Responsible Marketing can be referred to good marketing which communicates messages that are right for the business, right for the customers and/or prospective customers, and right for the business community in which the business is a corporate citizen. It is committed to obey all local laws and conducts business in a responsible manner. Objectively, responsible marketing maximizes benefits from the resources available and expands marketing operations in order to increase wealth.

Responsible Marketing can be referred to good marketing which communicates messages that are right for the business, right for the customers and/or prospective customers, and right for the business community in which the business is a corporate citizen. It is committed to obey all local laws and conducts business in a responsible manner. Objectively, responsible marketing maximizes benefits from the resources available and expands marketing operations in order to increase wealth.

Significantly, responsible marketing plays a vital role in the economic growth and overall development in the present global world. It ensures the planned economic growth in developing economies where there are scarcity of goods, services, ideas and excessive unemployment, thereby marketing efforts are needed for mobilization of economic resources for additional production of ideas, goods and services resulting in greater employment.

The major roles of responsible marketing in the national economy can be thought of in terms of:

  • Specialization in activities of comparative advantage
  • Enhance resource-use, efficiency and trade
  • Advances in marketing with economic growth
  • Discovery of entrepreneurial talents

Now a days, economic and social changes are necessary for bringing about the development of a nation; Where by, social changes are brought about in a planned manner through socially responsible marketing technologies.

With the rapidly growing marketing business, technology is playing a more important role in the demands of analyzing and utilizing the large scale information gathered from customers. To predict the consequent business strategies by using technology, it is required to evaluate the customer performance, discover the trends or patterns in customer behavior. For this   purpose, modern world uses the technology at a maximum level by e-commerce, internet marketing and services etc.

The end result will be the maximization of growth through responsible marketing in order to provide sustainable development and the development of economic levels that foster entrepreneurialism.

In this century, sustainable development remains a term which many marketers have become accustomed to hearing alongside jargon such as Corporate Social Responsibility (CSR).

The prevailing relationship between marketing and corporate social responsibility (CSR) is significant. Because, it is the continuing commitment by business to behave ethically and contribute to economic development, and it may also tend to improve the quality of life as well as of the local community and society at large. Simply, CSR-focused businesses would proactively promote the public interest by encouraging community growth and development, and voluntarily eliminating practices that harm the public sphere, regardless of legality.

 

A significant role has to play by the corporate social responsibility (CSR) in controlling the perils of uncontrolled development, satisfying the needs of the present generation and at the same time ensuring that the resources of future generations is not jeopardized. Although, the ‘beyond charity and legal obligations’ agenda of sustainability may be challenging, it is meaningful to integrate social, environmental and ethical concerns into business processes.

Thus, corporate social responsibility (CSR) or ‘Sustainability’ is not just obeying the law. It is not philanthropy. It is much beyond that. It implies serious businesses where organizations have to be seen as partners in their communities and not just as profit centers promoting the interest of their shareholders but as businesses having obligations towards various ‘stakeholders’.

There are certain drivers that push businesses towards CSR. Those will be:

  • Shrinking role of government
  •  Demands for greater disclosure
  •   Increased customer interest
  •  Growing investor pressure
  •  Competitive labor markets
  •  Supplier relations

Finally, the ultimate result should be sustainable development. It comprises a set of compelling ideas, principles, values, mindsets and practices that enable individuals and organizations to improve their quality of life in ways that simultaneously protect and enhance the earth’s life-support systems, in other words, without destroying the planet. The objective is concerned with how business can contribute to some of the most significant challenges that the world faces today. But marketers have struggled to translate these ideas into viable commercial propositions, into marketing strategies that create competitive advantage, build trust or develop new business opportunities.

Successful business is part of the sustainable development. It is best achieved through open, transparent and competitive global markets. There is no future for successful business if the societies that surround it are not working. So, it is important to create partnerships between governments and businesses to deliver essential societal services and infrastructures. Most probably, supportive frameworks and regulations are needed for businesses to contribute fully to sustainable development.

It is important to distinguish, that poverty creates political and economic instability. It is a big threat to business and sustainable development. By contrast, businesses are able to up lift living standards and eradicate poverty.

There are three critical challenges facing marketers today, which make probable impacts over sustainable development. Those are:

  • Creating competitive advantage through brand innovation
  •  Building trust with customers, consumers and society
  •  Developing market opportunities

Challenges for sustainable development are huge and require contributions from all parties, governments, businesses, civil societies and international bodies. Confrontation puts the solutions at risk. Cooperation and creative partnerships exactly foster sustainable development.

Moreover, marketers have often faced criticism for being part of the problem for pushing the consumption of unsustainable products and lifestyles.

Rather than claim easy routes for marketers to benefit from the challenges of sustainable development, it asks them to test the role and relevance of sustainable development to their everyday work.

This way business acts and is perceived as crucial to its success. Accountability, ethics, transparency, social and environmental responsibility and trust are basic prerequisites for successful business and sustainable development.

Innovation and technology development are crucial to sustainable development. They provide key solutions to many of the problems that threaten sustainable development. Business has always been, and will continue to be, the main contributor to technological development.

Eco-efficiency – doing more with less – is at the core of the business case for sustainable development. Combining environmental and economic operational excellence to deliver goods and services with lower external impacts and higher quality-of-life benefits is a key sustainable development strategy for businesses.

Businesses cannot function if ecosystems and the services they deliver are degraded. Therefore ecosystems in balance will be a prerequisite for successful businesses.

Private enterprises can contribute directly to the goals towards sustainable development through core pursuits such as increasing productivity and job creation or seeking opportunities for service delivery through public-private partnerships. These partnerships can combine the respective strengths of the private and public sectors. The private sector can leverage its advantages of greater efficiency, lower costs of distribution, and more complex delivery systems to reach new markets. The public sector can ensure universal access by providing financial support to subsidize impoverished households, thereby enabling private firms to enter large markets with guaranteed consumers. Public funding for the private provision of essential goods and services needs to cover both capital and recurrent costs to “close the revenue cycle.” This is necessary to ensure that subsidized infrastructure investments do not naively project that outlays will cover the long-term operating expenses, in many extremely poor communities and countries.

Companies can take prompt actions to support by advocating publicly for the goals, and by pursuing various models of responsible marketing. In these ways, businesses can engage as reliable and consistent partners in the sustainable development process.[/premium_content]

Tags:
About Author: admin