Societal Marketing Concept, Its Advantages And Examples: Hey guys, today I am sharing some useful information about social marketing concepts and its advantages as well. May this article helps you and blowup your mind.
Societal Marketing Concept, Its Advantages And Examples
What Exactly Is Societal Marketing?
According to the societal marketing concept, a company should make good marketing decisions by taking into account consumers’ wants, the company’s requirements, and society’s long-term interests.
The societal marketing concept hold that the organization’s task is for determining the needs, wants, and interests of target markets and for delivering the desire satisfactions more effectively and efficiently than competitors in a way that preserves consumer’s and society’s well-being,” writes Philip Kotler.
Societal Marketing improves the company’s image and boosts sales.
It’s not the same as social marketing or social media marketing. It is a term that is closely related to corporate social responsibility and sustainable development.
Societal Marketing emphasises social responsibilities and suggests that in order to survive.
It advocates for socially and environmentally responsible marketing that meets the current needs of consumers and businesses while also preserving or improving future generations’ ability to meet their own needs.
The panic button for global warming has been pressed, and a revelation is required to use our resources.
As a result, businesses are slowly, either fully or partially, attempting to implement the societal marketing concept.
The Goals Of The Societal Marketing Concept
Maintain Long-Term Customer Relationships
For projecting more positive image of the company in society than its competitors.
To Fulfil Its Social Responsibilities.
Increasing community awareness of its brands.
To Fulfil Its Social Responsibilities.
to broaden the consumer base and increase market share
Advantages And Disadvantages Of Societal Marketing Concept
- It contributes to the improvement of the company’s image.
- It provides a competitive advantage over rivals.
- Beneficial in terms of customer retention and long-term relationships.
- Boosts sales and market share.
- Long-term expansion and growth should be facilitated.
- Social welfare and society in general should be prioritised in products and company policies.
- Economic resources are used wisely.
- Societal marketing improves people’s living standards.
- It ensures that economic planning is more significant and beneficial to society.
The Importance Of Societal Marketing
Societal Marketing is critical for society, the environment, and businesses. This concept was created to address consumerism and profit, which is the sole motive of business.
The concept of societal marketing aids in the maximisation of profits for the organisation and the development of long-term relationships with customers.
Societal Marketing Case Studies
Recent examples of societal marketing are several companies’ Super Bowl 2017 commercials.
The majority of the advertisements addressed issues such as the environment and immigration. These come after President Donald Trump issued executive orders that sparked outrage.
The commercial for Kia’s “Hero’s Journey,” starring Melissa Mccarthy, is a prime example of societal marketing.
Coca-Cola releases an advertisement in which people of various ethnicities sing “America is Beautiful” in various languages.
Airbnb’s #WeAccept Super Bowl 2017 commercial.
Budweiser commercial depicting the immigrant founder of the company.
Therefore scope of societal marketing does not end there.
Therefore societal marketing policies encourage businesses to actively seek to change social policy, participate in social activities, and invest time and money in corporate social responsibility.
Hence the societal marketing concept questions whether the pure marketing concept overlooks potential conflicts between short-run consumer wants and long-run consumer welfare.
According to the concept of societal marketing, marketing strategy delivers value to customers in a way that maintains both the consumer’s and society’s well-being.”
Societal Marketing Instruments
Products Classified into four categories based on their long-term benefits and immediate satisfaction:
- Defective products provide neither long-term nor short-term benefits.
- Pleasing products provide immediate satisfaction but cause long-term harm in society.
- In the long run, salutary products provide low short-term satisfaction to the Nut Benefit society.
- Desirable products provide both long-term benefits and instant gratification.
Deficient products remove from the market base on societal marketing.
Products that are pleasing and beneficial to society must modify in order for providing both long-term benefits to society and immediate satisfaction to the consumer.
This means that these products should release into the market without make desirable. Rather than focusing on product sales, this approach focuses on consumer and societal well-being.