Chapter 03

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Slide 1: 

CHAPTER 3 Social Responsibility, Ethics, and theMarketing Environment

Learning Outcomes : 

2 Learning Outcomes LOI LO2 LO3 Discuss corporate social responsibility Describe the role of ethics and ethical decisions in business Discuss the external environment of marketing, and explain how it affects a firm

Learning Outcomes : 

3 Learning Outcomes

Learning Outcomes : 

4 Learning Outcomes Identify consumer and market reactions to the state of the economy Identify the impact of technology on a firm Discuss the political and legal environment of marketing Explain the basics of foreign and domestic competition LO9 LOIO LO8 LO7

Corporate Social Responsibility : 

5 Discuss corporate social responsibility Corporate Social Responsibility LOI

Corporate Social Responsibility : 

6 LOI Corporate Social Responsibility The idea that socially responsible companies will outperform their peers by focusing on the world’s social problems and viewing them as opportunities to build profits and help the world at the same time.

REVIEW LEARNING OUTCOME : 

7 REVIEW LEARNING OUTCOME LOI Corporate Social Responsibility

Ethical Behavior in Business : 

8 Describe the role of ethics and ethical decisions in business Ethical Behavior in Business LO2

Ethical Behavior in Business : 

9 LO2 Ethical Behavior in Business

Ethical Development Levels : 

10 LO2 Ethical Development Levels

Ethical Decision Making : 

11 LO2 Ethical Decision Making Influential Factors

Slide 12: 

Biz Flix Jaws 12 LO2

Code of Ethics : 

13 LO2 Code of Ethics

Creating Ethical Guidelines : 

14 Creating Ethical Guidelines Helps identify acceptable business practices Helps control behavior internally Avoids confusion in decision making Facilitates discussion about right and wrong LO2

Ethical Norms and Values for Marketers : 

15 LO2 Ethical Norms and Values for Marketers Exhibit 3.3

The External Marketing Environment : 

16 Discuss the external environment of marketing, and explain how it affects a firm The External Marketing Environment LO3

External Marketing Environment : 

17 LO3 External Marketing Environment

Target Market : 

18 LO3 Target Market

Social Factors : 

19 Describe the social factors that affect marketing Social Factors LO4

Social Factors : 

20 LO4 Social Factors

Social Factors : 

21 LO4 Social Factors

Social Factors : 

22 LO4 Social Factors Core American Values

The Influence of Values on Buying Habits : 

23 LO4 The Influence of Values on Buying Habits

Component Lifestyles : 

24 LO4 Component Lifestyles

Role of Families and Working Women : 

25 Growth of dual-income families results in increased purchase power Approximately 63% of work-age females are in the workforce Women expect different things in life purchase bulk of technology products do most of the grocery shopping second largest group of home buyers after couples Single households outnumber married households with kids LO4 Role of Families and Working Women

REVIEW LEARNING OUTCOME : 

26 REVIEW LEARNING OUTCOME LO4 Social Factors that Affect Marketing

Demographic Factors : 

27 Explain the importance to marketing managers of current demographic trends Demographic Factors LO5

Demographic Factors : 

28 LO5 Demographic Factors

Tweens : 

29 Tweens LO5 Pre- and early adolescents, age 8 to 14 Population of 29 million Purchasing power of $39 billion in 2007 View TV ads as “just advertising” Emerging as “the richest generation” and the “most influential generation in history”

Generation Y : 

30 Generation Y LO5 Born between 1979 and 1994 Population of 60 million Purchasing power of $200 billion annually Researchers have found Gen Yers to be: Impatient Family-oriented Inquisitive Opinionated Diverse Time managers “Street Smart” Word of mouth marketing is effective

Generation X : 

31 Generation X LO5 Born between 1965 and 1978 Population of 40 million Savvy and cynical consumers Time is at a premium, and outsourcing is utilized Entering their money-making years

Baby Boomers : 

32 Baby Boomers LO5 Born between 1946 and 1964 Population of 77 million—the largest demographic segment $1 trillion in spending power for people aged 50 to 60 Income will continue to grow as they keep working Four segments of baby boomers: “Looking for balance” “Confident and living well” “At ease” “Overwhelmed”

REVIEW LEARNING OUTCOME : 

33 REVIEW LEARNING OUTCOME LO5 Current Demographic Trends

Growing Ethnic Markets : 

34 Explain the importance to marketing managers of multiculturalism and growing ethnic markets Growing Ethnic Markets LO6

Growing Ethnic Markets : 

35 LO6 Growing Ethnic Markets Spending power of ethnic markets by 2008: Hispanics--$1 trillion African Americans--$921 billion Asian Americans--$526 billion Diversity can result in bottom-line benefits to companies.

Marketing to Hispanic Americans : 

36 Marketing to Hispanic Americans LO6 The population’s diversity creates challenges for targeting this group. Hispanics tend to be brand loyal, but are not aware of many U.S. brands. Nearly half of adult U.S. Hispanics have home Internet access.

Marketing to African Americans : 

37 Marketing to African Americans LO6 Many firms are creating products for the African American market. Promotional dollars and media choices directed toward African Americans continue to increase.

Marketing to Asian Americans : 

38 Marketing to Asian Americans LO6 Younger, better educated, and have highest average income of all groups Many products have been developed for Asian American market. Cultural diversity within the Asian American market complicates promotional efforts.

REVIEW LEARNING OUTCOME : 

39 REVIEW LEARNING OUTCOME LO6 Multiculturalism and Growing Ethnic Markets

Economic Factors : 

40 Identify consumer and marketer reactions to the state of the economy Economic Factors LO7

Economic Factors : 

41 LO7 Economic Factors

Consumers’ Incomes : 

42 LO7 Consumers’ Incomes Median U.S. household income in 2007 projected at $45,000 Incomes have risen at a slow pace. Education is the primary determinant of earning potential. Consumers are strapped for cash.

The Financial Power of Women : 

43 LO7 The Financial Power of Women Women bring in half of the household income. Women control 51.3 percent of the private wealth in the U.S. Women control 80 percent of household spending. Women are now the primary buyers in male-dominated categories: 68% of new cars 66% of computers 66% of home improvements 53% of investments 51% of consumer electronics

Purchasing Power : 

44 LO7 Purchasing Power

Inflation : 

45 LO7 Inflation

Recession : 

46 LO7 Recession

Recession Marketing Strategies : 

47 LO7 Recession Marketing Strategies Improve existing products and introduce new ones Maintain and expand customer services Emphasize top-of-the-line productsand promote product value

Technological Factors : 

48 Identify the impact of technology on a firm Technological Factors LO8

Research : 

49 LO8 Research

Technological Factors : 

50 LO8 Technological Factors U.S. excels at basic and applied research. Many firms use the market concept to guide research. New technology internally createsa long-term competitive advantage. External technology Creates more efficient operation or better products May render existing products obsolete

Technological Factors : 

51 LO8 Technological Factors Innovation is becoming a global process. New technologies create new opportunities RSS (Really Simple Syndication) Blogging

REVIEW LEARNING OUTCOME : 

52 REVIEW LEARNING OUTCOME LO8 Impact of Technology on a Firm

Political and Legal Factors : 

53 Discuss the political and legal environment of marketing Political and Legal Factors LO9

Political and Legal Factors : 

54 Political and Legal Factors LO9

Federal Legislation : 

55 LO9 Federal Legislation

Regulatory Agencies : 

56 LO9 Regulatory Agencies http://www.ftc.gov Consumer Product Safety Commission Federal Trade Commission Food & Drug Administration Protects consumer safety in and around their homes Prevents unfair methods of competition in commerce Enforces safety regulations for food and drug products

Powers of the FTC : 

57 LO9 Powers of the FTC

Consumer Privacy : 

58 LO9 Consumer Privacy

REVIEW LEARNING OUTCOME : 

59 REVIEW LEARNING OUTCOME LO9 Political and Legal Environment of Marketing

Competitive Factors : 

60 Explain the basics of foreign and domestic competition Competitive Factors LOIO

Competitive Factors : 

61 LOIO Competitive Factors

Competitive Factors : 

62 LOIO Competitive Factors Competition for Market Share and Profits Firms must work harder to maintain profits and market share. Global Competition More foreign firms are entering U.S. market. Foreign firms in U.S. now compete on product quality.

REVIEW LEARNING OUTCOMEPolitical and Legal Environment : 

63 REVIEW LEARNING OUTCOMEPolitical and Legal Environment LOIO

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