450 Exam #4
Philanthropic Responsibilities
Contribute resources to the community to improve the quality of life
Informal Marketing Controls
Employee SElf Control, Social Control, Cultural Control
Customer Relationship Strategies
Financial, Social, Customization, STructural
Formal Marketing Controls
Inputs, Process, Output
Links between Planning and Implementation
Interdependency, Evolutions, Separation
Elements of Marketing Implementation
Marketing strategy, Shared Goals and values, Marketing Structure, Systems and Processes, People, Resources, Leadership
Range of Expectations
Ideal, Normative, Experience Based, Minimum tolerable
Ethical Responsibilities
Obligations to do what is right just and fair
Minimum Tolerable Expectations
Price Driven Purchases, low involvement
Social Responsiblity
a broad concept that relates to an organizations obligations to maximize its positive impact on society while minimizing its negative impact
CRM
a business philosophy aimed at defining and increasing customer value in ways that motivate customers to remain loyal
Quality
a relative term that refers to the degree of superiorotiy of a firms goods or services
Process Control
actions taken during the implementation of the strategy
Input Controls
actions taken prior to implementation of the strategy
Regulating Marketing Ethics
compliance with laws and regulations, trade associations, better business bureau
Structural Bonding
contractual relations, electronic transactions, ultimate reduction in switching, time consuming, costly, customer retention
Employee Self Control
control based on personal expecations and goals
In the realm of marketing ethics, great leaders
create a common goal or vision of the company, obtain buy in support, motivate others to be ethical, use the resources that are available to them, enjoy their jobs
A climate of ethics and social responsibility has many bottom line benefits
creates trust with firm's stakeholders, enhances the firms reputation, efficient supply chains, stronger customer loyalty and satisfaction and higher profits
Green Marketing
creating customer relationships while also enhancing the natural environment
Output Controls
evaluated after implementation of the strategy
Product Related Ethical Issues
failure to disclose risks, product design, counterfeit products
Promotion Related Ethical Issues
false or misleading communication, ambiguous statements, bribery, direct marketing fraud
Code of Conduct
formal statement that describes what an organization expects of its employees; should be implemented into daily decision making
Developing Relationships in Consumer Market
goal is to move consumers through levels of increasing relationship intensity; not all consumers are of equal value to the firm
Links between implementation and planning
interdependency, evolution, separation
Value
is a subjective evaluation of benefits relative to costs to determine the worth of a firm's product offering relative to other product offerings
Marketing Implementation
is the process of executing the marketing strategy by creating and performing specific actions that will ensure the achievement of the firm's marketing objectives.
Interdependency
it is true that how the marketing strategy is to be implemented determines the content of the marketing plan
Supply Chain Related Ethical Issues
labor issues, raw material sources, quality control
LEgal Responsibilities
law is society's codivtications of right and wrong
Cause Related Marketing
link products to a particular cause on an ongoing or short term basis
Social Bonding
membership progams, customer events, reduces brand switching, hard to imitate, takes time, must build customer trust.
Separation
middle or upperlevel managers often do strategic planning; however, the responsibility of implementation almost always falls on lower level managers and frontline employees.
Greenwashing
misleading consumers about the eco-friendly nature of products
A strong ethical climate leads employees to be
motivated to serve customers, commited to the firm, committed to high quality standards, statisfied with their job
Superficial Discounting
occurs when a firm advertises a sale price as a reduction below the normal price when it is not the case.
Price Discrimination
occurs when firms charge different prices to different customers
Predatory Pricing
occurs when firms charges very low prices for a product with the intent of driving competitors out of business and then raising the prices
Price Fixing
occurs when the firms collaborate to set prices
Experience Based Expectations
past experience, loyalty , frequent purchase,
Ideal Expectations
perfect performance, highly involving purchase, unique events, special occasions
Customer Delight
performance exceeds desired expectations
Customer Dissatisfaction
performance falls below adequate expectations
Customer Satisfaction
performance falls within the zone
Price Related Ethical Issues
price discrimination, price fixing, predatory pricing, superficial discounting
Price Gouging
pricing products at exorbitant levels
Marketing Ethics
principles and standards that define acceptable marketing conduct as determined by the public, government regulators, private groups, competitors and the firm itself
Sustainability
programs designed to protect and preserve the natural environment
Customization
reminder notices, personal shoppers, promotes brand loyalty, very hard to imitate, can be expensive, takes time to devleop
Social Control
small group control based on groups norms and expectations
Stakeholder Orientation
the degree to which a firm understands and addresses stakeholder demands
Stakeholder Orientation
the degree to which a firm understands and addresses stakeholders demands
Zone of Toerlerance
the difference between the upper and lower level of possible customer expectations
Economic Responsibilities
the foundations upon all other responsibilities
The stakeholder orientation means
the organization generation of data about stakeholder groups and assessment of the firms effects on these groups, the distribution of information throughout the firm, and the organization of responsiveness as a whole to this intelligence
Marketing Implementation
the process of executing the marketing strategy by creating and performing specific actions that will ensure the achievement of the firm's marketing objectives
Strategic Philanthropy
the synergistic use of organizational core competencies and resources to address key stakeholders' interests anc achieve both organizational and social benefits.
Financial
using financial incentives, coupons, volume, easy to use, effective short term, easy to imitated and hard to end
Normative expecations
what ought to be, shopping comparisons, value judgements
Product Related Ethical Issues
when the firm fails to disclose risks associated with a product or information regarding the function, value, or use of a product.
Ethical Issue
an identifiable problem, situation, opportunity that requires an individual or organization to choose among several actions that must be evaluated as right or wrong, ethical or unethical.
The right marketing strategy is the one that
attracts and retains customers over the long term
Value
balances the five types of utility, is braoder in scope, takes into account everything in the marketing program,
Cultural Control
based on organizational norms and expectations
Evolution
because planning and implementation are intertwined, both must constantly evolve to fit each other