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Lecture Basic Marketing: A global-managerial approach: Chapter 22 - William D. Perreault, E. Jerome McCarthy

When you finish this chapter, you should: Understand why marketing must be evaluated differently at the micro and macro levels, understand why the text argues that micro-marketing costs too much; understand why the text argues that macro-marketing does not cost too much; know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers' needs. | Chapter 22: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges When you finish this chapter, you should 22-2 Chapter 22 Objectives 1. Understand why marketing must be evaluated differently at the micro and macro levels. 2. Understand why the text argues that micro-marketing costs too much. 3. Understand why the text argues that macro-marketing does not cost too much. 4. Know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers' needs. Lack of Understanding of the Marketing Environment Poor Blending of the Four Ps Lack of Interest ????? ????? ????? ????? ????? ????? 22-3 Micro-Marketing Costs Summary Overview Too many firms are still too production-oriented and inefficient. Their marketing efforts lead to dissatisfied customers. For these customers, micro-marketing costs too much. Micro-Marketing Costs Teaching Tip: The text encourages students to consider the information presented as a point of view. Try and get specific student experiences of satisfaction and dissatisfaction linked to either micro-marketing or macro-marketing costs. Marketing inefficiencies, and customer dissatisfaction that results from them, can be linked to one or more of the following reasons: Lack of Interest. Some firms are not interested in their customers! Perhaps they are diligently concentrating their energy on their production process. That may be well-intentioned but still cannot be excused in a modern, globally competitive economy. But in too many cases, companies aren’t concerned about customers. For such companies, micro-marketing (paid for by the customer, after all) costs too much. Improper Blending of the 4Ps. Some firms blend the 4Ps poorly because they are overemphasizing internal concerns over a customer orientation. This occurs when a product is developed to meet a manager’s need, not a customer’s. Inattention to demand in pricing and the setting of the other Ps is also common. Lack of . | Chapter 22: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges When you finish this chapter, you should 22-2 Chapter 22 Objectives 1. Understand why marketing must be evaluated differently at the micro and macro levels. 2. Understand why the text argues that micro-marketing costs too much. 3. Understand why the text argues that macro-marketing does not cost too much. 4. Know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers' needs. Lack of Understanding of the Marketing Environment Poor Blending of the Four Ps Lack of Interest ????? ????? ????? ????? ????? ????? 22-3 Micro-Marketing Costs Summary Overview Too many firms are still too production-oriented and inefficient. Their marketing efforts lead to dissatisfied customers. For these customers, micro-marketing costs too much. Micro-Marketing Costs Teaching Tip: The text encourages students to consider the information presented as a point of view. Try