What is the Societal Marketing Concept?

Societal marketing has become a crucial marketing approach because of the increasing desire to build brand image through a sustainable corporate social responsibility. According to Hammoud, Abd-Elwahab, & Essawy (2018), societal marketing requires a company to balance its business interests, customers’ wants, and long-term societal welfare. It addresses critical problems such as poverty, environmental degradation, overpopulation, and other issues. Small businesses should take full advantage of societal marketing by promoting human welfare and customer satisfaction while maximizing profits.

A small business can promote human welfare by ensuring its services, products, production activities, innovations, and investments are meant to improve society’s welfare. Supporting the community by feeding the needy, making donations to children’s homes, empowering marginalized populations, and conserving the environment boosts society’s general welfare. It builds a competitive advantage by building brand awareness and creating a better brand image than the competitors’ (Singhal, Rajput, & Jha, 2017). Thus, societal marketing merges ecological and humanistic marketing, which creates brand awareness that evokes brand feelings. 

Moreover, understanding customers’ needs properly enables a business to provide goods and services that can satisfy them adequately. Societal marketing can be maximized by respecting consumer rights and providing safe, high-quality, and healthy products to enhance brand credibility and trust (Hammoud, Abd-Elwahab, & Essawy, 2018). Focusing on customer satisfaction is an excellent societal marketing strategy to boost customer satisfaction, loyalty, and retention, leading to higher purchases in the future.

Furthermore, shifting focus from transactions to long-term corporate relationships with customers leads to sustainable profit maximization because it creates value for both the company and its customers (Singhal, Rajput, & Jha, 2017). Societal marketing increases market share and customer base, leading to an increase in sales volume and revenue. Thus, building customer relationships rather than just focusing on sales can facilitate sustainable profit-making due to increased brand loyalty and customer satisfaction.

In conclusion, a business should utilize societal marketing appropriately by satisfying customers’ needs and maintaining long-term welfare for the society without compromising the interests of the company. Proper exploitation of societal marketing by perfectly balancing business interests, consumer needs, and society‚Äôs interests elevates the brand image and competitive advantage. As such, making the best use of societal marketing enables small businesses to create a sustainable society, serve their customers better than their competitors, and maximize profits.

References

Hammoud, G., Abd-Elwahab, S., & Essawy, T. (2018). The Application of Societal Marketing in

Egyptian Travel Agencies. International Journal of Heritage, Tourism and Hospitality12(3 (Special Issue)), 195-213.

Singhal, M., Rajput, S., & Jha, M. (2017). Building Brand Image through Corporate Societal

Marketing. BULMIM Journal of Management and Research2(2), 65-71.