Question

In: Economics

write a better definition for marketing. Justify your reasoning for the things you include. Hint, maybe...

write a better definition for marketing. Justify your reasoning for the things you include. Hint, maybe it could mention more of the different people who use marketing in a nontraditional sense and/or marketers’ responsibilities to buyers and society.

Solutions

Expert Solution

Socially responsible is when the organization is concerned about people, society and environment with whom it conducts business and where it does business. Socially responsible marketing in its most basic form is taking moral acts that promote a positive effect on all stakeholders of the company, including staff, society, customers and shareholders. In this context, marketers are largely responsible for packaging and communicating the decisions of the company that will affect the different audiences in which they communicate. Consumers have the right and the power to decide which companies are successful or failing; thus marketers have a major responsibility to ensure that their practices are seen as philanthropic

Ethical marketing is a philosophy with a focus on honesty , fairness and accountability. Though wrong and right are subjective, a general set of guidelines can be put in place to ensure the company’s intent is broadcasted and achieved. Practice principles include:

A shared standard of truth in Communications marketing
A difference between advertising and sensationalism
Backing should be clear and transparent
The privacy of customers should be conserved at all times
The advertisers must adhere to and follow policy guidelines and regulations.

Companies are aware of clever and opinionated consumers. So with that in mind, firms should create and integrate an ethically sound marketing plan into all aspects of their marketing mix.

Don't just look nice-concentrate on being responsible and how your company can really support the community or region. It is in doing so that it will impress your customers, the press and all those watching.
Talk of long-term results, not short-term benefits – for immediate gratifying rise, short-sighted businesses will undervalue the impact of responsible marketing.


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