Marketing Strategies, Ethics, and Generational Consumer Trends

Characteristics of Aggressive Marketing Techniques

Marketing strategies are rated according to their assertiveness, risk propensity, financial leverage, product innovation, and speed of decision-making. Typically, the range of aggressive strategies is classified into four categories: prospector, defender, analyzer, and reactor.

Factors Influencing Ethical Decision-Making

Ethical choices in business are primarily driven by values and morals.

Unethical Marketing Practices

Marketing managers must navigate several common unethical practices, including:

• Entertainment and gift-giving
• False or misleading advertising
• Price deception
• Unsafe products or services

Generational Consumer Profiles

Tweens

Highly participative and connected via internet and mobile devices. They are achievement-oriented, active in social networking, and use the internet for self-expression and escapism.

Baby Boomers

Prioritize individual choice, community involvement, prosperity, ownership, self-actualization, and health and wellness.

Gen X

Value contribution, feedback, recognition, autonomy, and direct time with management.

Gen Y

Prioritize self-expression over self-control. They focus on personal branding, view violence as a communication tool, fear financial instability, and believe respect must be earned rather than granted by authority.

Boomerangs

Individuals in their late 20s to early 30s who return to live with parents. They are often financially tied to their parents, may lack a college degree, or are dissatisfied with current wages.

Corporate Ethics and Stakeholders

Stakeholders: Identifying parties affected by corporate actions, such as those involved with Southwest Airlines.

Ethics Training: Corporations implement training to help employees understand their critical role in maintaining company principles.

Strategic Business Concepts

Strategic Business Units (SBUs)

A profit center focusing on specific product offerings and market segments. SBUs maintain discrete marketing plans and competitive analyses despite being part of a larger entity.

Strategic Alliances

Agreements between independent organizations to pursue shared objectives. This cooperation exists between organic growth and mergers or acquisitions.

Synergistic Divisions

Two or more divisions collaborating to create an output greater than the sum of their individual efforts.