chapter 19-20 marketing

Chapter 20

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Sustainable marketing

* Marketing concept
* Societal marketing concept
* Strategic planning concept
* Sustainable marketing concept

Marketing Concept

recognizes that organizations thrive by determining the current needs and wants of target customers and fulfilling them more effectively and efficiently than competitors do

Societal marketing concept

Considers the future welfare of consumers

Strategic planning concept

Considers future company needs

Sustainable marketing concept

Considers both the future welfare of consumers and future company needs

Marketing's Impact on Individual Consumers

* High prices
* Deceptive practices
* High pressure selling
* Shoddy, harmful or unsafe products
* Planned obsolesces
* Poor service to disadvantage customers
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Marketing's Impact on Society as a Whole

* False wants and too much materialism
* Too few social goods
* Cultural pollution

Consumerism

The idea that increasing the consumption of goods and services purchased in the market is always a desirable goal, and that a person's well-being and happiness depend fundamentally on obtaining consumer goods and material possessions

Five sustainable marketing principles

1. Consumer-oriented marketing
2. Customer value marketing
3. Innovative marketing
4. Sense-of-mission marketing
5. Societal marketing

Consumer-oriented marketing

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

Customer value marketing

Company should put most of its resources into customer value-building marketing investments

Innovative marketing

Company should seek real product and marketing improvements

Sense-of-mission marketing

Company should define its mission in broad social terms rather than narrow product terms

Societal marketing

A company makes marketing decisions by considering consumers' wants, the company's requirements, and consumers & society's long-run interests

Chapter 19

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Deciding how to enter the market

Global firm

* Operates in more than one country
* Gains marketing, production, R&D, and financial advantages not available to purely domestic competitors
* Sees the world as one market

Six major decisions in international marketing

* Looking at global marketing environment
* Deciding whether to go global
* Deciding which market to enter
* Deciding how to enter the market
* Deciding how to enter the market
* Deciding on the global marketing program
* Deciding on the global marketing organization

Political-Legal Environment

* Nations differ greatly in their political-legal environments
* To do business in a given country, a company should consider factors such as:
* The country's attitudes toward international buying
* Government bureaucracy
* Political stability
* Monetary regulations

communication adaptation

a global communication strategy of fully adapting advertising messages to local markets

Promotion

- Media also need to be adapted internationally because media availability and regulations vary from country to country

Adapted global marketing -

Producer adjusts the marketing strategy and mix elements to each target market, resulting in more costs but hopefully producing a larger market share and return

Deciding how to join a market

* Exporting
* Joint Venture
* Direct investment

Exporting

Indirect and direct

Joint venture

* Joining with foreign companies to produce or market products or services

Licensing

Contract manufacturing

Management contract

Joint ownership

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Standardized global marketing

* Using the same marketing strategy approaches and marketing mix worldwide