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Principles of Marketing Lecture-43 Summary of Lecture-42 e-Marketing The Birth of the Internet The Role of the Internet in Marketing Definitions • E- Commerce • E-Marketing • E-Business Rules of E-Marketing Basic Forms of Virtual Business Business-to-Consumer (B2C) Basic Forms of Electronic Commerce Business-to-Business (B2B) Decision Variables of the Marketing Mix Catch for Pakistani Business Today’s Topics Marketing and Society Current Issues in Marketing • The current issues and marketing can be divided into two major subjects: –Ethics –Social responsibility • The two concepts are very closely related Marketing Ethics • 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 Social Criticisms of Marketing High Prices Poor Service Planned Obsolescence Marketing’s Impact on Individual Consumers Shoddy or Unsafe Products Deceptive Practices High Pressure Selling Marketing’s Impact on Society The Marketing Function is Accused by Society of Creating: False Wants and Too Much Materialism Too Few Social Goods Too Much Political Power Cultural Pollution Ethical Questions in Marketing Product • Planned obsolescence • Product quality and safety • Product warranties • Fair packaging and labeling • Pollution • Packages larger than necessary to gain shelf space • Odd-sized packages to complicate price comparisons • Product testing on animals Price •Price fixing •Price discrimination •Price increases •Deceptive pricing Distribution •Exclusive territories •Dumping •Dealer rights •Predatory competition • 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? Promotion • Bait-and-switch advertising • Promotional allowances • Bribery • 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.). Marketing’s Impact on Other Businesses Critics Charge that a Company’s Marketing Practices Can Harm Other Companies and Reduce Competition Through.. Acquisitions of Competitors Marketing Practices that Create Barriers to Entry Unfair Competitive Marketing Practices Marketing Ethics Distributor Relations Advertising Product Development Corporate Standards Marketing Ethics Customer Policies Pricing Service General Code Consumerism The Right to Be Safe The Right to Be Informed Basic Consumer Rights The Right to Be Heard The Right to Choose Social Responsibility • 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. • 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, longterm effects and for their results for future generations. Marketing and ecology • 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. Enlightened Marketing Consumer-Oriented Marketing Innovative Marketing Value Marketing Sense-of-Mission Marketing Societal Marketing Society (Human Welfare) Societal Marketing Concept Consumers (Satisfaction) Company (Profits) Principles For Public Policy Toward Marketing Consumer and Producer Freedom Curbing Potential Harm Meeting Basic Needs Key Principles for a Public Policy Toward Marketing Economic Efficiency Innovation Consumer Education Consumer Protection Society (Human Welfare) Societal Marketing Concept Consumers (Satisfaction) Company (Profits) Enough for today. . . Summary Marketing and Society • The current issues and marketing can be divided into two major subjects: –Ethics –Social responsibility • The two concepts are very closely related Social Criticisms of Marketing High Prices Poor Service Planned Obsolescence Marketing’s Impact on Individual Consumers Shoddy or Unsafe Products Deceptive Practices High Pressure Selling Marketing’s Impact on Society The Marketing Function is Accused by Society of Creating: False Wants and Too Much Materialism Too Few Social Goods Too Much Political Power Cultural Pollution Ethical Questions in Marketing Distributor Relations Advertising Product Development Corporate Standards Marketing Ethics Customer Policies Pricing Service General Code Social Responsibility Society (Human Welfare) Societal Marketing Concept Consumers (Satisfaction) Company (Profits) Next…. Review Principles of Marketing Lecture-43
