1. The Importance of Marketing in our Economy?
Plays an important role in responding to the Economic Conditions
Vital to business survival in creating Consumer Demand and Spending Behavior

2. The Goals Marketing Management and the of the Marketing System
Maximize consumption: Uses promotion and advertising to stimulate demand
Maximize consumer satisfaction:Stresses quality instead of quantity
Maximize choice:Goals are to increase selection and choice
Maximize life quality:Goals that stresses that all needs should be met

3. ECONOMIC CONDITIONS
PROSPERITY-A business cycle where income is relatively high and unemployment is low
RECESSION-A business cycle where buying power declines and unemployment rises.
DEPRESSION-A business cycle where unemployment is extremely high, disposable income is low and there is a lack of trust in the economy.
RECOVERY-A business cycle where the economy moves from depression or recession toward prosperity. Unemployment begins to decline and wages begin to rise

4. COMPETITIVE ECONOMIC CONDITIONS
MONOPOLY-One producer of a given product or service
OLIGOPOLY-Few producers market a large supply of a product or service
MONOPOLISTIC COMPETITION-When one company establishes a large percentage of the market
PERFECT COMPETITION-A condition that exists if there is a large number of suppliers of a particular product or service, none of which has enough leverage to control prices or supply

5. Consumer Demand and Spending Behavior
Buying Power-The ability of the consumer to make purchases
Disposable Income-Money left after taxes
Wealth-The total of all resources, financial, natural, and past income
Effective Buying Income(EBI)-Similar to disposable income and includes all income including but not limited to: salaries, wages, dividends, interest, less ALL TAXES
Buying Power Index(BPI)-A weighted index number used for comparisons

6. The Evolution of the Marketing Concept and its Social Impact
SIMPLE TRADE ERA-Products were made by the people who needed them & surplus items were traded or sold
THE PRODUCTION ERA-Industrial revolution fueled by mass production and pay based on output
THE SALES ERA-Beginning in the 1920’s into the 1950’s with a focus on advertising and encouraging the consumer to buy
THE MARKETING ERA-Began in the 1950’ s when businesses began to realize that in order to make a profit, they needed to satisfy customer’s needs & wants and there was a shift in focus to customer satisfaction and “TOTAL QUALITY”

7. Societal Marketing Concept

8. Ethics
The moral principles or values that generally govern the conduct of an individual.

9. The rules people develop as a result of cultural values and norms.
Morals
The rules people develop as a result of cultural values and norms.

10. Ethical Behavior in Business
Legal?
???
Judgments Vary

11. Code of Ethics
A guideline to help marketing managers and other employees make better decisions.

12. Creating Ethical Guidelines
Help identify acceptable business practices
Help control behavior internally
Reduce confusion in decision making
Facilitate discussion about right and wrong

13. Corporate Social Responsibility
Ethical
Do what is right.
Legal
Obey the Law.
Economic
Be profitable.
Philanthropic
Be a good citizen.

14. Based on your personal experience, what ways you have seen organizations implement the societal marketing concept.

15. DEBATE
Should fast-food restaurants use environmentally responsible packaging even when such packaging is less effective in preserving product quality?

16. Goals of the Consumer Movement
Product Safety
Honest Labeling
Ethical Advertising
Consumer Feedback

17. Examples of the company’s involvement in community relations
Contributions to disadvantaged members of the community
Fundraising efforts for education and public welfare
Fundraising effort to support the arts and recreation

18. Uses of the Marketing Concept in the Non-Profit sector
Non-Profit organization:An organization that markets ideas, activities or causes to achieve a goal other than making money
Social Marketing:Practices that try to influence ideas or causes
The target market for non-profit organizations are clients and contributors