It includes marketing aims for long term growth of an organization through sustainable practices.
It takes care of fundamental issues such as environment, social and economical.
It involves optimization of both material and financial resources thereby curtailing the wastage generated in the marketing process (Turker, 2018).
It not only improves better allocation of resources but also increases the profit earnings.
Socially responsible marketing
It involves the marketing process which undertakes its activities in the best interests of the society as a whole.
It is also referred as ethical corporate marketing and sometimes green marketing.
It aims to understand the impact that a product or service offered has on the society and environment.
This is a part of corporate social responsibility.
It aims at educating the customers correctly about the characteristics of the product thereby building valuable relationship with its customers.
Ethics in SRM
Honesty- it must be the foremost principle of ethical marketing in SRM
Transparency-The procedure of marketing should be transparent and intend to portray the right message.
Accountability-The professionals should be accountable while conducting marketing.
Responsibility – The professionals involved should be equally responsible
Fairness- The marketing should be fair without any biases (Pigors & Rockenbach, 2016).
Ethical issues in SRM
Deceptive pricing- Price distortion is a common phenomenon while dealing with customers.
Deceptive promotion- often marketing professionals adopt unethical practices like using child labor, derogatory representation of women, sexual biases while promoting a product or service (Ko, Hwang & Kim, 2013).
Deceptive packaging- The use of symbols, items and other marks used in the packaging which is not been used in the product.
Environmental issues of SRM
Excessive wastage of resources
Use of substances which directly deplete the environment.
Non-compliance to green marketing.
Not sensitive to ecological health while conducting marketing strategies.
No inclusive policies in marketing procedure to ensure welfare of both flora and fauna which forms a vital part of environment (Ottman, 2017).
Use of non biodegradable items.
Sustainable practices in marketing
Collaboration with different organizations dealing with reuse and recycle of resources.
Encouraging clean and hygiene work environment.
Training of the employees to inculcate greener methods of marketing.
Usage and promoting eco-friendly concept in the products.
Capacity building meet the challenges of environmental concerns.
Highlighting the major public and socials issues.
Examples of sustainable marketing
Many organizations for instance in the airline industry- Emirates airline has been recycling most of its wastage where a dedicated recycle team has been dealing with the environmental wastes.
Organizations have using renewable energy resources like solar energy for powering the huge building.
Using of eco-friendly products and promoting reuse and recycle.
In built technologies for waste disposal and treatment.
Turker, D. (2018). Socially Responsible Marketing. In Managing Social Responsibility (pp. 99-114). Springer, Cham.
Ko, E., Hwang, Y. K., & Kim, E. Y. (2013). Green marketing'functions in building corporate image in the retail setting. Journal of Business Research, 66(10), 1709-1715.
Ottman, J. (2017). The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge.
Pigors, M., & Rockenbach, B. (2016). Consumer social responsibility. Management Science, 62(11), 3123-3137.