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Chapter 3

Chapter 3. The Marketing Environment, Ethics, and Social Responsibility with Duane Weaver. Outline. Environm ental Influences Competitors Other Factors Consumerism & Social Responsibility. Environmental Influences. Competitive Environment.

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Chapter 3

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  1. Chapter 3 The Marketing Environment, Ethics, and Social Responsibility with Duane Weaver

  2. Outline • Environmental Influences • Competitors • Other Factors • Consumerism & Social Responsibility

  3. Environmental Influences

  4. Competitive Environment • Companies with a monopoly usually accept regulation in exchange for the exclusive right to serve a market segment • Recent deregulation has decreased monopolies in some industries, such as utilities • Oligopoly Limited number of sellers in an industry, where high start-up costs form entry barriers for new competitors Types of Competition • Direct―Among marketers of similar products • Example: Coca-Cola and Pepsi • Indirect―Involves products that are easily substituted for each other • Example: cola, iced tea, coffee, water • Competition among all firms that compete for the consumers’ purchases • Example: a vacation in Banff, Alberta OR a new car; consumer may not be able to afford both

  5. Other Environment Factors • Political-legal environment Component of the marketing environment consisting of laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights • Economic environmentFactors that influence consumer buying power and marketing strategies, including stage of the business cycle, inflation and deflation, unemployment, income, and resource availability E.G.: disposable income, demarketing… • Technological environmentApplication to marketing of knowledge based on discoveries in science, inventions, and innovations • Social-cultural environment Component of the marketing environment consisting of the relationship between marketing, society, and culture

  6. CONSUMERISM & SOCIAL RESPONSIBLITY • ConsumerismSocial force within the environment that aids and protects the consumer by exerting legal, moral, and economic pressures on business and government. • Basic consumer rights: The right to choosefreely, to be informed, to be heard, and to be safe • Social responsibility Marketing philosophies, policies, procedures, and actions that have the enhancement of society’s welfare as a primary objective.

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