Marketing Unit VIII
Malkta
unitviii_chapter18presentation.ppsxChapter 18
Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2014 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
CHAPTER EIGHTEEN
Lecture Notes for
Essentials of Marketing 14e
Multimedia Lecture Support Package to Accompany Essentials of Marketing
Lecture Script 20-‹#›
At the end of this presentation, you should be able to:
understand why marketing must be evaluated differently at the micro and macro levels.
understand why this text argues that micro-marketing costs too much.
understand why this text argues that macro-marketing does not cost too much.
understand all of the elements of the marketing strategy planning process and strategy decisions for the four Ps.
18-‹#›
At the end of this presentation, you should be able to:
understand why marketing must be evaluated differently at the micro and macro levels.
understand why this text argues that micro-marketing costs too much.
understand why this text argues that macro-marketing does not cost too much.
understand all of the elements of the marketing strategy planning process and strategy decisions for the four Ps.
This slide refers to material on p. 498.
Multimedia Lecture Support Package to Accompany Essentials of Marketing
Lecture Script 20-‹#›
At the end of this presentation, you should be able to:
know how to prepare a marketing plan and how it relates to the marketing strategy planning process.
know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers’ needs.
18-‹#›
At the end of this presentation, you should be able to:
know how to prepare a marketing plan and how it relates to the marketing strategy planning process.
know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers' needs.
This slide refers to material on p. 498.
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Lecture Script 20-‹#›
Ethical Marketing in a Consumer-Oriented World (Exhibit 18-1)
Marketing’s Impact on Society: Micro and Macro Views
Evaluating Marketing
Putting Together Innovative Marketing Plans
Challenges Facing Marketers
18-‹#›
Summary Overview
This chapter concludes Essentials of Marketing by covering three broad concepts:
Evaluating marketing
As indicated in Chapter 1, there are two levels of marketing:
the micro (managerial) level—concerns the marketing activities of an individual firm; and
the macro level—concerns how the whole marketing system works.
2) The key components of an innovative marketing plan.
3) Challenges facing marketers.
This slide refers to material on p. 499.
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How Should Marketing Be Evaluated?
Cost of Marketing
Evaluating
Marketing
Customer Satisfaction
18-‹#›
Summary Overview
This chapter suggests that satisfaction and costs serve as criteria for evaluating the impact of marketing.
Key Issues
A nation’s objectives affect the evaluation of marketing.
The social and economic objectives of a nation may differ depending on that nation’s socio-political structure.
Consumer satisfaction is the objective in the United States.
This objective is derived from a market-based economic system, and it implies that political freedom and economic freedom go hand in hand.
In the U. S., people have the right to live as they choose and to satisfy their economic and social needs as they choose.
Discussion Question: How is the marketing concept related to the marketing objectives and realities that characterize the United States?
This slide relates to material on p. 498.
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Can Consumer Satisfaction Be Measured?
Highly Personal
Depends On Individual Aspirations
A C S I
Key Issues
Many Measures for Micro-Marketing
18-‹#›
Summary Overview
Since consumer satisfaction is such an important objective, marketing’s effectiveness must be measured by how well it satisfies consumers.
Key Issues
One of the measurements is the American Customer Satisfaction Index (ACSI) done by the University of Michigan.
It is based on regular interviews with tens of thousands of consumers and covers 230 companies in 43 industries.
This sort of index makes it possible to track changes in customer satisfaction measures over time and to do comparisons across countries.
However, there are limits to this type of measure:
To some extent, satisfaction depends on individual aspirations. A level of performance that is satisfactory today may not be so in the future.
Consumer satisfaction is also highly personal. Therefore, looking at the average satisfaction level of a whole society does not provide a complete picture for evaluating macro-marketing effectiveness.
On the other hand, there are many measures of micro-marketing effectiveness.
Firms use attitude research, comment cards, e-mail surveys, consumer feedback, and other methods. Repeat purchase and profitability measures also provide some rough indicators of satisfaction.
Therefore, evaluating micro-marketing effectiveness is difficult, but not impossible.
Discussion Question: Why would it be wise for a firm to use several different types of measures to check customer satisfaction?
This slide refers to material on p. 499-501.
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Micro-Marketing Does Cost Too Much
Inability of Firms to Identify New Target Markets
Improper Blending of the 4 Ps
Lack of Interest in Customers
Sources of Marketing Inefficiency
18-‹#›
Summary Overview
Many firms are still too production-oriented and inefficient. As evidence of this fact, the failure rate is high for new products. The marketing efforts of inefficient firms can lead to dissatisfied customers.
Key Issues
Marketing inefficiencies, and the customer dissatisfaction that results from them, can be linked to one or more of the following reasons:
Lack of interest in or understanding of the customers.
Improper blending of the 4 Ps.
Lack of understanding or failure to adjust to the marketing environment.
Even if a firm listens to its customers, there’s no incentive for the customer to buy if the benefits of the marketing mix do not exceed the costs.
Discussion Question: What experiences of satisfaction and dissatisfaction have you had that are linked to micro-marketing costs?
The high cost of missed opportunities is a factor – too many companies stifle innovative thinking with layers of bureaucracy and a rigid mentality.
The inability to identify new target markets and opportunities is a sign of failure.
For many firms, micro-marketing does cost too much, but things are changing.
Many companies are becoming more customer-oriented and are recognizing that they need a diverse set of backgrounds and talents to meet the varied needs of their increasingly global customers.
This slide refers to material on p. 501-502.
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Macro-Marketing Does Not Cost Too Much
Reduces National Income and
Employment
Leads to Higher Prices and Restricted Outlook
Creates Monopolistic Competition
Critique of Macro-Marketing
18-‹#›
Summary Overview
Some critics argue that macro-marketing costs too much. A common criticism is that the macro-marketing system causes poor use of resources and leads to an unfair distribution of income.
Key Issues
Some people feel that marketing contributes to the development of monopolistic competition.
They contend that marketing leads to higher prices, restricted output, and reductions in national income and employment.
However, as firms succeed, success attracts competition and encourages innovation.
Leads to new investments, which contribute to economic growth and higher levels of national income and employment
This slide relates to material on p. 503.
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Other Criticisms of Macro-Marketing
Advertising Wastes Resources
Consumers Are Too Easily Controlled
Consumers Are Not Puppets
Needs and Wants Change
18-‹#›
Summary Overview
Marketers should be sensitive to other popular criticisms of macro-marketing.
Key Issues
Many critics are offended by advertising, the most often criticized micro-marketing activity. But what about the macro view of advertising?
Is advertising a waste of resources?
In relation to the volume of products sold, advertising is an efficient way to communicate product-benefit information.
This efficiency contributes to economies of scale in production, distribution, and sales.
Others argue that consumers are too easily controlled by business firms.
But consumers are not puppets—people are not as controllable as this criticism suggests. Competition offers consumers different alternatives.
Discussion Question: Who is more qualified than the individual consumer to determine his/her own requirements for goods and services?
Needs and wants change.
Marketers work to improve the overall quality of life by making products that lead to higher levels of need fulfillment.
This slide refers to material on p. 503-504.
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Lecture Script 20-‹#›
Interactive Exercise: Does Marketing Cost Too Much?
18-‹#›
The purpose of this drop and drag exercise is two-fold. First, the exercise helps students to distinguish between micro and macro level marketing issues. Second, the exercise seeks to reinforce the text’s stance pertaining to situations in which marketing does or does not cost too much. Four scenarios are described; students must first identify whether the scenario describes a macro or micro marketing issue. Then students must determine whether or not the described scenario represents an example of marketing costing too much, as discussed in Chapter 18.
For complete information and suggestions on using this Interactive Exercise, please refer to the “Notes on the Interactive Exercise” section for this chapter in the Multimedia Lecture Support Package to Accompany Essentials of Marketing. That same information is available as a Word document in the assets folder for the PowerPoint file.
This slide refers to material on p. 501-504.
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Lecture Script 20-‹#›
Does Marketing Make People Materialistic?
Create Values?
Does Marketing:
OR
Appeal to Existing Values?
18-‹#›
Summary Overview
There is no doubt that marketing caters to materialistic values. However, people disagree as to whether marketing:
(a) creates these values, or
(b) simply appeals to values that already exist.
Key Issues
Not only do consumers in a free society have choices, but they have virtually unlimited wants and needs.
Advertising informs people about products that will help fulfill their wants and needs.
Discussion Question: To what extent can marketers force consumers to use goods or services? Do marketers really just provide choices and leave it to consumers to decide if any of the choices serve their basic needs?
This slide refers to material on p. 504.
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Does Advertising Influence Social Values?
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
18-‹#›
This video is the U.S version of Dove’s “Evolution” ad. It shows the transformation of a model’s appearance from the original image to the image that is posted on a billboard, with the closing commentary “no wonder our perception of beauty is distorted.” This ad has been widely viewed across the web. What do you think of this ad and Dove’s strategy? How does this campaign relate to Dove’s positioning in the market? Is it in Dove’s self-interest? Is it helpful to society?
Video Operation:
Use the onscreen player controls to operate the video.
To view the video at Full Screen, right-click the video and choose Full Screen. To go back to your presentation you can either hit the Escape key, right-click on the video and uncheck Full Screen, or type Alt+Enter. You can do this at anytime during the video playback.
Under certain circumstances, the video may not fill the video player window. To restore, right-click the video player object and select Zoom 200%.
The videos will only play in Slide Show View. Macros must be enabled in order to play the videos from within PowerPoint.
This slide refers to material on p. 505.
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Lecture Script 20-‹#›
Marketing Reflects Our Own Values
Macro-Marketing Can Be More Difficult
Not All Needs Are Met
Products Improve Quality of Life
Macro-Marketing Can’t Eliminate Social Problems
18-‹#›
Summary Overview
Critics suggest that advertising elevates the wrong values, by overemphasizing sexual appeals and self-gratification.
Key Issues
Products do improve the quality of life, by making it possible to satisfy higher level needs.
For example the Internet empowers people with information in ways that could not be imagined a decade ago
In the short run, marketing reflects social values, and then enhances and reinforces them in the long run.
Not all needs are met.
Even in countries with well-developed macro-marketing systems, there are homeless people, illiterate adults, people who suffer discrimination, the sick, and the hungry.
High competition does help drive down prices, stimulate economic growth, create jobs, and spread income among more people.
Discussion Question: Is it the macro-marketing system that creates these problems?
Macro-marketing cannot eliminate all social problems or guarantee the success of government aid programs.
This slide refers to material on p. 504-505.
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Elevating the Wrong Values?
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
18-‹#›
Critics say that advertising elevates the wrong values. Some commercials allow such arguments—even give the arguments credibility—especially among certain groups of people. After viewing this commercial, would you say that it is promoting something wrong or bad? If not, then is the statement “Advertising elevates the wrong values” valid?
Video Operation:
Use the onscreen player controls to operate the video.
To view the video at Full Screen, right-click the video and choose Full Screen. To go back to your presentation you can either hit the Escape key, right-click on the video and uncheck Full Screen, or type Alt+Enter. You can do this at anytime during the video playback.
Under certain circumstances, the video may not fill the video player window. To restore, right-click the video player object and select Zoom 200%.
The videos will only play in Slide Show View. Macros must be enabled in order to play the videos from within PowerPoint.
This slide refers to material on p. 505.
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Lecture Script 20-‹#›
Checking Your Knowledge
The Department of Motor Vehicles (DMV) in a large U.S. state decided to conduct a survey to determine the level of satisfaction with its services among a random sample of consumers. The survey cost $25,000, and the results were positive--in general, people seemed reasonably satisfied with the DMV’s services. As the agency’s managers were busy congratulating themselves, one manager remarked, “So much for how people feel about us now. We’ll have to work even harder just to maintain the current level of customer satisfaction when we do the survey next year.” What would best explain this manager’s observation?
A. Different people might be surveyed next year.
B. Consumer satisfaction can’t be accurately measured.
C. People don’t think of themselves as “consumers” when they deal with government agencies.
D. Consumer expectations change over time and often increase.
E. The survey was probably biased this year because of poor sampling.
18-‹#›
Checking Your Knowledge
Answer: D
Feedback: The most logical explanation from the given answers would be that consumer expectations change over time. This manager is aware that the marketer’s job is to satisfy today’s consumer wants but also to keep looking for better ways to serve consumers. The best answer is ‘D’.
This slide relates to material on p. 504.
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Overview of Marketing Strategy Planning Process (Exhibit 18-2)
TARGET
MARKET
Segmentation and Targeting
Differentiation and Positioning
External Market Environment
Customers
Company
Competitors
S.
W.
O.
T.
18-‹#›
Summary Overview
Marketers have to make many decisions in developing a marketing mix that will satisfy their target customers. All of the variables comprising the marketing mix can be reduced to four basic categories.
Key Issues
The four Ps make up a marketing mix
The “four Ps” are combined in differing ways to match the needs and wants of different target markets.
Product: concerned with developing the right product for the target market.
Place: concerned with all the decisions involved in getting the right product to the target market’s place.
Promotion: concerned with telling the target market or others in the channel of distribution about the right product.
Price: concerned with the kind of competition in the target market and the cost of the whole marketing mix.
A marketing strategy is the 4 P’s and a particular target market.
Marketing managers must first assess the factors beyond their immediate control: customer’s behavior, competitors, or the external market environment. The company can not be changed in the short run.
This analysis is summarized in the SWOT – which identifies a company’s strengths and weaknesses and the market’s opportunities and threats.
Together this information helps the manager identify market segments and choose a particular segment to target – as well as decisions about differentiation and positioning.
Discussion Question: How does segmentation and targeting affect the marketing mix? How does a firm’s decision about how to differentiate or position affect the marketing strategy?
This slide relates to material on p. 506
Indicates place where slide “builds” to include the corresponding point (upon mouse click).
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Developing Different Marketing Mixes
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
18-‹#›
Marketing planning involves finding a marketing mix that will meet the needs of some target market(s) very well. Ideally, the strategy should take advantage of trends in the external market—not buck them or try to radically alter them. In this commercial, E-Trade attempts to differentiate itself from other online brokers, given the trend toward self-service electronic investing.
Video Operation:
Use the onscreen player controls to operate the video.
To view the video at Full Screen, right-click the video and choose Full Screen. To go back to your presentation you can either hit the Escape key, right-click on the video and uncheck Full Screen, or type Alt+Enter. You can do this at anytime during the video playback.
Under certain circumstances, the video may not fill the video player window. To restore, right-click the video player object and select Zoom 200%.
The videos will only play in Slide Show View. Macros must be enabled in order to play the videos from within PowerPoint.
This slide refers to material on p. 507-508.
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Lecture Script 20-‹#›
Checking Your Knowledge
Which of the following would a S.W.O.T. analysis classify as an “opportunity” for Microsoft:
A. Microsoft has a great deal of cash available for marketing strategies.
B. Microsoft develops new patented technology that makes its software run faster.
C. European trade regulators consider rulings that would require Microsoft to develop a new version of Windows for its market.
D. Emerging markets in Asia and Africa show increased demand for computers and software.
E. The company hires an expert in online advertising.
18-‹#›
Checking Your Knowledge
Answer: D
Feedback: S.W.O.T. analysis looks at a firm’s (internal) strengths and weaknesses as well as opportunities and threats in the external market environment. Opportunities are external to the company and provide a favorable advantage. Only answer ‘D’ fits these criteria.
This slide relates to material on p. 506.
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Strategy Decisions Areas Organized by the Four Ps (Exhibit 18-3)
18-‹#›
Summary Overview
Ideally, the four Ps must be creatively blended—so the firm develops the best mix for its target market. In other words, each decision must work well with all of the others to make a logical whole.
Key Issues
All the aspects of the product area, such as the product’s benefits, its quality, and its service dimensions, must match customer needs.
The marketing manager has the job of integrating the four Ps strategy decisions – it is easy for specialists to focus on their own areas and expect the rest of the company to work for or around them.
The ideas of the product manager, the advertising manager, the sales manager, the logistics manager, and whoever makes pricing decisions may have to be adjusted to improve the whole mix.
Discussion Question: How would marketing mixes differ for convenience, shopping, and specialty products?
This slide refers to material on p. 507-508.
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The Marketing Plan Brings All the Details Together
Types of Demand-Oriented Pricing
Key Parts
of a
Marketing Plan
Name of Product-Market
Special Implementation
Customer Analysis
Competitor Analysis
Company Analysis
Marketing Environment
Product
Place
Promotion
Price
Marketing Information
Needs
Forecasts and Timing
Control
18-‹#›
Summary Overview
Once the manager has selected the target market, decided on the marketing mix, and developed estimates of the costs and revenue for that strategy, the marketing plan provides a blueprint for implementation.
Key Issues
This slide shows the major sections of the marketing plan.
Individual chapters and Exhibit 18-4 provide more details on each topic area.
The marketing plan spells out the timing of the strategy.
The plan should include a time frame for each element of the plan and expected estimates of sales and profit, so that the plan can be compared with actual performance in the future.
Discussion Question: What is the marketing term that compares actual and expected performance?
A complete plan spells out the reasons for decisions about the marketing mix, by including information about customers, competitors, the environment, the company’s objectives, and its resources.
The plan should be routinely checked and updated.
As some elements of the plan or the marketing environment change, the whole plan may need a fresh approach.
This slide refers to material on p. 508-511.
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Communication Technologies
Role of Computerization
Marketing Research
Demographic Patterns
Business & Organizational Customers
Product
Channels and Logistics
Sales Promotion
Personal and Mass Selling
Pricing
International Marketing
General
Changes/Trends Affecting
Marketing Strategy
Planning
Some Important Changes and Trends Affecting Marketing Strategy Planning (Exhibit 18-5)
18-‹#›
Summary Overview
What types of challenges do marketers face in the future? What do consumers need from marketers?
Key Issues
Marketers must focus on providing value to consumers and adjusting their internal operations toward that end.
Change is the only thing that’s constant.
We need better marketing performance at the firm level.
A commitment to continuous improvement links needed changes in marketing strategies to specific changes in the environment.
This exhibit summarizes some of the changes and trends marketers have to deal with in the coming years. As you can see, many of them focus on technological improvements.
Marketers must constantly evaluate their strategies to make sure they are not outpaced by the competition.
A twist on the old adage now says, “If it ain’t broke, improve it.”
Marketing managers who take the lead in finding innovative new markets and approaches get a competitive advantage.
Discussion Question: Which of these changes is most likely to affect a retail store chain like Macy’s? Why? Which of these changes and trends are most important for Apple? Why?
This slide refers to material on p. 511-512.
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Technology, Globalism, and Social Responsibility
We Need To Use Technology Wisely
We Need To Welcome International Competition
We Need More Social Responsibility
18-‹#›
Summary Overview
What does the increased consumer interest in globalism, technology, and social responsibility mean for marketers?
Key Issues
We need to welcome international competition, because it is not a temporary phenomenon.
Instead of viewing international competition as a threat, marketers must realize that as macro-marketing systems improve worldwide, more consumers will have income to buy products—from wherever in the world those products come.
We need to use technology wisely.
Technological improvements force marketers to learn more, to be more flexible, to innovative in meeting consumer needs, and to take the time to consider the ethical implications of new technologies.
Technology gives the consumer power to expose unethical practices.
We may need more social responsibility.
Marketing managers need to learn how to interpret marketing activities from the consumer’s point of view. Long-run consumer welfare must be considered.
“Do unto others as you would have others do unto you” is a useful rule.
Discussion Question: Are there any limits to the marketer’s horizon when it comes to social responsibility? At what point in time does the marketer’s responsibility to a consumer end? When does the marketer’s responsibility to society in general end?
This slide refers to material on p. 511-514.
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The Environment Is Everyone’s Need
18-‹#›
Summary Overview
Marketers need to work harder and smarter at finding ways to satisfy consumer needs without sacrificing the current or future environment. Companies that produce products with environmental benefits will find greater success when those products deliver other benefits as well
Key Issues
This ad showcases a campaign by Owens Illinois that points out all the benefits of glass.
It stresses that besides being endlessly recyclable, things taste better in glass.
Products packaged in glass are healthier and higher in quality
Discussion Question: What are the benefits of being a firm that is widely recognized as “eco-friendly”?
We need the truth. Promotion provides powerful ways to communicate with customers.
This slide relates to material on p. 514-515.
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Legal and Ethical Concerns
Enactment and Enforcement
Consumer Privacy
Key Issues
Legal vs. Ethical
Impact on Top Managers
18-‹#›
Summary Overview
Various legal and ethical concerns will continue to challenge marketers in the years ahead.
Key Issues
As information technology helps marketers identify and serve target markets better, there is always the concern that very sensitive information, such as credit information, can be inaccurate and/or misused.
There is increasing pressure to enact more laws protecting consumer privacy.
In the area of privacy, and in other areas, we may need to change laws and how they are enforced.
Laws must protect consumers and enforcement should consider this a priority.
However, before enacting new laws, government decision-makers should evaluate the adequacy of laws that already exist.
Laws should also affect top managers. For example, prosecution of the top managers who set harmful policies would be more effective than going after lower-level operatives.
Laws merely define minimal ethical standards.
Other formal and informal codes of ethics exist that provide greater detail about what is acceptable and unacceptable behavior.
Discussion Question: Who bears the ultimate responsibility for making sure that marketing practices conform to reasonable ethical standards?
This slide refers to material on p. 516-517.
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Responsibilities of Consumers and Marketers
How Far Does the Marketing Concept Go?
Socially Responsible Consumers
Consumer-Citizens Should Vote on Changes
18-‹#›
Summary Overview
Achieving a better macro-marketing system is certainly a desirable objective. But what part should a marketer play in deciding what products to offer?
Key Issues
We need socially responsible consumers.
Some consumers abuse return policies in retail stores, change price tags in self-service stores, shoplift, and expect stellar customer service.
Honest consumers pay higher prices because of these abuses.
Consumers need to accept their share of the responsibility for preserving an effective macro-marketing system.
Consumers can take advantage of the information available from government and private sources that can help them to be more intelligent buyers.
Should marketing managers limit consumers’ freedom of choice?
Some things marketing managers do benefit both the firm and consumers. But other decisions reduce consumer choice and conflict with a desire to improve the effectiveness of our macro-marketing system.
Discussion Question: Should marketing managers limit consumers’ freedom of choice by not offering products that carry some risk to the consumer, even though consumers want them? Should they add costly safety devices to products if consumers go out of their way to disable the devices once they own the products?
Marketing managers should be expected to increase consumer choices, but consumer-citizens should vote on the changes—either through their purchase behavior or their involvement with government.
This slide refers to material on p. 519.
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Checking Your Knowledge
Which of the following statements indicates that a marketing manager is about to make a serious mistake?
A. “Competitors? I don’t worry about them. If we do our job, we’ll be OK regardless of what anyone else does.”
B. “I never thought I’d be leading our company into the international market, but there are simply too many opportunities there to ignore.”
C. “I don’t write the paychecks for my customer service staff—the customers do.”
D. “We’ve learned that good selling is really all about helping consumers solve their problems.”
E. “I welcome consumer complaints, because they let us know what we need to do to improve our service.”
18-‹#›
Checking Your Knowledge
Answer: A
Feedback: Throughout Chapter 18, evidence is presented that options B-E are legitimate comments for a marketing manager. Choice ‘A’ however, indicates that the marketing manager is about to make a serious mistake. It is never a wise decision to ignore the competition and, instead, have a tunnel-vision focus on the job. The best answer selection for this statement is ‘A’.
This slide relates to material on p. 511.
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Checking Your Knowledge
Which of the following marketing trends would you LEAST expect to see in the future?
A. Increased use of Web logs (blogs) by marketers.
B. More emphasis on product placement in movies and TV shows as a means of promotion.
C. More Spanish-language advertising in the U.S.
D. Increased share of market for online retailing compared to traditional retailing.
E. Less attention to distribution customer service.
18-‹#›
Checking Your Knowledge
Answer: E
Feedback: We have discussed changes in the market that support (are consistent with) options A-D. There is no mention in the chapter that less attention to distribution customer service will occur in the future. In fact, there is little reason to expect that consumers would be satisfied with backsliding by marketers on the service levels that they have come to expect. Also, competitive pressure will hasten improved service levels. The best answer selection is ‘E’.
This slide relates to material on p. 511.
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Lecture Script 20-‹#›
You should now be able to:
understand why marketing must be evaluated differently at the micro and macro levels.
understand why this text argues that micro-marketing costs too much.
understand why this text argues that macro-marketing does not cost too much.
understand all of the elements of the marketing strategy planning process and strategy decisions for the four Ps.
18-‹#›
You should now:
understand why marketing must be evaluated differently at the micro and macro levels.
understand why this text argues that micro-marketing costs too much.
understand why this text argues that macro-marketing does not cost too much.
understand all of the elements of the marketing strategy planning process and strategy decisions for the four Ps.
This slide refers to material on p. 498.
Multimedia Lecture Support Package to Accompany Essentials of Marketing
Lecture Script 20-‹#›
You should now be able to:
know how to prepare a marketing plan and how it relates to the marketing strategy planning process.
know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers’ needs.
18-‹#›
You should now:
know how to prepare a marketing plan and how it relates to the marketing strategy planning process.
know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers' needs.
This slide refers to material on p. 498.
Multimedia Lecture Support Package to Accompany Essentials of Marketing
Lecture Script 20-‹#›
