Companies such as IBM, Walmart, and Google now look beyond economic gain and, in their marketing strategies, they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy?

Question

Business

Donald Bradley

8 March, 16:22

Companies such as IBM, Walmart, and Google now look beyond economic gain and, in their marketing strategies, they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy?

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Answers (1)

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Kate Murphy · Answer 1

The societal marketing concept

Explanation:

Societal marketing refers to the marketing idea that maintains that a firm should make creative decisions not only through taking into account the needs of customers, the criteria of the corporation, but also the lengthy-term interests of society.

The principle of societal marketing holds that the role of the company is to assess a target market's desires, wishes and preferences and to produce the desired satisfactions more effectively and efficiently than rivals in a manner that maintains or improves the very well-being of all individual consumers and general society.