Marketing
MARKETING AND SOCIETY:
A SOCIAL RESPONSIBILITY
OVERVIEW
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What is MARKETING?
-We define marketing as the process of creating consumer value in the form of goods, services or ideas that can improve the consumer’s life.
What is SOCIETY?
-We define society as the community of people living in a particular region and having shared customs, laws and organization.
What is SOCIAL RESPONSIBILITY?
-Social responsibility talks about the obligation of an organization or individual to act to benefit society at large. It is a duty of every individual or organization that has to perform so as to maintain balance between the economy and ecosystem.
SOCIAL CRITICISMS OF MARKETING
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Social criticisms of marketing are issues of marketing practices often criticized and may cause harm to consumers.
1. DECEPTIVE PRACTICES
Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. Deceptive marketing practice fall into three groups: a. Deceptive Pricing – retail prices are kept unethically higher before extending high discounts. b. Deceptive Promotion – Misinterpreting the product’s features or performance to misguide the consumers. c. Deceptive Packaging – Exaggerating package contents through subtle design, using misleading labelling or describing size in misleading terms.
2. HIGH PRICES
High prices amount to profiteering and exploitation of the consumer. This is due to: a. High cost of Distribution – Consumers pay for excessive distribution costs if there are too many intermediaries, inefficiency and duplication of services. b. High Advertising and Promotion Costs – Heavy advertising and sales promotion does make branded products costlier but assures a buyer of the quality. c. Excessive Mark-ups – This helps recover costs faster but may also hinder the building of
A SOCIAL RESPONSIBILITY
OVERVIEW
=============================================
What is MARKETING?
-We define marketing as the process of creating consumer value in the form of goods, services or ideas that can improve the consumer’s life.
What is SOCIETY?
-We define society as the community of people living in a particular region and having shared customs, laws and organization.
What is SOCIAL RESPONSIBILITY?
-Social responsibility talks about the obligation of an organization or individual to act to benefit society at large. It is a duty of every individual or organization that has to perform so as to maintain balance between the economy and ecosystem.
SOCIAL CRITICISMS OF MARKETING
=============================================
Social criticisms of marketing are issues of marketing practices often criticized and may cause harm to consumers.
1. DECEPTIVE PRACTICES
Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. Deceptive marketing practice fall into three groups: a. Deceptive Pricing – retail prices are kept unethically higher before extending high discounts. b. Deceptive Promotion – Misinterpreting the product’s features or performance to misguide the consumers. c. Deceptive Packaging – Exaggerating package contents through subtle design, using misleading labelling or describing size in misleading terms.
2. HIGH PRICES
High prices amount to profiteering and exploitation of the consumer. This is due to: a. High cost of Distribution – Consumers pay for excessive distribution costs if there are too many intermediaries, inefficiency and duplication of services. b. High Advertising and Promotion Costs – Heavy advertising and sales promotion does make branded products costlier but assures a buyer of the quality. c. Excessive Mark-ups – This helps recover costs faster but may also hinder the building of