Introduction
The concept of sustainable development was first introduced by IUCN world conservation strategy in 1980. Sustainable development is a technique of economic growth under which resources are used to meet not only the demand of present generation but also for generations to come.
Marketing act as a business philosophy, and a collection of management techniques, orientated towards providing value to consumers, organisations and society.
Sustainability in marketing
Sustainable marketing is the process in which products are produced that is environmental friendly at the retail level and also helps the company to maintain sustainable practices at the social relations level. The concept of sustainable marketing is a broader management concept which focuses on achieving the ‘triple bottom line’ through creating, producing and delivering sustainable solutions with higher net sustainable value whilst continuously satisfying customers and other stakeholders.
P’s of Marketing Mix
Marketing mix has been engaging the minds of practitioners and academicians alike for very long periods. The 4Ps as the mix was known has been the bulk of marketing literature for a very long period. They still occupy a major portion of any basic understanding of the subject with several modification and extensions. The 4 Ps are: The product, its price, place and promotion.
Following figure shows the 4 Ps of marketing mix
Four A’s of Sustainable Consumer Behaviour
The study of marketing shows the importance of consumer behaviour and the factors which affects the decision of a consumer. It is very necessary to understand the behaviour of consumer to evaluate the key points which are very useful for sustainable marke...
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...econdly, explain them by adopting desired behaviour will help in solving the issue. Lastly, explain them what is required and what is to be done.
In the end, from the above discussion we conclude that in the competitive business environment, it is social responsibility of the multinational companies which operate on large scale, should consider the environmental impact of their business and it should be sustainable so that the resources can be used efficiently at present and can be retain for next generation. Developing good sustainable marketing strategies will help the company to find threats, risks and opportunities. Although sustainable marketing strategies has adopted by many large firms but still there is need to improve. There is need to understand and aware the consumer. There is need to change our consumption behaviour today so that we can save our future.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
The Marketing mix or also called 4P’s is useful tool and a basic element of the marketing departments that allows to define the marketing strategy of a company or a brand from four different points: product, place, price and promotion. It is essential that there is a hundred per cent coherence and consistency between these variable so that they can complement each other and get better results. Next,
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand of products in the market. Price, Product, Promotion and Place, are known as the 4Ps that make up a typical marketing mix. As marketing evolves, there are additional Ps that can also be included in the marketing mix, however, focusing on the 4 core Ps of the marketing mix, price, place, promotion and Product, taking an in-depth look at the aspects of Victoria’s Secret in general and in terms of the selected product. All the elements of the marketing mix influence each other. They contribute to the business plan for a company and if managed correctly, can give it a great success. In order to successfully master marketing mix, it needs understanding,
It basically constitutes 4P’s of marketing mix such as price, place, product and promotion. All these 4P’s have similar repercussion for the promotion of products in various organizations. These justifiable elements of marketing mix can be utilized by a business organization to increase its marketing efficiency. With the marketing mix, a company can have access to marketing information so as to determine the outcomes of the marketing activities on its total sales. The company can evaluate the extent of efficiency of its marketing activities using the information gathered from the marketing mix.
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
On Figure 1 below we can see its presence, as a one of the four pieces (4Ps) of Marketing Mix Model and even often are considered as synonymous. If companies aim to achieve their targets, then all the four elements (product, price, place and promotion) should be planned carefully in advance and in line with overall marketing strategy (Kotler et all,
While a number of organizations have not adopted a sustainable operations management strategy, large retail firms like Morrison, Wal-Mart, Marks and Spencer, and Sainsbury’s have adopted this concept into their management strategies in order to reflect customer concerns and thus sustain the competitive advantage. Many larger firms are willing to promote sustainable operations in their markets because this strategy arguably attracts and retains customers.
Marketing is defined as follows: Marketing is the process of interesting potential customers and clients in your products or services. In this essay, I am going to address the concept of “social marketing” and how does social marketing differ from “societal marketing” or “socially responsible marketing” in the first part, and in the second part, I am going to provide examples of each of the three approaches to marketing and analyse how these represent a departure from traditional marketing practice.
The factors that have a great influence on marketing management, marketers’ business decision-making, and their relationship with customers include macro- and micro-environment, and the latter in turn includes the concept of so-called “4 P’s” (i.e., product, place, promotion, and price). Micro-environment is also referred to as “immediate environment” and stands for the factors that are literally “close” to a certain company: its suppliers, customers, intermediaries (e.g., advertising agencies), and competitors (“Marketing environment,” n.d.) Four P’s are also called “the marketing mix,” and their most widely used interpretation belongs to McCarthy (Blythe, 2008). The marketing mix indicates the four aspects of how to make your business profitable and yourself proficient as a marketing specialist. As Cannon (1992) pointed out, “The marketing mix is the set of controllable variables that the firm can use to influence the buyer’s response.” First, the business person needs to understand what the product of consumer’s desire is. It is obvious that “an undesired product” will not be sold. Producers, however, may invent something that consumers even did not expect to have but really wanted, at least, unconscious...
“Sustainable Development: At its heart, sustainable development is the simple idea of ensuring a good quality of life for everyone, now and for generations to come. It is about living within the carrying capacity of the environment so that how we live, work and enjoy leisure activities, which do not harm or put undue pressures on the environment. It is about ensuring everyone has the opportunity to have a decent education, a quality environment that they take pride in, good health and a decent job (n.p, 2014)”
Sustainability simply defined to me as balancing act between the development of sustainability is necessary for both planet Earth and humans to survive. This is reinforced in the World Commission on Environment and Development report (1987) that sustainable development must meet the needs of the present without compromising the well-being of future generations”. The Earth Charter Organization widened the idea of sustainability to respect for a culture of peace, universal human rights, nature, and economic justice (What is sustainability?, n.d.).
Sustainable development refers to not only meet the needs of contemporary people, but also not compromising the ability of future generations to meet development needs.Sustainable development and environmental protection have established contact, not the same. Environmental protection is an important aspect of sustainable development. The core of sustainable development is development, but requires strict control of the population, improve population quality and protect the environment for the conduct of economic and social development under the premise of sustainable use of resources.
In class we discussed what sustainable development meant to us; each group had its own definition. Our group’s definition was that sustainable development is for the long term for future generations, for the basic needs such as food, clothing, shelter, and job. The basic will increase over time and our resources will diminish, which why sustainable development is important. Sustainable development is important for future generations so that they end up with a world better than ours. Sustainable development is achievable if society works together to meet everyone’s basic needs and create a better world.
It is natural to be misled by the idea that economic growth is the key