MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Chapter 1, Problem 8MA
Summary Introduction
To discuss: The reason why companies like Company A embraces the ethical behaviour and societal need practices and example of these practices of Company A.
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A marketing system should sense, serve, and satisfy consumer needs while also improving the quality of their lives. Marketers may take actions by understanding customer needs and organizational practices, therefore marketing is currently facing many criticisms. Some of them are justified, while others are not. Certain marketing practises according to social critics, harm individual, consumers, and society as a whole, how to formulate this situation?
Critical Thinking Consider the differences in marketing
to consumer markets versus business markets. Which
aspects of the processes of product adoption and
diffusion apply to both markets? Which aspects are
unique to one or the other? Provide evidence of your
findings.
What needs to be present for an effort to be called social marketing?
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- From a marketing perspective, make a decision about whether participating in Black Friday madness makes sense, given your target market and customers. 1 Given this perspective, do you believe that ignoring Black Friday is a viable marketing decision? Why or why not? 2 What segment of the market do Black Friday and Cyber Monday target? Discuss whether you believe that the targeted market segments are the same for all businesses. 3 Finally, are you a Black Friday shopper? Why or why not?arrow_forwardDoes Marketing Create or Satisfy Needs? Marketing has often been defined in terms of satisfying customers' needs and wants. Critics, however, maintain that marketing goes beyond that and creates needs and wants that did not exist before. They feel marketers encourage consumers to spend more money than they should on goods and services they do not really need.arrow_forwardAssess the social and ethical considerations in targeting consumers and recommend in detail how Nike can implement this concept in better way.arrow_forward
- does marketing create or satisfy needs? Marketing has often been defined in terms of satisfying customers' needs and wants. Critics, however, maintain that marketing goes beyond that and creates needs and wants that did not exist before. They feel marketers encourage consumers to spend more money than they should on goods and services they do not really need. Take a position: Marketing shapes consumer needs and wants versus marketing merely reflects the needs and wants of customers.arrow_forwardSummarize the concern and the responses to the following social criticisms of marketing that argue the negative impact on individual consumers. A) Planned obsolescence B) Poor Service to disadvantaged consumers C) High-Pressure sellingarrow_forward'Marketing environment is ever changing and affect the business organizations to a great extent', Support your answer in the light of the above statement explaining micro and macro environment affecting business organizations.arrow_forward
- Identify the ethical valuesmarketers should embrace.arrow_forwardHow could social marketing alleviate society's problems? Explain your answer.arrow_forwardWhy do marketers like those at Apple find it important to embracesocietal needs and ethical business practices? Provide an example of asocietal need or ethical business practice that Apple is addressing.arrow_forward
- “Market Segmentation: Still the Bedrock of Commercial Success” (Source: https://www.marketingjournal.org/market-segmentation-still-the-bedrock-of-commercial-success-malcolm-mcdonald/) In light of the phenomenal advancements in marketing technology, it is important to dispel some of the popular myths surrounding market segmentation and explain why needs-based segmentation is still the main route to commercial success. The most common objective of modern commercial organizations is the sustainable creation of shareholder value. This can be achieved only by providing shareholders with a total return, from capital growth and dividend yield, that exceeds their risk-adjusted required rate of return for this particular investment. In today’s highly competitive environment, the major sources of shareholder value creation are the intangible marketing assets of the business, such as brands, customer relationships and channels of distribution, the 70% of the company’s value that does not…arrow_forwardWhat is the difference between conscious marketing and corporate socialresponsibility?arrow_forwardCritical Thinking The marketing concept focuses on the ability of marketing to satisfy customer needs. As a typical college student, how does marketing satisfy your needs? What areas of your life are affected by marketing? What areas of your life (if any) are not af- fected by marketing?arrow_forward
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