Economic Growth: Sustainable Development

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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.
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