Marketing 4-5-6

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Sustainable Marketing/Environmental Sustainability
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Terms in this set (24)
Sustainable Marketing/Environmental Sustainability
Socially and environmentally responsible actions that meet requirements of businesses and consumers while acting sustainably
Corporate Social Responsibility (CSR)
Behaving in a manner that balances a firms short term profit needs with long term societal requirements
Corporations have a CSR to...
Minimize negative impacts and maximize positive impacts in society when doing business
What are the 3 levels of CSR
1. Profit Responsibility
2. Stakeholder Responsibility
3. Societal Responsibility
Companies need to recognize when it comes to being socially responsible
They can do well by being good.
The rules or framework for individuals making decisions within organizations depends on
Individual values, societal norms, and corporate culture
The ethical/legal framework for marketing decision making is
a four quadrant matrix based on ethicality and legality
Ethical Unethical
Legal ___________l______________
Illegal l
What is the difference between data and information
data is the raw numbers, information is the data analyzed
Marketing Research is defined as
The systematic design, collection, analyzing and reporting a set of data relevant to a specific marketing problem/situation facing a company
The difference between environmental scanning and market research is
Environmental scanning-
general and constant
Market research-specific with one problem
Exploratory ResearchResearch to investigate a problem which is not clearly definedDescriptive ResearchGathering data to describe a marketCausal ResearchCause and effect of a direct problemMarketing research processdefine the problem, develop research plan, collect relevant info, develop findings, take marketing actionsSecondary data isfacts and figures that have already been prerecorded prior to the project at handprimary data isfacts and figures that are newly collected relating to the project at handprobability sampling iswhere all members of the population are equally likely to be selected for the samplenon probability sampling iswhere certain members of the population are more likely or even specifically selected to be part of the sampleExperimentationStages of the consumer buying process1. Problem/need recognition 2. Information seeking 3. Evaluation of alternatives 4. Purchase decision 5. Post-purchase evaluationRoutine purchases arePurchases that require little decision making. Every day type stuffLimited purchases aremid cost products-semi frequent purchases from somewhat familiar brandsComplex purchases areoften major cost-infrequent purchases and unfamiliar brands/markets4 factors influencing buying behaviorcultural-social-personal-psychological