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Chapter 1: Analysing Marketing Environment, Conscious Marketing, CSR &…

- - - - consists of
        
        Technology
        
        gives life to
        
        New Forms of Communication
        
        New Retail Channels
        
        New Products
        
        Political/Legal
        
        is made up of
        
        Government Organisations
        
        Legislation and Laws
        
        consists of
        
        Product-related Legislation
        
        1 more item...
        
        Pricing-related legislations
        
        1 more item...
        
        Distribution-related Legislation
        
        1 more item...
        
        Advertising & promotion-related Legislation
        
        1 more item...
        
        Protecting Competition
        
        1 more item...
        
        Political parties
        
        Demographics
        
        Types
        
        Income
        
        Types of Income
        
        Disposable income
        
        1 more item...
        
        Gross income
        
        1 more item...
        
        Discretionary income
        
        1 more item...
        
        Education
        
        related to
        
        Gender
        
        Male
        
        Female
        
        Ethnicity
        
        involves
        
        Cultural Values and practices
        
        Cultural issues
        
        Generational Cohort
        
        Types
        
        Gen Y (Millenials)
        
        Gen Z
        
        Gen X
        
        Baby Boomers
        
        Social
        
        Trends
        
        Greener Consumers
        
        look to
        
        recycle
        
        upcycle
        
        purchase energy saving electronics
        
        using sustainable products
        
        Privacy Concerns
        
        includes
        
        invasion of privacy
        
        cookies
        
        close access to customer behaviour
        
        Health and Wellness Concerns
        
        give rise to
        
        fitness centres
        
        mobile apps
        
        Yoga Studios
        
        Culture
        
        consists of
        
        Regional Culture
        
        refers to
        
        culture differences in different states, cities of a country
        
        usually used in
        
        larger countries
        
        Country Culture
        
        refers to
        
        culture differences across countries
        
        Economic
        
        Factors
        
        Consumer Confidence
        
        consumer confidence high = low unemployment rate
        
        Inflation
        
        shows
        
        spending power
        
        1 more item...
        
        refers to
        
        the % increase in general price of goods over time
        
        1 more item...
        
        News article 1: Economy affecting employment rate
        
        Unemployment
        
        in Singapore
        
        2 more items...
        
        depends on
        
        1 more item...
        
        linked to
        
        1 more item...
    - - is
        
        centre of all marketing strategies
    - - consists of
        
        Corporate Partners
        
        that
        
        work with the company to create an efficient manufacturing system
        
        Company Capabilities
        
        refers to
        
        ability to satisfy customers' needs and wants
        
        Competitors
        
        refers to
        
        understanding competitors
- - - - Stakeholders
        
        Customers
        
        refer to
        
        consider effects of changes on their customers
        
        catered to by
        
        take shifts and trends into account & react to them quickly
        
        helps to
        
        increases consumer awareness
        
        1 more item...
        
        example
        
        respecting and protecting privacy
        
        Marketplace
        
        where
        
        firms follow the leader in conscious marketing
        
        example
        
        Eco-magination
        
        1 more item...
        
        Society
        
        refers to
        
        increase recognition of importance of diversity of stakeholders
        
        demands that companies act responsibly
        
        because
        
        damages fall onto all preceding stakeholders
        
        improve overall community and physical environment
        
        words toward
        
        Sustainability
        
        helps to
        
        benefit all stakeholders
        
        refers to
        
        impact of our actions on natural environment
        
        combines considerations of all stakeholders
        
        Employees
        
        include
        
        welfare of employees' family
        
        Basic Responsibility
        
        ensure a safe working environment
    - - refers to
        
        firm's leaders are dedicated to the proposition of being conscious at all levels
      - example
        
        NTU's no plastic on campus
      - News Article 2: why incorporating sustainable company culture is important
        
        Sustainable Company Culture
        
        starts from
        
        employees
        
        because
        
        working for a purpose-led company reduces their environmental impact (Kennedy, 2020)
        
        is when
        
        employees represent what the company stands for and its values (Kennedy, 2020)
        
        leads to
        
        more attractive workplace
        
        because
        
        employees being more likely to work for a company that matches with their own values (Kennedy, 2020)
        
        Risk
        
        Unable to engage employees as part of sustainability
        
        leads to
        
        loss of reputation (Kennedy, 2020)
        
        not meeting sustainability targets (Kennedy, 2020)
        
        higher turnover (Kennedy, 2020)
        
        employee dissatisfaction (Kennedy, 2020)
    - - refers to
        
        consumer decisions should be made on sound marketing ethics
    - - helps to
        
        improve outcomes of marketing actions
        
        improve input
      - although
        
        actual purpose may vary
        
        example
        
        ensuring employment opportunities
  - - - responsibilities associated with the demands, expectations, requirements and desires of various stakeholders
      - small scale short-term projects
        
        that are
        
        voluntary
        
        independent of future events
    - - address the ethical, social, and environmental impacts of its business operations
    - - Philantrophic Giving (Reputation Sciences, n.d.)
        
        involves
        
        giving money and/or resources to charity
        
        that is
        
        in line with the business
      - Volunteering Support (Reputation Sciences, n.d.)
        
        refers to
        
        companies creating opportunities for employees to volunteer for charities and organisations
        
        help
        
        local issues and engage in volunteering
        
        provide resources for charities in need
        
        strengthen bond and promote synergy between organisations, employees and the local communities that they are operating in
      - Labour and Diversity Practices (Reputation Sciences, n.d.)
        
        refers to
        
        company policies that address and adhere to fair labour and diversity practices
        
        improves
        
        workplace morale
        
        through
        
        establishment of a positive, inclusive corporate culture employees and leaders are proud of
        
        employees' work satisfaction
        
        because of
        
        feeling inclusive and important to the company
      - Environmental Conservation (Reputation Sciences, n.d.)
        
        examples
        
        Reducing firm's carbon footprint through alternative energy sources
        
        using only "green" cleaning products in office and manufacturing applications
        
        implementing a site-wide recycling programmed actively reducing company's waste
- - - - Example
        
        sale of products or services that may damage the environment
    - - Example
        
        use of child labour
    - - News Article 3: Customers prefer customers that have marketing ethics
        
        Expects
        
        Total transparency and honesty (Hyken, 2019)
        
        consider as "unethical"
        
        exaggerating or distorting the truth (Hyken, 2019)
        
        exploits vulnerable groups (Hyken, 2019)
        
        concealing important information (Hyken, 2019)
        
        shaming (Hyken, 2019)
        
        unrealistic or altered images (Hyken, 2019)
        
        high pressure sale (Hyken, 2019)
      - misrepresenting a product in advertising or marketing dangerous products
        
        misrepresenting a product in advertising or marketing dangerous products
  - - - refer to
        
        any special duties or obligations applicable to the person
        
        moral or ethical dilemmas that might arise in a business setting
    - - refer to
        
        examines ethical situation specific to marketing
      - includes
        
        societal, global or individual consumer issues
  - - - as
        
        Shows how the company make decisions about their products through its impact on society and environment
        
        Marketers interact the most directly with customers and suppliers
        
        Being a part of an ethically responsible firm should be important to every employee