COMM 223 Chapter Notes - Chapter 4: Consumer Product Safety Act, Planned Obsolescence, Customer Relationship Management
7 Apr 2017
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Document Summary
The marketing concept is a philosophy of customer value and mutual gain using it leads the economy by an invisible hand to satisfy the many and changing needs of consumers. But not all marketers follow the marketing concept; some companies use questionable marketing practices that serve their own rather than consumers" interests. Responsible marketers have to consider whether their actions are sustainable in the longer run. Sustainable marketing calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. Recognizes that organizations thrive by determining the current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than competitors do. Focuses on meeting the company"s short-term sales, growth and profit needs by giving customers what they want now. But focusing on satisfying consumer"s immediate needs and desires doesn"t always serve the future best interests of either customers or the business.
