Chapter 20 Sustainable Marketing: Social Responsibility and Ethics

Sustainable Marketing

is socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

New Clean Technologies

involve looking ahead and planning new technologies for competitive advantage

Sustainability Vision

is a guide to the future that shows the company that the company's products, processes, and policies must evolve and what is needed to get there

Consumerism

is the organized movement of citizens and government agencies to improve the right and power of buyers in relation to sellers

Traditional Buyers' Rights

the right not to buy a product that is offered for sale, the right to expect the product to be safe, the right to expect the product to perform as claimed

Consumer-Oriented Marketing

view and organize marketing activities from the consumer's point of view

Misuse of personal date

gathering excessive or sensitive information without proper consent

Algorithmic bias

AI models reflecting biases present in training data, leading to discriminatory practices

Lack of Transparency

not adequately informing users about how AI is being used to influence their behavior

Manipulation and Deception

using AI to create misleading or deceptive marketing content

The Sustainable Company

at the foundation of marketing is the belief that companies that fulfill the needs and wants of customers will thrive

Marketing

is a process by which companies create value for consumers and build strong customer relationship in order to capture value from customers in return

Segmentation

divide the total market into smaller segments

Targeting

select the segment or segments to enter

Differentiation

differentiate the market offering to create superior customer value

Positioning

position the market offering in the minds of target customers

Product

whatever you provide that satisfies your customer's need to want

Price

whatever (money, time, effort) your customer invests to have his/her need or want satisfied

Place

where your customer interacts with your product to have his/her need or want satisfied

Promotion

how your customer learns about and stays informed about your product