In: Economics
select an article national and intertnational related to marketing, business or concepts about production, sales, market and societal marketing.
‘Societal Marketing’ is founded on the doctrine of social welfare. It highlights that a firm must make strategic decisions in marketing considering the customer wants, the organizational requirements & most essentially the long-run interests of the entire society.
Societal Marketing is actually an extension of the doctrines of CSR / Sustainable development. It emphasises that a firm shouldn’t ignore the community’s long-run welfare in obtaining it’s mission / vision. A firm should have moral & ecologically friendly policies & should make sure that proper actions & laws are executed
An example of a firm which is trying to follow the societal marketing notion is the Body Shop: The firm utilizes solely natural, vegetable-based ingredients for it’s items. It is completely against animal testing, it supports community trade, & the complete protection of the Earth. Hence, it completely practises the concept of Societal Marketing.