Principles of Marketing

Mar 30th, 2015
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The notes include CSR and Marketing, Viewpoints of CSR, The Intersection, and Philanthropy

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Principles of Marketing CSR and MarketingAccording to the author Meeting changing expectations, "Corporate Social Responsibility is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large." Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others. Responsible marketers discover what consumers want and respond with market offerings that create value for buyers in order to capture value in return. (Kotler & Armstrong, 1999). While they are alike and related in some ways, marketing and corporate social responsibility differ in other critical ways.Viewpoints of CSRCSR as a social obligation. This first perspective was launched by Bowen (1953), who defined CSR as the obligation "to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of our society." As emphasized by Carroll (1979), different types of social obligations can be distinguished: (a) economic obligations (be productive and economically viable), (b) legal and ethical obligations (follow the law and acknowledged values and norms), and (c) philanthropic obligations (proactively give back to society).CSR as stakeholder obligation. Starting in the mid- 1990s, a number of

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