The societal marketing concept in a way integrates the idea of capitalism and social morality. It states that companies should, in their marketing decisions, incorporate considerations for the target market's wants, the company's needs (which the two combines to describe the typical capitalist business model), AND the society's long term benefits.
In a way, it describes how the companies, while striving to meet the demands of the market and do so better than their competitiors, they must approach it in a way that improves or preserves the society's well-being.
In order for this to happen, of course, the companies should observe the principles put forth by marketing ethics, which is thoroughly described by BBB. They can range from transparency and honesty to refraining from ethically questionable business activities such as bribes and frauds. In order to adhere to the social marketing concept, these must be integrated into the companies' philosophy and operations.
Feb 12th, 2015
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