COMM 104 Chapter Notes - Chapter 10: Dumpster Diving, Overconsumption, Relationship Marketing
7 Feb 2016
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Document Summary
The primary stakeholder for most marketers is the customer ethical marketers work hard to understand the wants and needs of their target market so that they can serve them in the most ethical and responsible manner. Why marketing ethics is even more important today. With the extensive competition in today"s markets, it is important for marketers to build positive relationships with their consumers, which are referred to as relationship marketing. When consumers stop trusting their marketers, they will immediately switch to other brands/products and marketers. This is why good ethics is at the heart of good relationship marketing. Because this is the era of social media, the reputation of a firm can easily be destroyed. In today"s society, it is no longer share of mind that matters, but share of heart. The spice acronym is used to help marketers remember key stakeholder groups: P partners, such as suppliers and retailers. I investors or shareholders of the firm.
