Marketing: Real People, Real Choices 9th Global Edition by Greg W. Marshall Solution manual

 
Another result of this new way of long-term thinking is the societal marketing concept, which maintains that marketers must satisfy customers’ needs in ways that also benefit society while still delivering a profit to the firm.
 
An important trend now is for companies to think of ways to design and manufacture products with a focus on sustainability, which we define as “meeting present needs without compromising the ability of future generations to meet their needs.” Sustainability applies to many aspects of doing business, including social and economic practices (e.g., humane working conditions and diplomacy to prevent wars that deplete food supplies, atmospheric quality, and of course, lives).  One other crucial pillar of sustainability is the environmental impact of the product. <keyterm id="ch08term29" linkend="gloss08_029" preference="0" role="strong">Green marketing</keyterm>, the development of marketing strategies that support environmental stewardship by creating an environmentally founded differential benefit in the minds of consumers, is being practiced by most forward-thinking firms today.
 
In addition to building long-term relationships and focusing on social responsibility, triple-bottom-line firms place a much greater focus on accountability—measuring just how much value marketing activities create. This means that marketers at these organizations ask hard questions about the true value of their efforts and their impact on the bottom line. These questions all boil down to the simple acronym of ROMI (return on marketing investment). Marketers now realize that if they want to assess just how much value they are creating for the firm, they need to know exactly what they are spending and what the concrete results of their actions are.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit: Habitat for Humanity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Website: Visit Girls Inc. (inspiring all girls to be strong, smart, and bold) for a discussion about the social marketing concept: www.girlsinc.org 
 

►Marketing Moment In-Class Activity
A company developed a game called JFK Reloaded, which allows the participant to get behind Lee Harvey Oswald’s sniper rifle and recreate the assassination. The player, who can most closely replicate the shot, wins the game. How would you assess this product in terms of the societal marketing concept?
 

►Marketing Moment In-Class Activity
Marketing occurs in non-business organizations under different names.  Can you think of other names for “customers” in non-business organizations?  Example—hospitals: patients, psychologists: clients, schools: students, non-profits: donors, etc.

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2.5 What’s Next in the Evolution of Marketing?
In the years ahead we will see an acceleration of the most important factors that marketers think about today. These predictions include: Good content, big data, mobile marketing, marketing metrics, customer interaction, and the demand for companies to do good even as they do well.
Mobile marketing, interacting with consumers via mobile phones, tablets, and wearable screens such as smart watches, will be one of the prime factors in marketing’s future.
User-generated content in which consumers engage in marketing activities such as creating advertisements, will grow and overtake the importance of branded content.
Corporate citizenship, also called corporate social responsibility, refers to a firm’s responsibility to the community in which it operates and to society in general. In the future, good corporate citizenship will become a major marketing function.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ripped from the Headlines:
Ethical/Sustainable Decisions
in the Real World

►Marketing Moment In-Class Activity
Should e-cigarettes be marketed like any other widely available product such as milk or music?

 

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