Introduction
The concept of sustainable development was first introduced by IUCN world conservation strategy in 1980. Sustainable development is a technique of economic growth under which resources are used to meet not only the demand of present generation but also for generations to come.
Marketing act as a business philosophy, and a collection of management techniques, orientated towards providing value to consumers, organisations and society.
Sustainability in marketing
Sustainable marketing is the process in which products are produced that is environmental friendly at the retail level and also helps the company to maintain sustainable practices at the social relations level. The concept of sustainable marketing is a broader management concept which focuses on achieving the ‘triple bottom line’ through creating, producing and delivering sustainable solutions with higher net sustainable value whilst continuously satisfying customers and other stakeholders.
P’s of Marketing Mix
Marketing mix has been engaging the minds of practitioners and academicians alike for very long periods. The 4Ps as the mix was known has been the bulk of marketing literature for a very long period. They still occupy a major portion of any basic understanding of the subject with several modification and extensions. The 4 Ps are: The product, its price, place and promotion.
Following figure shows the 4 Ps of marketing mix
Four A’s of Sustainable Consumer Behaviour
The study of marketing shows the importance of consumer behaviour and the factors which affects the decision of a consumer. It is very necessary to understand the behaviour of consumer to evaluate the key points which are very useful for sustainable marke...
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...econdly, explain them by adopting desired behaviour will help in solving the issue. Lastly, explain them what is required and what is to be done.
In the end, from the above discussion we conclude that in the competitive business environment, it is social responsibility of the multinational companies which operate on large scale, should consider the environmental impact of their business and it should be sustainable so that the resources can be used efficiently at present and can be retain for next generation. Developing good sustainable marketing strategies will help the company to find threats, risks and opportunities. Although sustainable marketing strategies has adopted by many large firms but still there is need to improve. There is need to understand and aware the consumer. There is need to change our consumption behaviour today so that we can save our future.
The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
Gupta, K 2010, Innovative marketing strategy balancing commercial goal and corporate social responsibility. Mumbai [India: Himalaya Pub. House.
When it comes to defining the meaning of “sustainability”, there are many different perspectives from different people. One may say “sustainability” relates to “going green”, and another may conclude that it refers to reducing negative effects to the environment. These thoughts are not wrong at all, but I personally think “sustainability” in a broader concept since it can relate to many things such as business sustainability, social sustainability, or even human sustainability. For me, “sustainability” is simply about developing and sustaining something in an efficient and harmless way. For instance, I think of “sustainable business” as the way a specific business maximizes its profits and revenues through an efficient operation without causing any negative externalities. This essay will focus on the major ideas of sustainability and sustainable business, the relationship between profitability goals and sustainable business, and how marketing can be involved in this topic.
Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior. Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other.
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
It is natural to be misled by the idea that economic growth is the key
A marketing mix is what businesses use to detail the main functions of business marketing and do into further explanation as of how those functions influence the success or failure of a business. There are several different marketing mix tools, the four P’s is a very useful tool explaining the main functions of a marketing mix. A basic way of describing the marketing mix is the four P’s: Product,Place, Price, Promotion. A very important part of understanding how to use this tool is asking yourself questions that will help you understand each individual part of the marketing mix. Many people use this process to check their existing business to see if there are improvements to be made. The four P’s marketing mix system could also be used before starting a new business or offering a new product to give yourself guidelines on how to run your new business.
Sustainability simply defined to me as balancing act between the development of sustainability is necessary for both planet Earth and humans to survive. This is reinforced in the World Commission on Environment and Development report (1987) that sustainable development must meet the needs of the present without compromising the well-being of future generations”. The Earth Charter Organization widened the idea of sustainability to respect for a culture of peace, universal human rights, nature, and economic justice (What is sustainability?, n.d.).
Sustainable development means that the present generations should be able to make use of resources to live better lives in such a manner that it doesn’t compromise the ability of future generations to survive and make better lives for themselves as well. For sustainable development to occur, there needs to be sustainable economic, ecological and community development. Society needs to be educated about ways in which they can use resources, especially natural, in such a manner that it doesn’t cause harm to the environment and put future generations lives at risk.
While a number of organizations have not adopted a sustainable operations management strategy, large retail firms like Morrison, Wal-Mart, Marks and Spencer, and Sainsbury’s have adopted this concept into their management strategies in order to reflect customer concerns and thus sustain the competitive advantage. Many larger firms are willing to promote sustainable operations in their markets because this strategy arguably attracts and retains customers.
Marketing is defined as follows: Marketing is the process of interesting potential customers and clients in your products or services. In this essay, I am going to address the concept of “social marketing” and how does social marketing differ from “societal marketing” or “socially responsible marketing” in the first part, and in the second part, I am going to provide examples of each of the three approaches to marketing and analyse how these represent a departure from traditional marketing practice.
Sustainable development refers to not only meet the needs of contemporary people, but also not compromising the ability of future generations to meet development needs.Sustainable development and environmental protection have established contact, not the same. Environmental protection is an important aspect of sustainable development. The core of sustainable development is development, but requires strict control of the population, improve population quality and protect the environment for the conduct of economic and social development under the premise of sustainable use of resources.
In class we discussed what sustainable development meant to us; each group had its own definition. Our group’s definition was that sustainable development is for the long term for future generations, for the basic needs such as food, clothing, shelter, and job. The basic will increase over time and our resources will diminish, which why sustainable development is important. Sustainable development is important for future generations so that they end up with a world better than ours. Sustainable development is achievable if society works together to meet everyone’s basic needs and create a better world.