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JINESH JAIN, SWARNA LEKHA, ANUSHA PATIL, BINDU THUSHARA PGPBA:2012-2014, DATE: 09-11-2012, IGTC-BANGALORE
CONSUMERISM
Consumerism => emotional quotients + the purchasing of material possessions + consumption. It is multi-cultural and non-geographical. The comercial brand names and obvious status enhancing appeal play major part.
CONSUMERISM IN INDIA
The Indian market is currently taking a transition from a predominantly "sellers market" to a "buyers market.
Consumers choice gets influenced by the level of consumer awareness achieved. Process of realizing the rights of the consumer as envisaged in the Consumer Protection Act (1986).
CONSPICUOUS CONSUMPTION
The lavish spending on goods and services that are acquired mainly for the purpose of displaying income or wealth to attain or maintain social status.
OPPOSITION TO CONSUMERISM
Anti-Consumerists argue that many luxuries and unnecessary consumer products are social signals.
Makes people identify alike minded individuals and relate only with them to display social appeal. Strong belief that product relationships or brand names, substitute healthy human relationships.
ANTI-CONSUMERISM
Anti-consumerist activism is parallel to Environmental activism, Anti-globalization and Animal-rights activism.
RELIGION
SOCIAL ACTIVISM
Opposes materialism, some stating that it interferes with connection with the divine, or that it leads to an immoral lifestyle.
Social activists have linked forms of materialism with wars, crimes, and general social discomfort.
CONSUMER PRIVACY
Consumer Privacy
Range and quantity of Examines ethical business ethical issues principles and moral or reflects to which ethical problems in a business is perceived business environment. to be at odds with non Ethicism is seen its economical social increase. values. Business ethics can be
Marketing Ethics:
Marketing Research:
Invasion of privacy: Is a legal term defined as a violation of the right to be left alone. Most common privacy that are invaded in the eyes of law are as follows: Intrusion of Solitude Public disclosure of private facts False light Appropriation
Stereotyping:
Occurs because any analysis of real populations needs, make approximation and place individuals into groups.
Effects of Stereotyping: Justification of any ill found and prejudices and ignorance. Unwillingness to rethink ones attitude and behaviour towards stereotyped groups. Theres usually more than one stereotype for the same group.
TARGET MARKET
Ethical danger points: Targeting the vulnerable(e.g children, the elderly) Excluding potential customers from the market.
PRICING PRACTICES
Price fixing: Is an agreement between the business competitors to sell the same product or service at the same price.
Price Skimming: Involves charging a relatively high price for a short time when a new, innovative or much improved product is launched into the market.
Price Discrimination: Practice of selling a commodity at different prices to different buyers, even though sales cost are the same in all of the transaction.
Variable Pricing: A form of first degree price discrimination, characterized by individual bargaining and negotiation, and typically used for highly differentiated high value items.
Variable Pricing
Price Shading
Auction
Predatory pricing: Also known as destroyer pricing is a practice of a firm selling a product at a very low price with the intent of driving competitors out of the market, or create a barrier to enter the market for potential new competitors.
Supra Competitive Price: Is pricing above what can be sustained in a competitive market. Ex: A drug company.
Price Wars: Is a term used in business to indicate a state of intense competitive rivalry accompanied by a multi-lateral series of price reduction.
BID RIGGING
Bid rigging is a form of fraud in which a commercial contract is promised to one party even though for the sake of appearance several other parties also present a bid. This form of collusion is illegal in most countries
Advertising Media
MARKETING STRATEGY
Bait & Switch: deceptive way of selling that involves advertising a product at a very low price in order to attract customers who are then persuaded to switch to a more expensive product
PYRAMID SCHEME
A system of selling goods in which agency rights are sold to an increasing number of distributors at successively lower levels.
PLANNED OBSOLESCENCE
A policy of producing consumer goods that rapidly become obsolete and so require replacing, achieved by frequent changes in design, termination of the supply of spare parts, and the use of nondurable materials
VENDOR LOCK-IN
In economics, vendor lock-in, also known as proprietary lock-in, or customer lock-in, makes a customer dependent on a vendor for products and services, unable to use another vendor without substantial switching costs
VIRAL MARKETING
Gives away product or services Provide for effortless transfer to others Scales easily from small to very large Exploits common motivation and behaviors Utilizes existing communication networks Takes advantage of others resources
GUERILLA MARKETING
Low budget
Creative strategy
Publicity
SUMMARY
Consumerism & Marketing Ethics Business & Marketing Ethics
Consumerism in India Controversial Internet marketing strategies. Anti-Consumerism Consumer safety & Protection Corporate Social Responsibility
QUESTIONS
THANK YOU!!!