ECOL20003 Lecture Notes - Lecture 12: Psychological Pricing, Customer Relationship Management, Marketing Ethics

• School: University of Melbourne
• Department: Ecology and Environmental Biology
• Course: ECOL20003

Document Summary

Social responsibility and ethics sustainability in general means the efficient use of natural resources in a way that those are not wasted and would be available for future generations as well. Sustainability is a broader term that has been adopted by different business / organizational functions. Sustainable marketing is one such example of those business functions. Sustainable marketing means efficiently meeting the needs of the consumers while persevering the ability of future generations to meet their consumer needs. Societal marketing concept has more of a current orientation for a business. However, sustainable marketing concept is future oriented with respect to business need. Business managers often feel that marketing concept along with strategic planning concept is more present oriented with respect to business need as it is relatively lesser cost oriented with immediate results, for example: profit. But it is the sustainable marketing which will ensure the long-term survival for a business in this fast-changing world.