The Societal Marketing Concept puts Human welfare on top before profits and satisfying the wants.
Societal Marketing emphasizes on social responsibilities and suggests that to sustain long-term success, the company should develop a marketing strategy to provide value to the customers to maintain and improve both the customers and society’s well being better than the competitors.
What is Societal Marketing?
The societal marketing concept holds that a company should make good marketing decisions by considering consumer’s wants, the company’s requirements, and society’s long-term interests.
Societal Marketing creates a favorable image for the company increases sales. It is not the same as the terms of social marketing and social media marketing. It is a term closely related to CSR and sustainable development.
It emphasizes social responsibilities and suggests that to sustain.
It calls for sustainable marketing, socially, and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
The global warming panic button is pushed, and a revelation is required in the way we use our resources. So companies are slowly either fully or partially trying to implement the societal marketing concept.
History of Societal Marketing Concept
In the 1960s and 70’s the unethical practices of many companies became public. The concept of Social Marketing surfaced in 1972, a more socially responsible, moral, and ethical model of marketing, countering consumerism. Philip Kotler introduced the concept of social marketing and societal marketing.
The societal marketing concept evolved from older concepts of CSR and sustainable development and implemented by several companies to improve their public image through activities of the customer and social welfare.
Three Considerations of Societal Marketing Concept
Companies should balance three considerations in setting their marketing strategies: company profits, the consumer wants, and society’s interests.
- Society (Human Welfare)
Companies must make sure the products, services, actions, investment innovations servers 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 Concept Video and Slideshow
Watch this video explaining marketing concepts and societal marketing concept.
Objectives of Societal Marketing Concept
- To maintain a long-term relationship with customers.
- To create a better image in the society for the company than it’s competitors.
- To carry out its social responsibilities.
- Developing community awareness towards its brands.
- To carry out its social responsibilities.
- To increase the consumer base and market share.
Societal Marketing Concept Advantages and Benefits
- It helps to build a better image for the company.
- It gives a competitive advantage over the competitors.
- Useful in customer retention and long-term relationships.
- Increases sales and market share.
- Facilitate expansion and growth in the long term.
- Products and company policies should prioritize social welfare and society in general.
- Economic resources are properly used.
- Societal marketing raises the living standard of people in society.
- It ensures economic planning more significant and more fruitful to society.
Importance of Societal Marketing Concept
Societal Marketing is very important to society, the environment, and businesses. This concept was developed to tackle the consumerism and profit only the motive of business.
The societal marketing concept helps to maximize profits for the organization and creates a long-term relationship with customers.
It encourages developing products that benefit society in the long run and satisfies consumers.
Examples of Societal Marketing
Most recent examples of societal marketing are the super bowl 2017 ads of several companies.
Most ads took on issues like the environment and immigration. These come after President Donald Trump implemented executive orders that raised controversies.
- Kia’s “Hero’s Journey” commercial starring Melissa Mccarthy is the prime example of societal marketing.
- CocaCola release an ad that shows people of different ethnicity and singing “America is Beautiful” in different languages.
- Airbnb’s #WeAccept super bowl 2017 ad.
- Budweiser ad showing how a company founded by its immigrant founder.
The societal marketing does not stop there.
Societal marketing policies are what making companies actively trying to change social policy, taking part in social activities, investing time and money in corporate social responsibility.
Societal marketing concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and long-run consumer welfare.
The societal marketing concept holds “marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and society’s well-being.”
Instruments of Societal Marketing
Philip Kotler identified four categories of products based on long-term benefits and immediate satisfaction:
- Deficient products bring neither long-run nor short-term benefits.
- Pleasing products bring a high level of immediate satisfaction but cause long-term harm long in society.
- Salutary products bring low short-term satisfaction, Nut Benefit society in the long run.
- Desirable products bring both long-run benefits and immediate satisfaction.
Based on societal marketing, Kotler suggested deficient products must be eliminated from the market.
The pleasing and salutary products need modification so that they can bring both long-run benefits to society and immediate satisfaction to the consumer.
Meaning that these products should be launched on the market without turning them into desirable products.
This way, rather than focusing on selling products, the focus is on consumer and societal well-being.