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This question is about marketing communications manager skills.
What is societal marketing?
Societal marketing focuses on the social responsibility of businesses to make positive impacts on society. It looks at the ethical, environmental, and social implications of a product or service, and the impact it has on customers, employees, shareholders, and the community.
The main objectives of societal marketing are maintaining long-term relationships with customers and building a positive brand. Social marketing follows that a company should make good marketing decisions by considering consumers' wants, the company's requirements, and society's long-term interests.
In particular, the organization's task is to determine the needs, wants, and interests of target markets, and to deliver the desired results more effectively and efficiently than competitors in a way that enhances or preserves the consumer's or society's well-being.
Societal marketing argues that a company should balance three things in its marketing strategies: company profits, consumer wants, and society's interests
Society (Human Welfare) - companies must make sure the products, services, actions, and investment innovations serve society first.
Consumers (Satisfaction) - products and services should be satisfying the consumer's needs.
Company (Profits) - building long-term customer relationships, being socially responsible, and providing satisfactory products are important for profit-making and wealth maximization.
Societal marketing has numerous advantages including helping to build a better company image, a tool to increase sales and market share and raising the living standard of society. Societal Marketing is essential to society, the environment, and businesses.
This concept was developed to tackle consumerism and profit, only the motive of business. It encourages developing products that benefit society in the long run and satisfies consumers.
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