Why is Societal Marketing concept important for many companies today to consider this concept for long-term survival?
Societal Marketing has gained immense importance during the past years. It is basically the marketing decisions of a company that not only consider the consumer’s wants, the company’s own requirements but also give importance to society’s long term interests. It is based on the concept of social responsibility. It has become important because of changing consumer trends. People are now more concerned about the overall doings of a company. E.g People are really concerned about the use of child labor by companies such as Nike and it actually influenced the sales of its products. That is why, Nike is now trying to focus on the fact that it is not using child labor for its products and it is doing a lot for third world communities where its shoes are being manufactured.
