Marketing 101

Jun 21st, 2015
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MARKETINGINTRODUCTION:In recent years, attention to social and environmental issues in product marketing has become amainstream practice and offers opportunities for firms to differentiate themselves in the market. Popularexamples abound: organic produce, hybrid cars, and fair trade coffee, to name just a few. While business coursework is quickly following practice in the field, our data show that a critical examination of the social impact of marketing is limited in some instances to issues of legality and ethics. When ethical concerns are raised, they are commonly discussed in the context of avoiding harmful marketing practices, especially prohibitive product pricing and deceptive advertising. On the other hand, international marketing classes do a good job of discussing socio-cultural considerations in the analysis of new target markets. It is noteworthy that a handful of MBA programs offer courses specifically addressing "social marketing"; that is, using concepts from commercial marketing, such as the traditional "four P's" marketing mix (i.e., Product, Place, Promotion, and Pricing), to bring about social change. Also, academic research has highlighted the use of, and further potential for, social marketing for environmental causes.1 A few of these forward-looking strategic marketing courses are highlighted in the "notable coursework" section below.Marketing is the process by which companies create customer interest in goods or services. It generates the strategy t

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