentage of the price that a consumer pays for a product? Click icon to hear answer On average, the cost of sales and promotions represent what percentage of the price that a consumer pays for a product? Click icon to hear answer If sellers do not perform certain marketing functions why doesn’t that reduce the final cost of a product to the consumer? Click icon to hear answer Name several public awareness campaigns that are intended to benefit society. If cranberry growers were suffering from an oversupply of cranberries that slashed prices and threatened to put them out of business, how could marketing help them? Click icon to hear answer