Marketing Sustainability Lecture Notes Flashcards

These vocabulary flashcards cover the foundational concepts, frameworks, and terminology from the Marketing Sustainability lecture series, including Chapters 1-15 of the textbook and real-world case studies like the Tabard Inn and Cotopaxi.

Sustainable marketing

The study of all efforts to consume, produce, distribute, promote, package, and reclaim products in a manner to achieve ecological, economic, and social objectives.

Triple bottom line

A corporate performance framework involving high performance in social (people), economic (profit), and ecological/environmental (planet) outcomes.

Sustainability

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Sustainable marketing management

The process of planning and executing the marketing mix to facilitate consumption, production, distribution, promotion, packaging, and product reclamation in a manner sensitive to ecological, economic, and social concerns.

Marketing action

Any behavior associated with the procurement, purchasing, sales, consumption, and post-consumption of product offerings reflecting an exchange between two parties.

Sustainability-based planning

The process of creating and maintaining a fit between the ecological, economic, and social environment and the objectives and resources of the firm.

Greenwashing

Situations in which there is a significant gap between expressed and genuine commitments to sustainability, or activity designed to mislead consumers regarding environmental practices.

Sustainable competitive advantage

The extent to which a firm’s strategy cannot be easily duplicated.

Employee Stock Option Plan (ESOP)

A corporate ownership structure used by firms like the Tabard Inn, where a majority (e.g., 52%) of the corporation is owned by employees.

Sanctity of Markets

The principle that markets should operate freely with minimal interference, allowing supply and demand to dictate outcomes while maintaining ethical and regulatory frameworks.

Consumer sovereignty

The principle of letting consumers decide what to buy rather than dictating their choices.

PESTLE analysis

A strategic management tool used to analyze Political, Economic, Social, Technological, Legal, and Environmental drivers of change.

Brand ethos

The guiding beliefs, ideals, or fundamental values that characterize an organization, often segmented into Heart (pathos), Head (logos), and Cred (ethos).

Business ethics

The organizational values, principles, and norms that guide group and individual behavior.

Principles

The pervasive and specific boundaries for behavior which may include a sense of equity, responsibility, and commitment.

Primary stakeholders

Entities that provide resources and associations necessary for a firm’s survival, including investors, employees, customers, suppliers, governments, and communities.

Social capital

A capability arising from the prevalence of trust among relationships, emerging from investments in education and health for stakeholders.

Socioeconomic dilemma

A sustainability dilemma where a firm tries to achieve social and economic goals simultaneously which are incompatible.

Eco-efficiency dilemma

A sustainability dilemma occurring when trying to achieve financial and ecological goals simultaneously.

Teleology

A moral philosophy focusing on the consequences of action to generate the greatest good.

Deontology

A family of moral philosophies focused on moral commitments or obligations necessary for proper action.

Socioethical intensity

The decision maker’s perceptions of the magnitude of a moral issue, influenced by factors like Magnitude of Consequences and Social Consensus.

Divestment

The disposal of products after they no longer offer utility to the consumer.

Involvement

The level of perceived interest and importance evoked by a stimulus within a specific situation.

Brand laziness

A state where consumers are marginally involved in a purchase and dedicate little effort to product selection.

Promotion

All communication from the marketer designed to persuade, inform, or remind potential buyers of a product.

Market segmentation

The process of dividing a market into distinct segments or subsets of customers who have similar needs or behave in the same way.

LOHAS

Acronym for Lifestyles of Health and Sustainability; consumers focused on health, environment, social justice, and sustainable living.

Buygrid framework

A model describing the organizational buying process based on the type of purchase (new task, modified rebuy, straight rebuy) and the stage of the process.

Reverse marketing

Proactive efforts within a firm to identify potential product providers or vendors where the buyer's needs are clarified.

Integrated Marketing Communication (IMC)

Coordination among elements of the promotional mix to ensure consistency of the message delivered at every contact point.

Value proposition

A statement of the emotional, functional, and self-expressive benefits delivered by a brand that provides value to consumers in a target market.

Demarketing

Action undertaken by marketers to discourage consumption, categorized into general, selective, or ostensible.

Transparency

The degree to which an entity provides complete disclosure of all activity related to economic, environmental, and relational performance.

Materiality

A reporting principle used to establish which topics are relevant to be included in sustainability reports.

Extended Producer Responsibility (EPR)

A concept requiring producers to be physically or financially responsible for their products after their useful life.

Reverse logistics

When a manufacturer accepts previously shipped products or parts from the point of consumption for recycling, reuse, or disposal.

Life Cycle Sustainability Assessment (LCSA)

A process that evaluates total costs and impacts over a product life, combining ecological, economic, and social dimensions.

Shared value

Solving social problems in ways that also build competitive advantage for a firm.

Circular economy

An economic system designed to design out waste, rethink materials, and maintain responsibility for a product's life cycle and end of life.