Societal Marketing Concept
This article covers meaning, importance & example of Societal Marketing Concept from marketing perspective.
What is Societal Marketing Concept?
Societal marketing concept states that marketers should deliver products/services in such a way that it satisfies the needs of their target consumers, requirements of the company and maintains well being of the society at large.
In other words organizations must strike balance between consumer satisfaction, profits and long term welfare of society. The businesses should strive for growth but with focus on society as well and the impact of their businesses to the overall society.
Importance of Societal Marketing Concept
This concept places emphasis on social responsibility and suggests that for a company should deliver value to customers in a way that enhances both the consumer's and the society's well-being.
It is a marketing concept with social dimension to it. The focus is on to reduce inequalities at various levels. It is based on the concept of sustainable overall development and growth of businesses and markets.
Societal marketing concept forces the company to shift its focus from transaction to relationships. Societal marketing concept still keeps the customer needs as the most important aspect but it advocates the improvement in the means and processes to achieve them in order to improve the society as the same time. Using processes which have minimal wastage and environmental footprint but still meets customer needs and helps business grow by cutting costs can be one way to look at this concept.
Example of Societal Marketing Concept
(1) The body shop: The Body Shop is a well known cosmetic brand which has followed societal marketing concept rigorously. The company uses only plant based materials for its products. It is against animal testing, defends human rights, supports community trade, and works for overall protection of the planet. They have set up their own charity foundation to help the cause.
(2) Companies with emphasis on recycled products, green and organic products that reduces/eliminates the damage to environment also fall under the societal marketing strategy.
(3) Food companies providing healthy, nutritional and natural products are also examples of societal marketing strategy.
Hence, this concludes the definition of Societal Marketing Concept along with its overview.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
Continue Reading:
