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Definition

Societal Marketing Concept

Societal Marketing Concept is the idea that a company’s marketing decisions should consider consumers' wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.

It questions whether the pure marketing concept overlooks possible conflicts between consumers’ short-run wants and their long-run welfare. The social marketing concept holds that marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and society’s wellbeing.

A business must analyze 3 factors when developing marketing strategies:

  1. Profitability of the company
  2. Consumers demand
  3. Societal interests

The dispute between consumers' short-term interests and society's long-term wellbeing gave birth to the concept of societal marketing.

Purpose of the Societal Marketing Concepts

Below listed purposes behind the societal marketing concepts are eminent -

  • To maintain long-term customer relationships
  • To create a more positive image of the company in society than its rivals
  • To meet its responsibility to society
  • Increasing public awareness of its brands
  • To expand the customer base and gain more market share

 The terms - social marketing and social media marketing are not interchangeable. This concept has a lot to do with long-term (sustainable) development and corporate social responsibility (CSR).

 

Use of the Term in Sentences

  • Societal marketing concepts can help businesses expand their market share.
  • With the support of the societal marketing concept, economic planning becomes more meaningful and fruitful to society.

 

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