The Societal Marketing Concept
For every brand to survive in this cut-throat market, Customer Satisfaction and Human Welfare are two important aspects. The Societal Marketing Concept makes sure that these are always on top before picturising profits.
According to the concept, it is on the marketer on how to ensure the implementation of better strategies in the marketing world. To do so, they consider the welfare of the society, the requirement of the customer, and so on.
Some of the major highlights of the Societal Marketing Concept includes: –
- Spot the right market
- Earn profit by achieving the target.
- Understanding the needs of customers.
- Mapping customers’ requirements with the kind of product they need.
Digging into the ‘Significance’ of Societal Marketing Concept
Well, we all know the market and business go hand-in-hand. If it’s a business, the ultimate target is to produce the right product so it is sold in the market to make a profit and end up with customer satisfaction.
Businesses and companies need to look forward to adapting societal concepts/strategies over business strategies.
Societal Marketing Concept – Objectives
Societal Marketing Concept follows a general list of objectives which are as follows: –
- To inculcate care in people about the environment; people must learn to diverge to change their attitude and beliefs.
- The campaign messages that the concept puts forward need to be effective enough for people to be responsible for their environment.
- The societal marketing campaign is directly proportional to the customer base and marketing share.
- For people to change their behaviour, companies must adjust to marketing strategies.
Advantages of Societal Marketing
Here comes the list of advantages of Societal Marketing: –
- Economic resources should be channelized in the right manner so that the societal marketing systems can use them as and when required. This will also help in raising the standard of living.
- An increase in sales would ultimately lead to more opportunities and hence, growth and expansion.
- The sale of products and services would increase dynamically if customers are loyal to a specific brand.
- To compete with competitors, an eco-friendly approach would be the best edge to target. This also drastically hypes up customer retention ratio.
- Societal Marketing Concept also displays a message on how much they care about the environment.
Disadvantages of Societal Marketing
Well, there are always two sides to a story. With every good, comes bad, here are a few disadvantages of Societal Marketing.
- Manufacture of products like tobacco and selling them out to fulfil the needs of the customer. Ultimately, people are getting their hands on what they want even though these are not good for them.
- Wine, Whiskey, Cigarettes, etc are sure threats to our health. However, they have ‘Cigarettes are injurious to our health’ on their packet. Smoking leads to cancer but people buy it anyway.
Three Pillars of Societal Concept
Companies must be able to balance the three considerations which are ‘Company Profits’, ‘Society’s Interests’, and ‘Customer Wants’
❖ Company Profit – To maximize profit, some of the things to keep in mind would include: –
o Building relationships for long-term
o Socially responsible
o Providing customer with satisfactory products
❖ Society’s Interest – Companies have to take care of the fact that every product, action, service serve society first before anyone else.
❖ Customers Want – The needs of the customer should be considered as a priority and hence the products and services have to be reliable enough.
Examples of Societal Marketing
Societal Marketing is a way to increase sales and portray a larger image of them as a company. Some great examples include: –
- Coca-Cola: Coca-Cola is one of the top soft drinks company. Furthermore, it also published the ‘America is Beautiful’ song in different languages which gives rise to cultural harmony at a greater level.
- Adidas: Undoubtedly, Adidas is the best brand to speak of. Considering the environment big time, Adidas ensures to manufacture products which can easily be recycled and reused.
- The Body Shop: The Body Shop, one of the famous skincare brands. It uses ingredients out of plants to make its products. They never test their products on animals. Therefore, without a speck of doubt, a fantastic example of Societal Marketing,
It is easy for a company to say that societal marketing is an option to inculcate. However, in the present time, many companies have considered societal marketing.
Hopefully, let’s look at a future where Societal Marketing becomes an adaption for most companies.