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Societal Marketing

In: Business and Management

Submitted By divyaaa
Words 1034
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Effective internal marketing must be matched by a strong sense of social responsibility. Companies need to evaluate whether they are truly practicing ethical and socially responsible marketing. Several forces are driving companies to practice a higher level of corporate social responsibility: rising customer expectations, changing employee expectations, government legislation and pressure, investor interest in social criteria, and changing business procurement practices.

The societal marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. They must balance and juggle the often conflicting criteria of company profits, consumer want satisfaction, and public interest.

The societal marketing concept is an enlightened marketing concept that holds that a company should make good marketing decisions by considering consumers' wants, the company's requirements, and society's long-term interests. (It is closely linked with the principles of corporate social responsibility and of sustainable development).

The concept has an emphasis on social responsibility and suggests that for a company to only focus on exchange relationship with customers might not be suitable in order to sustain long term success. Rather, marketing strategy should deliver value to customers in a way that maintains or improves both the consumer's and the society's well-being.

Most companies recognize that socially responsible activities improve their image among customers,...

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