case assignment

Learning outcomes

1. Understand and appreciate the need for ethical and social responsibility in marketing and business

2. Identify the key components of a situation analysis and understand why it is conducted

3. Appreciate marketing from an international perspective

Recap from last week

(AMA, 2017)

The marketing

process

Ethical and legal responsibility in marketing

• Ethics and laws address different things: • Ethics deals with moral principles and values. • Laws are society’s values and standards that are legally enforceable.

• Marketing decisions can be: 1. Ethical and legal 2. Ethical but illegal 3. Unethical but legal 4. Unethical and illegal

Corporate social responsibility and sustainability

What does it mean to be ‘sustainable’? Meeting the needs of the present without compromising future generations in being able to meet their own needs.

Ethics, social responsibility, and sustainable marketing are not just corporate fads

The process of marketing planning

The marketing environment

How do you eat an elephant?

Situation analysis Sometimes the 5 Cs framework is used to guide the situation analysis.

Internal environment (can control)

External environment (cannot control)

External environment (cannot control)

External environment (cannot control)

Internal analysis

The aim is to understand the company: • Resources • Capabilities • Competencies • Competitive advantage.

(Barney, 1991, 1995)

External analysis

• Market • Industry and competitors • Environment

Making sense of the situation

International marketing

• Sometimes called ‘global marketing’—operating in a world-wide market. Essentially, it is the application of marketing principles beyond the home country.

Standardisation vs. customisation

https://www.daytranslations.com/blog/wp- content/uploads/2019/01/How-McDonalds-Adapts-the-World-1.jpg

Summary

1. The marketing process involves understanding, creating, communicating, and delivering value for customers.

2. Ethics and law do not always align. Regardless, businesses must always ensure goals are pursued ethically. Marketers should adhere to ethical values to ensure business/marketing decisions do no harm to consumers.

3. CSR is implemented in businesses usually using the triple bottom line approach. Sustainable marketing is about making marketing decisions that ensure both the current and future generations are able to meet their needs. Consumers are demanding for more ethical and sustainable approaches from the companies they buy from.

4. Marketing planning involves understanding the situation, setting objectives within the given situation, and crafting a strategic plan to achieve those objectives.

5. The marketing environment has three levels: internal, micro, and macro environments. Each level needs to be analysed in order for decision makers to have a full understanding of the current situation of a business.

6. International marketing is the application of marketing principles beyond the home country, into international markets. The same principles apply but with a cultural sensitivity towards the target country.

7. When entering and competing in an international market, a company can either standardise or customise their offering, with pros and cons for each approach. The situation analysis helps decision makers understand which approach is best for a given company.