Mkt 3010 1st Edition Lecture 21Outline of Last Lecture Ch. 8Global FirmGlobal environmentEconomic AnalysisChoosing a Global Entry StrategyChoosing a global marketing strategyTarget marketMarketing mixPricingDistributionThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.CommunicationOutline of Current LectureCh4Ethical issuesCriticisms of marketing: individual consumersCosmetics labelingSocially responsible labelingGreenwashingCriticisms of marketing: individual consumersCitizen and public actions to regulate marketingCurrent LectureChapter 4: Marketing EthicsEthical Issues- Corporate social responsibility- voluntary, not legallyo Environmental concerns- waste, resources issueso Labor issues- nike and starbucks had issues- Impact on country cultureo Cultural imperialism- idea that one culture is better than anotherBusiness ethics- all of the aboveMarketing ethics- things that specifically relate to marketingCriticisms of marketing: individual consumers- High Prices- criticism; defenseo High costs of distribution and What they offer in service does not merit what the consumers have to pay; many intermediaries for customers’ convenienceo High advertising and promotion costs, true but advertisers must create demand and show what value it offersThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Excessive markups; consumers do not understand the R&D process- Deceptive practices- criticism; defense (making customer think they are getting more value whenthey are not)o Deceptive pricing; o Deceptive promotion (miss representing product features and customer not getting those)o Deceptive packaging (exaggerating contents of what’s inside); like in chips, they settle and say extra room is for freshness; also efficiencies in the supply chainCosmetics labeling- Before a new cosmetic goes on the market the FDA does not have to approve- A “natural” cosmetic does not actually have to be natural- “Hypoallergenic” product is not tested either- Claims can be false- “Cruelty free” can be worked around- Can not be assured that certain products were testedSocially responsible labeling- Clearly definedo Certified humane raised and handledo Animal welfare approved- family farmers or COOPo Grass-fed- governed by USDAo Fair Trade Certifiedo Organic- USDA Greenwashing- Unclear terms- look like environmentally sound but may not be 100% trueo Antibiotic-free; not allowed to be usedo Free range/ free roaming- USDA regulated- 5 minutes outside per dayo Low sugar- means nothing, look for reduced sugar (25% less than original) and no sugar addedo Natural- in meat: no artificial ingredients or added color but can include flavor enhancement GMO labelingCriticisms of marketing: individual consumers- High pressure selling- only done when desperateo Persuasiono Short-term vs. long-term gain- Shoddy of Unsafe Products: defense- we do not have the incentive to create unsafe product and also want to meet demand of new high quality productso Not made wello Little benefito Unsafe products- Obsolescenceo Planned- marketers are making products that we will have to replaceo Perceived- this is how consumers feel; people want innovations, why would firms hold back with so much competitionCitizen and Public Actions to regulate Marketing- Consumerism- movement of consumers to improve the rights and powers in relation to the sellers. Active consumer, being enlightened- Environmentalism- businesses and Gov. agencies look to be more sustainable- Legislation**starts with youKey words:Corporate social responsibilityBusiness ethics vs. marketing ethicsDeceptive practicesGreenwashingHigh pressure sellingObsolescence (planned and
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