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Princ. of Marketing

Kotler, Armstrong, Principles of Marketing 11th ed, Ch 20 vocab

QuestionAnswer
Consumerism An organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers
Environmentalism An organized movement of concerned citizens and government agencies to protect and improve people’s living environment
Environmental sustainability A management approach that involves developing strategies that both sustain the environment and produce profits for the company
Enlightened marketing A marketing philosophy holding that a company’s marketing should support the best long-run performance of the marketing
Consumer-oriented marketing The philosophy of enlightened marketing that holds that the company should view and organize its marketing activities from the consumer’s point of view
Innovative marketing A principle of enlightened marketing that requires that a company seek real product and marketing improvements
Customer-value marketing A principle of enlightened marketing that holds that a company should put most of its resources into customer value-building marketing investments
Sense-of-mission marketing A principle of enlightened marketing that holds that a company should define its mission in broad social terms
Societal marketing A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long run interests
Deficient products Products that have neither immediate appeal nor long-run benefits
Pleasing products Products that give high immediate satisfaction, but may hurt consumers in the long run
Salutary products products that have low appeal, but may benefit consumers in the long run
Desirable products Products that give both high immediate satisfaction and high long run benefits
Created by: cannons
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