Societal Marketing Concept Brief Explanation

Subject: Marketing
Pages: 3
Words: 601
Reading time:
2 min

Strict conditions that are provided by modern competition in almost every market indicate that a company is to develop and apply an efficient management orientation. It seems essential to define an appropriate business philosophy founding it on a reasonable marketing strategy. Nowadays, many firms have recognized the fact that pursuing the aim of substantial profit margins is not enough to remain successful in the long run. Hence, it is vital to take into account not only the interest of the enterprise but also the needs of consumers and society. The societal marketing concept might fit the mentioned circumstances to a great extent.

In this paper, the concept above, as well as an example of a company that applies this approach, will be discussed. The societal concept of marketing is based on a new philosophy of entrepreneurship, focused on satisfying the reasonable, healthy needs of carriers of effective demand. Its goal is to ensure the long-term well-being of not only the company but also of society. The accent is on integrated marketing activities aimed at meeting the needs of the target market, taking into account the social and ethical essentials of culture. Under this strategy, the company, along with researching the needs of potential and real buyers, identifies public interests and strives to satisfy them.

The approach envisages situations where the efforts of various manufacturers in the field of marketing are at the same level, and the competition in the market is harsh. The company has a competitive advantage if it meets the needs of the buyer and if it cares about the welfare of society. The norms of societal marketing limit entrepreneurial initiative and production activity, as well as make it dependent on the guidelines of social development and the unconditional demand for the preservation of the environment.

The transition to developed commodity-money relations and a socially-oriented market economy inevitably leads to the formation of the marketing approach among enterprises that solves the problems of production and sale of goods and services. Naturally, this approach foresees a reorientation of all industrial and economic activities to consumers, considering their interests and preferences, as well as the rejection from the dictatorship of producers and suppliers. Thus, any company that conducts a societal marketing strategy cares about three interdependent and intersected factors: the welfare of society, customers’ needs, and profits.

A good example of an organization that adheres to the discussed policy might be Kia. For instance, in 2017, the firm made an advertisement video starring Melissa McCarthy, who acted as an eco-activist and promoted a new hybrid crossover. She was claiming the necessity of wildlife protection, which was mixed with the commercial element of the advantages of an upcoming car model that would fit the modern requirements of Kia’s clients. By this action, Kia demonstrated that it cared about the global problems affecting society, analyzed consumers’ needs, and did its best to get significant incomes.

Hence, it might be concluded that Kia is a firm that recognizes the benefits that may result from applying the societal marketing concept, as shown in the case above. It seems reasonable to summarize that societal marketing may be defined as a strategy that aims to deal with three issues: society’s welfare, client demand, and profits. This concept has become quite popular among large transnational companies as it puts the consumers’ and society’s needs in first place. It was assumed that Kia might serve as an excellent example of an enterprise that conducts such a policy.