What is the concept of social responsibility in marketing?
Table of Contents
Social responsibility in marketing involves focusing efforts on attracting consumers who want to make a positive difference with their purchases. Many companies have adopted socially responsible elements in their marketing strategies as a means to help a community via beneficial services and products.
Social responsibility in business, also known as corporate social responsibility (CSR), pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.
What are the types of social responsibility?
Read on to discover the four types of corporate social responsibility of business and how they look in action.
- Environmental Responsibility.
- Ethical Responsibility.
- Philanthropic Responsibility.
- Economic Responsibility.
- The Benefits of CSR.
Why social responsibility is important in business?
Being a socially responsible company can bolster a company’s image and build its brand. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.
4 benefits of corporate social responsibility.
- Increased employee satisfaction. The way a company treats its community says a lot about how a company treats its employees.
- Improved public image.
- Increased customer loyalty.
- Increased creativity.
Starbucks. Starbucks has been around for more than four decades,and from the very beginning it has worked hard to operate in an ethical manner.
What are the main ethical issues of marketing?
Marketing ethics deals with the moral principles behind the operation and regulation of marketing. Possible fundamental frameworks of analysis for marketing audit are: · Value-oriented framework, ethical problems on the basis of the values which they infringe e.g. honesty, autonomy, privacy, transparency.
What are the roles and responsibilities of marketing?
In some companies, marketing departments are responsible for organizing events, such as exhibitions, seminars, sales conferences or customer hospitality events. They plan the logistics of the event, booking exhibition booths or meeting facilities, for example, and provide event material, such as displays, presentations or handouts.
When social responsibility is recognized as part of a company’s business model, it can attract positive publicity, help attract and retain top talent, and improve relationships with customers and their communities. The benefits can be far and wide, including client retention, improved sales, and financial success.