1) The document discusses the need for a new definition of marketing that incorporates sustainability and addresses social and environmental issues.
2) It analyzes previous marketing definitions and their limitations in considering sustainability. It proposes a new definition that views marketing as "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) The justification provided is that the new definition shifts the focus of marketing to customers and society, considers it a managed process, and emphasizes the need for sustainable practices.
Marketing capabilities and innovation-based strategies for environmental sustainability: An exploratory investigation of B2B firms by
Babu John Mariadoss a,1, Patriya Silpakit Tansuhaj a,1, Nacef Mouri
Impact of Marketing Strategy on Business Performance A Study of Selected Smal...IOSR Journals
This research paper investigates the impact of marketing strategy on business performance with special reference to the selected SMEs in Oluyole local government area Ibadan, Nigeria. The survey research design method was used in this study which involves using a self-design questionnaire in collecting data from one hundred and three (103) respondents. The instrument used in this study is a close-ended questionnaire that was designed by the researchers. Correlation coefficient and multiple regression analysis were used to analyze the data with the aid of statistical package for social sciences (SPSS) version 20. The results show that the independent variables (i.e Product, Promotion, Place, Price, Packaging and After sales service) were significant joint predictors of business performance in term of profitability, market share, return on investment, and expansion.(F(6, 97) = 14.040; R2 = 0.465; P< .05). The independent variables jointly explained 46.5% of variance in business performance. Subsequently, recommendation were made to SMEs operators to produce quality products; charge competitive prices, position appropriately, use attractive package for the product, engage in after sales service and provide other distinctive functional benefits to consumers.
Marketing capabilities and innovation-based strategies for environmental sustainability: An exploratory investigation of B2B firms by
Babu John Mariadoss a,1, Patriya Silpakit Tansuhaj a,1, Nacef Mouri
Impact of Marketing Strategy on Business Performance A Study of Selected Smal...IOSR Journals
This research paper investigates the impact of marketing strategy on business performance with special reference to the selected SMEs in Oluyole local government area Ibadan, Nigeria. The survey research design method was used in this study which involves using a self-design questionnaire in collecting data from one hundred and three (103) respondents. The instrument used in this study is a close-ended questionnaire that was designed by the researchers. Correlation coefficient and multiple regression analysis were used to analyze the data with the aid of statistical package for social sciences (SPSS) version 20. The results show that the independent variables (i.e Product, Promotion, Place, Price, Packaging and After sales service) were significant joint predictors of business performance in term of profitability, market share, return on investment, and expansion.(F(6, 97) = 14.040; R2 = 0.465; P< .05). The independent variables jointly explained 46.5% of variance in business performance. Subsequently, recommendation were made to SMEs operators to produce quality products; charge competitive prices, position appropriately, use attractive package for the product, engage in after sales service and provide other distinctive functional benefits to consumers.
ENVIRONMENT - Overview
Macro Environmental Factors
Factors Specific to Business & Task
Industry Analysis: Analyzing the Task Environment
SWOT Analysis
Resource-Based View (RBV)
VRIO Analysis
Value Chain Analysis
Exploring the Marketing Competencies of Women Entrepreneurs in Micro-Small En...AkashSharma618775
This study deals with the marketing competencies and capabilities of women entrepreneurs who own and
manage micro-small- and medium (MSMEs)ventures in traditional and non-traditional lines of activities within
the urban settings in Khartoum State, Sudan. Entrepreneurial and marketing competencies are part of the
dynamic components that contribute to venture survival and success especially for women-owned/ managed MSEs.
This study addresses the perceived knowledge gap in the literature regarding the marketing competencies of
women entrepreneurs, using the marketing mix approach and the resource-based theory. It is a qualitative study
which follows an interpretive approach and applies grounded theory techniques. The study is framed within the
Marketing Mix approach and the resource-based theory highlighted within a gendered perspective. It examines
how women entrepreneurs perceive and apply the marketing function within their MSEs to maintain success
within highly competitive, turbulent and unpredictable markets. In such conditions it is essential to understand
what marketing competencies do these women entrepreneurs are endowed with and utilize while practicing the
marketing function in their entrepreneurial ventures and thrive for high performance and success.
ENVIRONMENT - Overview
Macro Environmental Factors
Factors Specific to Business & Task
Industry Analysis: Analyzing the Task Environment
SWOT Analysis
Resource-Based View (RBV)
VRIO Analysis
Value Chain Analysis
Exploring the Marketing Competencies of Women Entrepreneurs in Micro-Small En...AkashSharma618775
This study deals with the marketing competencies and capabilities of women entrepreneurs who own and
manage micro-small- and medium (MSMEs)ventures in traditional and non-traditional lines of activities within
the urban settings in Khartoum State, Sudan. Entrepreneurial and marketing competencies are part of the
dynamic components that contribute to venture survival and success especially for women-owned/ managed MSEs.
This study addresses the perceived knowledge gap in the literature regarding the marketing competencies of
women entrepreneurs, using the marketing mix approach and the resource-based theory. It is a qualitative study
which follows an interpretive approach and applies grounded theory techniques. The study is framed within the
Marketing Mix approach and the resource-based theory highlighted within a gendered perspective. It examines
how women entrepreneurs perceive and apply the marketing function within their MSEs to maintain success
within highly competitive, turbulent and unpredictable markets. In such conditions it is essential to understand
what marketing competencies do these women entrepreneurs are endowed with and utilize while practicing the
marketing function in their entrepreneurial ventures and thrive for high performance and success.
The Good, the Generous and the Galvanic: Marketing's Role in Social Responsib...Sustainable Brands
This paper explores an area that is returning to the consciousness of organisations and marketers as they simultaneously grapple with shareholders’ growing demands for bottom line performance with the community expectation for them to be more socially, environmentally and ethically responsible.
The paper is designed to stimulate thinking and debate within organisations and the broader marketing community by highlighting key issues around social responsibility and their connection with marketing at multiple levels. In particular, it explores how marketers could play a more proactive role in enabling organisations to become increasingly responsible socially, environmentally and ethically while ensuring the sustainability of bottom line performance.
The prospective paradigm of Marketing Studies: Internet of ThingsYiğit Kalafatoğlu
A Semi-Academic Journal about #IoT:
Today’s entry-level technologies are tomorrow’s daily rutine. Especially in urban life cycle, technology driven solutions has been a common, normal expectation of daily lives. When we consider digital natives, we see that they have been living their lives out loud through social media. This is just the beginning. What social media brought to the discipline of marketing is just outdated now. We need to reconsider; what is next?
Neil Borden - The Concept Of The Marketing Mix - Artigo original de 1949W. Gabriel de Oliveira
Artigo de Neil Borden com publicação em 'Science in Marketing, George Schwartz (Ed.), New York: John Wiley, 1964'. Fala, pela primeira vez, do composto de marketing. Para escrever o artigo, Borden teve como base o trabalho de James Culliton, que se referia ao gestor de negócios como alguém que mixava diversos ingredientes. Foi assim que a expressão "Composto de Marketing" ganhou a divulgação no mercado. Somente anos depois, McCarthy veio traduzir o composto de marketing de Borden nos 4P's do Marketing mundialmente conhecido hoje.
DETERMINE THE INFLUENCE OF INTEGRATED MARKETING COMMUNICATION ON CONSUMER DEC...IAEME Publication
In today’s marketing environment, promotion involves integrated marketing communication (IMC). In a pharma sector, IMC involves bringing together a variety of different communication tools to deliver a common message and make a desired impact on customers’ perceptions and decision making. Further to the evolution of modern marketing, where IMC has become a major way of achievement the objectives of a company, there is a need to identify opportunities to increase its impact on consumer decision making. Therefore, is of interest, the relatively recent approach found in the literature, according to which IMC works specifically through all the four classic elements of the marketing mix: product, price, placement and marketing communications. The present study is focusing on Determine the influence of Integrated Marketing Communication on consumer decision with respect to pharmaceutical sector in Tamilnadu.
7 Managing Marketing Activities
Thomas Northcut/Digital Vision/Thinkstock
Marketing is too important to be left to the marketing department.
—David Packard
Learning Objectives
After reading this chapter, you should be able to do the following:
• Define marketing and explain how the marketing concept is patient centered in HCOs.
• Discuss the relationship between organizational planning and marketing planning with regard to objectives
and strategies throughout the planning levels.
• Name the three basic marketing strategies that can be used under the product/market approach to market-
ing strategy development, identify two other approaches to marketing strategy development, and list four
factors influencing the strategy selection.
• Discuss how the four strategic elements of the marketing mix become marketing tactics for implementing
the selected marketing strategy.
• Identify two basic types of organizational structures for managing marketing activities.
• Explain how ethical issues in marketing relate to marketing decisions, and provide examples of ethical
issues facing healthcare providers.
Section 7.1What Is Marketing?
Introduction
This chapter provides an overview of marketing, the relationship between marketing plan-
ning and overall organizational planning, basic marketing strategies, and approaches to orga-
nizing marketing activities in an HCO. This chapter also includes a discussion of the ethical
decision-making process in marketing and lays the groundwork for later chapters on the mar-
keting process and its role in HCOs.
7.1 What Is Marketing?
The marketing of HCOs is a relatively recent phenomenon. It was as late as 1977 that the
American Hospital Association held its first convocation on marketing. Much of the early mar-
keting efforts by hospitals were aimed toward the recruitment and retention of physicians.
Many physicians remained skeptical of marketing to patients and believed it was unprofes-
sional. However, as healthcare has become more complex and expensive, HCOs and individual
healthcare providers have seen the need to better communicate to patients the value of their
services (MacStravic, 1994).
Over the last two decades, the discussion of marketing in HCOs has evolved from whether
it was even appropriate for HCOs to use marketing to give the organization a competitive
advantage and “tell its story.” But what is meant by the term marketing?
Various definitions of marketing have evolved over the years, but one that appears to be fairly
complete is as follows: Marketing directs those activities that involve the creation and distribu-
tion of products and services to identified market segments. Several key words in this defini-
tion need further explanation. First, what is meant by the words marketing directs. This is a
managerial perspective rather than a residual perspective, which is concerned only with
what has to be done to get goods and services to customers. A managerial pers.
7 Managing Marketing Activities
Thomas Northcut/Digital Vision/Thinkstock
Marketing is too important to be left to the marketing department.
—David Packard
Learning Objectives
After reading this chapter, you should be able to do the following:
• Define marketing and explain how the marketing concept is patient centered in HCOs.
• Discuss the relationship between organizational planning and marketing planning with regard to objectives
and strategies throughout the planning levels.
• Name the three basic marketing strategies that can be used under the product/market approach to market-
ing strategy development, identify two other approaches to marketing strategy development, and list four
factors influencing the strategy selection.
• Discuss how the four strategic elements of the marketing mix become marketing tactics for implementing
the selected marketing strategy.
• Identify two basic types of organizational structures for managing marketing activities.
• Explain how ethical issues in marketing relate to marketing decisions, and provide examples of ethical
issues facing healthcare providers.
Section 7.1What Is Marketing?
Introduction
This chapter provides an overview of marketing, the relationship between marketing plan-
ning and overall organizational planning, basic marketing strategies, and approaches to orga-
nizing marketing activities in an HCO. This chapter also includes a discussion of the ethical
decision-making process in marketing and lays the groundwork for later chapters on the mar-
keting process and its role in HCOs.
7.1 What Is Marketing?
The marketing of HCOs is a relatively recent phenomenon. It was as late as 1977 that the
American Hospital Association held its first convocation on marketing. Much of the early mar-
keting efforts by hospitals were aimed toward the recruitment and retention of physicians.
Many physicians remained skeptical of marketing to patients and believed it was unprofes-
sional. However, as healthcare has become more complex and expensive, HCOs and individual
healthcare providers have seen the need to better communicate to patients the value of their
services (MacStravic, 1994).
Over the last two decades, the discussion of marketing in HCOs has evolved from whether
it was even appropriate for HCOs to use marketing to give the organization a competitive
advantage and “tell its story.” But what is meant by the term marketing?
Various definitions of marketing have evolved over the years, but one that appears to be fairly
complete is as follows: Marketing directs those activities that involve the creation and distribu-
tion of products and services to identified market segments. Several key words in this defini-
tion need further explanation. First, what is meant by the words marketing directs. This is a
managerial perspective rather than a residual perspective, which is concerned only with
what has to be done to get goods and services to customers. A managerial pers.
7 Managing Marketing Activities
Thomas Northcut/Digital Vision/Thinkstock
Marketing is too important to be left to the marketing department.
—David Packard
Learning Objectives
After reading this chapter, you should be able to do the following:
• Define marketing and explain how the marketing concept is patient centered in HCOs.
• Discuss the relationship between organizational planning and marketing planning with regard to objectives
and strategies throughout the planning levels.
• Name the three basic marketing strategies that can be used under the product/market approach to market-
ing strategy development, identify two other approaches to marketing strategy development, and list four
factors influencing the strategy selection.
• Discuss how the four strategic elements of the marketing mix become marketing tactics for implementing
the selected marketing strategy.
• Identify two basic types of organizational structures for managing marketing activities.
• Explain how ethical issues in marketing relate to marketing decisions, and provide examples of ethical
issues facing healthcare providers.
Section 7.1What Is Marketing?
Introduction
This chapter provides an overview of marketing, the relationship between marketing plan-
ning and overall organizational planning, basic marketing strategies, and approaches to orga-
nizing marketing activities in an HCO. This chapter also includes a discussion of the ethical
decision-making process in marketing and lays the groundwork for later chapters on the mar-
keting process and its role in HCOs.
7.1 What Is Marketing?
The marketing of HCOs is a relatively recent phenomenon. It was as late as 1977 that the
American Hospital Association held its first convocation on marketing. Much of the early mar-
keting efforts by hospitals were aimed toward the recruitment and retention of physicians.
Many physicians remained skeptical of marketing to patients and believed it was unprofes-
sional. However, as healthcare has become more complex and expensive, HCOs and individual
healthcare providers have seen the need to better communicate to patients the value of their
services (MacStravic, 1994).
Over the last two decades, the discussion of marketing in HCOs has evolved from whether
it was even appropriate for HCOs to use marketing to give the organization a competitive
advantage and “tell its story.” But what is meant by the term marketing?
Various definitions of marketing have evolved over the years, but one that appears to be fairly
complete is as follows: Marketing directs those activities that involve the creation and distribu-
tion of products and services to identified market segments. Several key words in this defini-
tion need further explanation. First, what is meant by the words marketing directs. This is a
managerial perspective rather than a residual perspective, which is concerned only with
what has to be done to get goods and services to customers. A managerial pers.
In this white paper published by Sustainable Brands and co-authored by Mark Stapylton of BrandPanorama with Nancy Elder, JetBlue’s VP of Communications, we discuss the importance of sustainability branding in creating shared value, competitive advantage, and long-term profitability. Without measurement to quantify the return on investment in sustainability relevance and integration are inherently limited, but there are key ROI metrics every company or organization can adopt that will prove the value of sustainability to their brand and accelerate their progress.
The Scatol8® for Sustainability: an update on the remote sensing system of en...Scatol8
Summary
This paper describes the evolution of Scatol8®, a remote sensing system conceived and developed within the Department of Commodity Science (DCS) of the University of Torino.
The DCS developed, along the years, several projects related to Sustainable Management of economic organizations; the first part of the paper summarizes the key-elements of projects that enriched the knowledge base, providing hints that took to Scatol8®.
Scatol8®’s vision has been described in a previous paper. Its basic elements form the second part of the paper. The third part is devoted to describe several activities that have been undertaken, which display the potential of the Scatol8® ‘s system along directions not foreseen at the beginning; the description is splitted into Research projects and Education initiatives.
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Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Definition of Marketing in pursuit of Sustainability
1. Towards A New Definition Of Marketing To Adopt The Approaches
Of Sustainable Development
Maxwell Ranasinghe: M.A. (Interdisciplinary) York, BSc.(Business Admin) Sri Jayewardenepura, CPM(
Marketing) New Haven. – Senior Lecturer and Corporate Trainer.
Wikipedia provides a summary of marketing definitions. Philip Kotler defines marketing as ,
“Satisfying needs and wants through an exchange process”. The Chartered Institute of
Marketing defines marketing as, "the management process responsible for identifying,
anticipating and satisfying customer requirements profitably". A similar concept is the value-
based marketing, which states the role of marketing as that which contributes towards
increasing shareholder value. In this context, marketing can be defined as, "the management
process that seeks to maximise returns to shareholders, by developing relationships with valued
customers and creatinga competitiveadvantage".The American Marketing Association changed
their marketing definition in 2013 as, "the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large". (Wikipedia, 2019)
The AMA’s new definition is an extension from the original meaning which referred literally to
going to market with goods for sale. From a sales process engineering perspective, marketing is
"a set of processes that are interconnectedandinterdependent withother functionsof a business
aimed at achieving customer interest and satisfaction". New definition included value creation
not only for customers and shareholders, but for the partners too, and most importantly, for the
society at large. This “society at large” term could be enlarged and interpreted well into taking the
sustainability issue into the core marketing definition. There is a lot of scholarly work on the
definitions of marketing, but the author does not wish to go into an extensive analysis of the
literature. However, some background information as to the argument for a marketing definition,
that includes sustainability as a core element, has been made.
The market economy and nature’s economy are intertwined. Economic sustainability must be
based on ecological and social sustainability, as there is no economy unless there is a planet to live
on. The World Commission of Environment and Development (1987), advocates that the future of
the planet’s environment, communities and their cultures should not to be compromised by actions
in the present. This advocacy has now given direction for businesses, for over two decades, to
change the way that they operate their businesses. It is not just complying with a plethora of rules
and regulations as to the protection of environment, it challenges the business community to come
up with innovations and commit towards addressing the imperative environment of the planet we
live on. As such, American Marketing Association (2007) has called for businesses to recognise a
responsibility to the society at large, not just to individual consumers or to its shareholders.
However, businesses currently have little guidance as to how they might drive a sustainable
development agenda or a commitment, to change their core business activities, to suit the need of
the day. So far, the sustainability issue is not being dealt as a core marketing issue, but as a detached
issue of marketing. It is not embedded in the core activities of marketing. As Crittenden, Ferrel
2. and Pinney (2011) highlight, “there is littlemainstream marketing management theory, research
and practice,that equips companies to deal withthe21st century operatingenvironment inwhich
sustainability is the consumption norm and not the exception”. Phillip Kotler (2011),observed,
that marketing will have to reinvent its practices to be environmentally responsible. However, the
tactical tool used for achieving market goals is still the marketing mix, which focuses on individual
customer rather than the benefits to the society at large, and does not provide guidance on operating
more sustainably. Therefore, business managers need a Sustainability Marketing Model that
provides directions to consider sustainability implications in decision making. This should enable
the business managers to consider sustainability issues from corporate level strategic planning to
operational level activities, such as product, pricing, distribution and promotion. Performance
evaluation of companies should not be based only on profits that they make, but also on the
improved sustainability performance, that includes planet and people in to the formulae.
As cited by Pomering (2014) Bridges and Wilhelm (2018), highlighted that, “marketingeducation
for sustainability requires a consideration of environmental and social issues in all elements of
marketing strategy planning, from objective setting to target market selection, to strategic and
tactical decisions regarding each of the marketing mix variables”. In other words, they argue
that a holistic approach towards marketing should be embedded with sustainability.
Pomering (2014) argues, that the conventional marketing mix (four Ps), broadly details the
activities the marketing manager needs to consider to achieve the organisation’s desired market
offering: product, price, promotion and place. He further observes that although the four Ps are
important decision areas, they alone do not permit a firm to adequately address sustainability
challenges. If the products are not produced within the carrying capacities of the natural
resources, the production process will not last long too. Further, society needs to use the products
in an environmentally sustainable way so that all the other beings also will not be harmed. For
example, the throwing of the polythene bags, which go to the sea, and whales that are eating the
jelly fish, think that the bags are jelly fish, consume them and die.
Pomering (2014) argues that these challenges can be addressed through adding four more
elements: processors, physical evidence, partnerships and participants. Although processors
and physical evidence are features in the existing services marketing mix, Pomering’s version adds
a sustainability filter to these elements that broadens the scope.
Zeithaml et al, 2007 describes Processors as actual procedures, mechanisms and activities which
the service is delivered. Pomering (2014) argues that a sustainable filter to these activities is needed
to be attached to improve efficiency and prevent damage that may occur through the processors.
Tangibility clues, that assists consumers in the evaluation of products, are referred to as Physical
Evidence. However, sustainability filter needs to be attached to services cape, including design of
building and furnishing etc., through use of low carbon modes, such as energy efficient buildings,
solar energy etc. He refers to Partnerships as the cooperative efforts of sustainability outcome-
enabling individuals and organisations, in the realisation, that one organisation cannot stand alone
in the struggle to achieve sustainability. Customers and other stakeholders, even the competitors,
are captured under partnerships. Describing the Participants element, Pomering (2014) highlight
the role of human resource management and customer management. He argues that employees
3. should be committed to sustainability ethos and committed to continuous sustainability
performance. In the same manner, he suggests that customers are not merely targeted to consume
the products, but also to be included in the co-production of sustainability process: for example,
product use, servicing and disposal, recycling and future product purchase.
In light of the above and other published literature on this important definition issue, the author
suggests a definition as follows.
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.”
In justification of the above definition, the following is also cited.
1. Marketing is not just a function of management. Long ago, it was identified as a
business philosophy.
2. The main focus of marketing is the customer. Refer to the earlier definitions of
marketing, like Adams Smith’s, which we have now dropped even from our study text.
• (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”.
It talks about the core, “the consumer” and " the activity the marketers should do” very
well. We need to revisit it and expand it. That’s why we need to include “Proficiently
understanding the role played by human as a customer”. Customer includes an
individual, as well as a group of people. The planet that we live on could be added to the
word customer in the present context, as it is a major stakeholder. In order to understand
the role of a customer proficiently, it is necessary to adopt a skillful and scientific
methodology. This would greatly reduce the occurrence of wrong decisions and wastage
of resources.
3. Marketing is not just an activity or societal process. It cannot be restricted to creation,
promotion, distribution and pricing of goods and services. In the author’s opinion, these
words should not be in a meaningful definition, as they restrict the horizons of marketing. It
is a managed process which includes planning, organizing and implementing. It uses many
management tools to achieve goals. Further, it focuses on developing a sustainable
relationship with partners and participants. Therefore, the inclusion of “managed
process” is very appropriate in author’s point of view. Further, the managed process was
expanded to “managed business process” as all the organizations ,even the “nonprofit
organizations”, would prefer a margin over the cost of their operations. It could be
monetary or otherwise. Therefore, “managed business process” is included.
4. Marketers (business organizations) have not taken much care of the needs of the society
at large. As a result, they are largely responsible for the degradation of the environment
and the use of unethical practices, considering the world as a bundle of resources available
to satisfy the needs of the current human generation, without considering the needs of
4. the other living plants, animals, and the needs of the future generation. This would even go
in line with Buddhist philosophy that sheds light on to a new paradigm in marketing.
Already well accepted, the societal marketing concept should be expanded and included in
the mainstream marketing definition. Therefore, the “sustainable business practices that
creates a better world” is included. 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 the world’s sustainability:
Optimize the performance of their business,
Create strong relationships with their customers, other businesses, staff and the community,
Balance their budget and ensure their financial sustainability,
Help the business community to prosper,
Reduce their carbon footprint.
The world and the business environment is continuously changing and it poses issues that we have
not faced in the past. In order to adopt to the changing environment, we have to reshape or reinvent
business approaches without delay for our own survival. Devising a new definition for marketing
is imperative to changing the “business as usual” attitude, which adversely affects humanity.
References
Crittenden V.L, Ferrel L.K, Pinney, C.C. (2011) “Market- oriented sustainability: A conceptual
framework and propositions” Journal of the Academy of Marketing Science, vol 39e, pp. 71-85
CIM "Marketing library resources – content, knowledge databases".
Kotler, Philip (1980). Principles of Marketing. Englewood Cliffs, NJ: Prentice-Hall Inc.
Kotler, P. (2011) “Reinventing Marketing to Manage the Environment Imperative, Journal of
Marketing, vol 75(4) pp. 132-135
Pomering, A. (2014) Strategic marketing Sustainability: from a marketing mix to marketing
matrix. In H. Hassan (Ed.) Being Practical with Theory: A window into Business Research (pp 80-
86) Wollongong, Australia
Smith, A. (1776) Wealth of Nations, Strahan and Cadel, London
Wikipedia (2019) Available at: https://en.wikipedia.org/wiki/Marketing [accessed 22 Aug 2019]
Zeithaml, V., Bitner, M.J., Gremler, D.D. (2006) Service Marketing integrating customer focus
across the firm, McGraw-Hill, New York