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Definition of Sustainable Marketing Slide 1 Definition of Sustainable Marketing Slide 2 Definition of Sustainable Marketing Slide 3 Definition of Sustainable Marketing Slide 4 Definition of Sustainable Marketing Slide 5 Definition of Sustainable Marketing Slide 6 Definition of Sustainable Marketing Slide 7 Definition of Sustainable Marketing Slide 8 Definition of Sustainable Marketing Slide 9 Definition of Sustainable Marketing Slide 10 Definition of Sustainable Marketing Slide 11 Definition of Sustainable Marketing Slide 12 Definition of Sustainable Marketing Slide 13 Definition of Sustainable Marketing Slide 14 Definition of Sustainable Marketing Slide 15 Definition of Sustainable Marketing Slide 16
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Need a paradigm shift in the philosophy of marketing

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Definition of Sustainable Marketing

  1. 1. Lets define “Marketing” in a meaningful manner to suit the modern day By Maxwell Ranasinghe
  2. 2.  "Marketing is a way of proficiently understanding the role played by humans as a customer, finding out their needs and wants and delivering them through a managed business process with due regard to sustainable business practices that creates a better world"
  3. 3. Justificati on
  4. 4.  1. Marketing is not just a function of management. Long ago it is identified as a business philosophy.  2. Main focus of marketing is customer. Refer to earlier definitions of marketing like Adams Smith’s which we have now dropped even from our Study Text.
  5. 5.  (Adams Smith( 1776) “ Consumption is the sole purpose of all production and interest of product ought to be attended to, only so far as it may be necessary for promoting that of the consumer”)
  6. 6.  It talks about the core “the consumer” and " the activity the marketers should do” very well.  We need to revisit it and expand it to suit the modern day. That’s why we need to include  “Proficiently understanding the role played by human as a customer”.
  7. 7.  Customer means an individual as well as a group of people.  A Proficiently will adopt a skillful and methodical way of identifying the needs of the customer well.  Then there will not be a waste of resources and wrong decisions as the marketing would adopt a professional approach.  Further it will always give value for customers.
  8. 8.  3. Marketing is not just and activity or societal process: It cannot be restricted to creation, promotion, distribution and pricing of goods and services.  In my opinion these words should not be in a meaningful definition as it restricts the horizons of marketing
  9. 9.  It is a managed process which includes, planning, organizing and implementing.  It uses a many management tools to achieve goals.  Further it focuses much about developing sustainable relationship with customers.  Therefore the inclusion of “managed process” is very appropriate in our
  10. 10. Further the managed process was expanded to “managed business process” as all the organizations even the “non profit organizations” would prefer a margin over the cost of their operations. It could be monetary or otherwise. Therefore “managed business process” is included.
  11. 11.  Marketers have not taken much care about the needs of the society at large.  As a result, they are largely responsible in the degradation of environment, adopting unethical practices, considering the world as a bundle of resources available to satisfy the needs of the current human generation without taking the needs of the other living plants, animals and the needs of the future generation
  12. 12.  This would even go in line with the Buddhist philosophy that would shed lot of light in to a new paradigm in marketing.  Already well accepted societal marketing concept should be expanded and included in the mainstream marketing definition
  13. 13. It should not be added as an after thought or suffix Therefore the “sustainable business practices that creates a better world” is included
  14. 14.  The marketer should consider “society also as its customer” and therefore give value to society too.  With the current trend in the world, marketers would be the drivers of the world.  Therefore they need to have a broader vision of the whole world and have an attitude to work towards world’s sustainability
  15. 15. Having “sustainability” will :  Optimise the performance of your business create strong relationships with your customers, other businesses, staff and community,  balance your budget and ensure your financial sustainability,  help business community to prosper as a whole,
  16. 16.  Finally  It will reduce the much needed carbon footprint of your operations to safeguard the world that we live.  Thank You

Need a paradigm shift in the philosophy of marketing

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