Author Question: Describe projected changes in the 4p's of marketing - refer to the International Marketing: Future ... (Read 39 times)

kellyjaisingh · **on:** Jun 29, 2018

Describe projected changes in the 4p's of marketing - refer to the International Marketing: Future Perspectives section.

Question 2

Which of the following statements is true of marketing ethics?
A) They are not adopted by companies and industry groups.
B) They cannot be promoted in a firm's ads.
C) They are informal ethical codes of conduct.
D) They apply to relationships with customers.
E) They do not apply to relationships with employees, managers, suppliers, and other stakeholders.

britb2u · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

Many changes will take place in the product arena, where product life cycles will continue to manifest their current accelerating trend. International firms must be prepared for rapid new product introductions simultaneously in world markets, regardless of the markets' levels of development. As the world population grows, there will be significant changes in the consumption process. Environmental concerns will become critical, and pollution as well as the shortage of raw materials will place constraints on marketers. In the future, it is likely that substantial attention will be paid to environmental protection, and marketers will have to adapt their strategies to respond to consumers' and governments' environmental demands. In terms of promotion, firms will compete on their ability to resonate themes that appeal to world consumers, and most efforts will be in the area of integrating their messages. Integrated marketing communications are going to be standard for both international consumer product companies and for business-to-business communications. Furthermore, consumers will expect extensive information on the websites of companies with which they do business. With regard to distribution, companies will continue to pursue measures to reduce distribution costs by adopting just-in-time inventory systems and creating product flows rather than stocks. They will also coordinate their inventory systems with suppliers and clients through electronic data interchange. Moreover, companies will have to abide by post September 11, 2001, security measures, which will further reduce merchandise theft. Refer to International Marketing: Future Perspectives section (17-4).

Answer to Question 2

D