Why Is Societal Marketing Concept Important For Many Companies Today To Consider This Concept For Long-term Survival?

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Shane Richardson Profile
The societal marketing concept is one that should not be confused with social marketing or social media marketing. It is a marketing concept that holds the idea that a company should make good marketing decisions by taking into consideration what their consumers want. The concept also states that marketing decisions should be made considering the company’s requirements and society’s long term interests. The societal marketing concept is closely linked with the principles of sustainable development and corporate social responsibility. Due to its emphasis on social responsibility, the concept suggests that if a company’s main focus should be on the exchange relationship with customers, then it may not be something that is suitable in order to sustain long term success. Instead companies should take on a marketing strategy that delivers value to customers in a way that maintains or improves both the consumer’s and the society’s wellbeing.

It is typically rather obvious to most companies that they can improve their image to customers, stockholders, the financial community and other relevant publics by taking part in socially responsible activities. It is well known that ethical and socially responsible practices are good business as they give the company a resulting favourable image that, in turn, can ultimately increase sales.

Many people have written about the topic and early papers about the societal marketing concept can be found by Philip Kotler, Sidney Levy and William Lazer. In July 1971 The Journal of Marketing presented a comprehensive discussion of the concept that was read by companies worldwide. The social marketing concept was a predecessor of sustainable marketing in the way that it includes issues of social responsibility into commercial marketing strategies. This is a contrast to social marketing that applies a customer orientated approach. This approach uses tools and concepts that commercial marketers incorporate in pursuit of social goals.
Aisha Profile
Aisha answered
Societal Marketing has gained immense importance during the past years. It is basically the marketing decisions of a company that not only consider the consumer's wants, the company's own requirements but also give importance to society's long term interests. It is based on the concept of social responsibility. It has become important because of changing consumer trends. People are now more concerned about the overall doings of a company. E.g People are really concerned about the use of child labor by companies such as Nike and it actually influenced the sales of its products. That is why, Nike is now trying to focus on the fact that it is not using child labor for its products and it is doing a lot for third world communities where its shoes are being manufactured.

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