What do these firms have in common
1 / 32

What do these firms have in common? - PowerPoint PPT Presentation

  • Updated On :

What do these firms have in common?. Doing it Right . Social Profit Codes of ethics are written standards of behavior Issues addressed include bribery, political contributions, equal employment opportunity, environment, health, safety, etc. Figure 3.1 provides the AMA code of ethics.

Related searches for What do these firms have in common?

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

PowerPoint Slideshow about 'What do these firms have in common?' - bozica

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

Doing it right l.jpg
Doing it Right

  • Social Profit

    • Codes of ethics are written standards of behavior

    • Issues addressed include bribery, political contributions, equal employment opportunity, environment, health, safety, etc.

    • Figure 3.1 provides the AMA code of ethics

The consumer bill of rights l.jpg
The Consumer Bill of Rights

  • President John F. Kennedy outlines in his 1961 inaugural speech what came to be known as the Consumer Bill of Rights:

    • The right to be safe

    • The right to be informed

    • The right to be heard

    • The right to choose freely

Right to safety l.jpg
Right to safety

  • FDA – requires that food, drugs and cosmetics be safe. Guidelines for labels (contents, ingredients, nutrients, directions for use, weight, address, etc. Can remove hazardous products. Recall.

  • FTC – protects consumers from unfair and deceptive business practices (misleading information)

  • EPA

Right to be informed l.jpg
Right to be informed

  • Protect against fraudulent/misleading practices (need facts)

  • Puffery - ok

Right to be heard l.jpg
Right to be heard

  • Consumers can complain and express dissatisfaction.

  • Office of Consumer Affairs – direct you to appropriate government agency for further assistance.

Right to choose l.jpg
Right to Choose

  • Variety of products (generic, etc.)

  • No monopolies

  • Competitive prices, good quality

Consumer product safety commission l.jpg
Consumer Product Safety Commission

This product was recalled when a risk of electrocution was discovered

Ethics in the marketing mix l.jpg
Ethics in the Marketing Mix

  • Making a product safe

  • Pricing the product fairly

  • Promoting the product ethically

    • Puffery versus deceptive advertising

    • Firms found guilty for deceptive advertising by the FTC may be fined and required to run corrective advertising

  • Making the product available ethically

    • slotting allowances

Social responsibility l.jpg
Social Responsibility

  • Management philosophy in which organizations engage in activities that have a positive effect on society and promote the public good.

Environmental stewardship l.jpg
Environmental Stewardship

  • Firms make choices that protect the environment

  • Green marketing describes a type of environmental stewardship in which firms choose packages, product designs, and other aspects of the marketing mix that are earth friendly

Muir land trust l.jpg
Muir Land Trust

This organization

works to save

open spaces and to

support environmental

education programs

Cause marketing l.jpg
Cause Marketing

  • Strategy of joining forces with a not-for- profit organization to tackle a social problem

    • Straight donations to a charity

Promoting cultural diversity l.jpg
Promoting Cultural Diversity

  • Cultural diversity programs ensure that marketing policies and hiring practices give people an equal chance to work for the company and buy its products

Denny s l.jpg

Denny’s shows a

strong commitment

to diversity in every

aspect of its business

World trade l.jpg
World Trade

  • World trade refers to the flow of goods and services among different countries - the value of all the exports and imports of the world’s nations

  • What products do you own that were made in the U.S.? In other countries?

  • World Population Clock:

    • U.S. 303,604,280World 6,655,851,16519:30 GMT (EST+5) Mar 10, 2008

Borders and roadblocks l.jpg
Borders and Roadblocks

  • Protectionism is a government policy which seeks to provide home companies an advantage over foreign companies by implementing trade barriers

    • Import quotas

    • Embargos

    • Tariffs

Gatt and the wto l.jpg
GATT and the WTO

  • The General Agreement on Tariffs and Trade (GATT) developed by the United Nations after World War II - sought to moderate trade conflicts

  • GATT replaced (1995) by World Trade Organization (WTO)

  • Objective: “to help trade flow smoothly, freely, fairly, and predictably”

  • Role: acts as a forum for negotiations among countries, settles trade disputes, and assists developing countries with training programs

Economic communities l.jpg
Economic Communities

  • Countries band together to form an alliance

  • Such economic communities coordinate trade policies and ease restrictions on trade across the member borders

    • EU (European Union) (25 countries)

    • NAFTA (North American Free Trade Agreement) (3 countries)

    • APEC (Asia-Pacific Economy Cooperation) (22 countries)

Indicators of economic health l.jpg
Indicators of Economic Health

  • Gross Domestic Product (GDP) - the dollar value of goods and services a country produces within its borders within one year

  • Gross National Product (GNP) - the value of all goods and services produced by a country’s individuals or organizations, whether in or out of country borders

Economic development l.jpg
Economic Development

  • Less Developed Countries (LDC)

    • lowest stage of economic development

  • Developing Countries

    • economies shift from agriculture to industry; standards of living, education, and use of technology rise

  • Developed Countries

    • economically advanced countries; the G7 countries (US, UK, Canada, France, Italy, Germany, Japan)

Cultural environment l.jpg
Cultural Environment







Standardization versus localization l.jpg
Standardization versus Localization

  • Standardization suggests that greater efficiencies and economies of scale are generated when all marketing is the same in each country

  • Localization recognizes that customer satisfaction will be highest when the marketing mix is tailored to local needs and wants

Product decisions l.jpg
Product Decisions

  • Sell the same product in the new market (straight extension strategy)

  • Modify the product for the new market (product adaptation strategy)

  • Develop a brand new product for that new market (product invention strategy)

Toyota corolla iceland l.jpg
Toyota Corolla Iceland

Toyota has selected its Corolla to be a world car that is sold in all markets from Egypt to Iceland

Price decisions l.jpg
Price Decisions

  • Costs associated with transportation, tariffs, differences in currency exchange rates, and bribes may make a product more expensive in one country than another

  • Gray marketing - unauthorized party imports products and sells them for less

  • Dumping - a company prices its products lower than at home in order to establish a market

Issues for discussion l.jpg
Issues for Discussion

  • What about American culture might be objectionable to other countries? Can you think of some products that U.S. marketers export that might be objectionable to foreign markets?

Issues for discussion 3 l.jpg
Issues for Discussion_3

  • How concerned should firms that have international operations be about terrorism and other types of violence around the globe? Should they abandon global markets? Would avoiding countries in the Middle East make good sense in terms of economic profit? In terms of social profit?