Societal Marketing
Societal marketing is the marketing approach under which firm marketing decisions are not only based on customer's needs and expectations or the organisation's goals but also the long-term society's interest. Organisations do not only exist to make profits, but it has some social responsibility towards society (Verbeke et al.2010, 434). The success of an organisation is based on the organisation's public relation approach. Firms that adequately invest in public relations enjoy the benefit of improved customer loyalty. There has been increased pressure within the operating environment forcing the organisation to engage in sustainable development. Under this, the organisation is to ensure that their activities have minimal adverse impacts on the environment. Marketing decisions have to be made in considerations of the entire society well-being (Saunders, Barrington & Sridharan, 2015, 169). Societal marketing promotes the brand image among its customers and consumers have started embracing the companies that appear socially responsible while shunning the firms which are profit driven.
Benefits of Societal Marketing
Societal marketing is the best persuading mechanism an organisation can use this because the approach presents a win-win situation for both parties (Kaplan and Andreas 2014, 531). Consumers will, therefore, tend to purchase from an organisation which appreciates them by giving back to society. Conquering the local market gives an organisation a competitive advantage over its competitors, through societal marketing a firm can quickly capture the local market. Marketing initiatives are undertaken to serve different operational objectives (Hague & Morgan, 2013, 20). These objectives are, to increase market share, to enhance market penetration and to enhance market retention. Whichever the goal for the initiative is, the marketing planners should ensure that they consider the well-being of the society at large. Societal marketing can be undertaken through; charitable donations, events sponsorship or offering scholarship opportunities (Goyat, 2011, 51). An organisation may also engage in environmental-friendly practices as a means of promoting its operations.
References
Goyat, S.(2011).The Basis of Market Segmentation: A Critical Review of Literature," European Journal of Business and Management, Vol. 3, No. 9, pp 45.54
Hague, P.N., Hague, N. and Morgan, C-A. (2013).Market Research in Practice: How to Get Greater Insight from Your Market, London, Kogan-Page, pp 19-20
Kaplan, Andreas (2014). Andreas Kaplan: European Management and European Business Schools: Insights from the History of Business Schools. European Management Journal. 32 (4): 529–534
Saunders, S. G.; Barrington, D. J. & Sridharan, S. (2015). Redefining social marketing: beyond behavioural change. Journal of Social Marketing.5 (2): 160–168.
Verbeke, Willem; Dietz, Bart; Verwaal, Ernst (2010). "Drivers of sales performance: A contemporary meta-analysis. Have salespeople become knowledge brokers?". Journal of the Academy of Marketing Science. 39 (3): 407–428
