Mergers and Acquisitions

SOCIETAL MARKETING CONCEPT – in brief

The societal marketing concept is an enlightened marketing conceptthat holds that a company should make good marketing decisions byconsidering consumers' wants, the company's requirements, and society'slong-term interests. It is closely linked with the principles of corporate socialresponsibility and of sustainable development. Under the Societal MarketingConcept organizations have to balance company profits, customers’ wantsand the society's interests

There seems to be a lot of confusion over what is meant by "societalmarketing". For one thing, it has nothing at all to with using socialnetworking sites as a marketing tool. Also, it is not the same as nichemarketing, or the targeting of marketing towards particular social groups,although there are connections.

It must also be distinguished from "social marketing", which refers tothe deliberate use of marketing techniques to achieve a social end, or whatmight be termed social engineering via the marketplace.

E.g. Marketing condoms with the stated aim of reducing HIV/Aids

infection

Societal marketing has only one meaning, which is the considerationof the wider social aspects of marketing a particular product to a particulargroup. It is therefore an aspect of ethical marketing.

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 alsogive importance to society's long term interests. It is based on the concept ofsocial responsibility. It has become important because of changing consumertrends. People are now more concerned about the overall doings of acompany. Consumers and investors increasingly appear to want to purchaseproducts and services from and invest companies that act in socialresponsible ways. As a bonus, these companies earn both tangible andintangible in a socially desirable manner, it just makes good...