W8 Marketing

What is sustainability?

Looking at the different contexts that influence a firm’s behaviour (Peattie and Peattie, 2009)

How is the environment involved in sustainable marketing?

• Companies should create marketing strategies to address issues facing the phsyical environment

How is the economy involved in sustainable marketing?

• Focuses on strong financial performance as the base of business activity

How is society involved in sustainable marketing?

Highlights the need for marketers to recognise change in society and emphasises the reduction of inequality and deprivation

How is technology involved in sustainable marketing?

• Use of technology and innovation to enable communication and education on sustainability

• Innovation can find new ways of doing things sustainably if the focus of technology is on environmental solutions

What are marketing ethics?

Moral principles and values that guide behaviour within the field of marketing and cover issues such as product safety, truthfulness in marketing, and the impact of marketing issues on the environment and society

What is price fixing and how is it mitigated?

• Two or more companies collude to force up the price of products

• It is considered unethical because it interferes with the consumer’s freedom of choice and raises prices

• The EU anti-trust policy rules out two forms making agreements that can restrict competition and prohibits firms with a dominan market positon from charging unfair prices

What is slotting allowance?

• A fee paid by a manufacturer to a retailer in exchange for an agreement to place a product on the retailer’s shelves

• Unethical as it distorts competition, favouring large suppliers that can afford to pay them over small suppliers

What is materialism?

An ethical concern associated with an overemphises on material possessions

What is short-termism?

Putting the immediate interests of consumers before society’s long term-interests

What is globalisation?

Involves companies operating in many countries

Why does globalisation bring ethical concerns?

• There may be an abuse of power

• Concern is expressed over influence on consumers, governments and suppliers

• Supporters argue large companies can deliver benefits from eonomies of scale in production and marketing reseach can provide improved goods and services

What is Corporate Social Responsibility?

The ethical principle that an organisation should be accountable for how its behavior might affect society and the environment

What is the stakeholder theory?

Companies are not managed purely in the interests of their shareholders alone. Rather, there is a range of groups (Stakeholders) thta has a legitimate intermediate