SOCIAL RESPONSIBLE MARKETING Social Responsible Marketing

[Name of the Institute]Abstract

Social Responsible marketing can be identified as a significant contemporary issue in the global business sector, considering the diverse dynamics present in the relevant consumer market. In the traditional perspective the majority of the organizations in the global business sector had a very limited and restricted ideology, where their actions were predominantly based on the bottom line profit maximization philosophy. However in the recent global business environment the trends have changed drastically as the organizations now have to deal with empowered and more informed consumers. In this environment the organizations have to develop a strategic and socially responsible outlook, which has to be reflected in the subsequent marketing initiatives. This paper will seek to identify and critically analyze the past and the current trends in the field of social responsible marketing endeavors taken by the contemporary global business entities. This study will be able to highlight the relevance of social responsible marketing activities and how they impact changes on the organizational infrastructure. The paper will also seek to identify the relevant factors in the global business sector which led to the development of this phenomenon and how important it is for the recent business sector to adequately incorporate socially responsible marketing ideologies within the organizational setup. Social Responsible Marketing

Introduction

Social Responsible Marketing: Trend Analysis

In the contemporary global business environment the issues relating to the relevant social responsible marketing phenomenon can be correctly defined as a fairly recent development. This concept was bolstered by the impacts of the process of globalization, which drastically changed several important dynamics of the marketing activities implemented by the global business sector. The process of globalization initially provided the global consumer base with essentially limit less possibilities, as now the consumers from any country could easily purchase products from multiple companies on a worldwide scale. This allowed the customer s to make highly selective and individualized in their purchasing behavior and they started to get attracted to brands which matched their individual philosophies and lifestyles (Laczniak & Murphy, 2006, pp. 163). It is due to this reason that the global business sector realized that in order to remain competitive and attain significant amount of the global consumer base, they have to react to the changes that the global consumer market values.

Current Trends

In this perspective the socially responsible marketing initiatives is a very significant factor for the global consumer base, as they are attracted to the companies which have a very responsible and positive outlook towards the various stakeholders in the overall society. It is due to this reason that the majority of the organizations in the global business sector have allocated a significant amount of their organizational resources towards introducing positive and environment friendly culture, and enhancing their stakeholder outlook. These organizations have realized that in the long term perspective they can no longer afford to maintain a highly selective and limited ideology based on solely monetary gains; rather they have to cater to the recent trends in ...