This document outlines 5 principles of sustainable marketing: 1) Consumer-oriented marketing which focuses on customer needs and satisfaction, 2) Customer-value marketing which provides customers the best cost, product, or service, 3) Innovative marketing which introduces new marketing ideas and approaches, 4) Sense-of-mission marketing where a company's mission has a broader social context than just products, and 5) Societal marketing which takes into account society's long term welfare such as environmental campaigns. Examples are given for each principle.
2. Consumer-oriented Marketing
• Focuses on the internal and external need of a business’s
customer.
• Monitors standards of customer satisfaction.
• Strives to meet the clientele’s needs and expectations related
to the service.
Benefits;
A firm can achieve marketing goals by concentrating
on consumer satisfaction. Those companies or firms achieve
better marketing performance.
3. Consumer-oriented marketing
Example :
There are many companies who followed consumer
oriented marketing process. Nestle Bangladesh ltd. Is an
example of consumer oriented company. They are very
much conscious of satisfying the wants needs and
demands of it’s consumers.
4. Customer-value marketing
• The difference between what a customer gets from a
product, and what they have to give in order to get it.
There are three ways a company can establish customer
value to its customer base:
5. Customer-value marketing
a) Provide the customer with the best cost.
b) Provide the customer with the best product.
c) Provide the customer with the best service
Modern marketing concept-
Customer oriented orga. chart
6. Customer-value marketing
Example:
There are many companies in the world which are
customer oriented. Among them Apple, Toyota motor
corporation, Google, Southeast airlines company are
very well known for their customer service.
7. Innovative Marketing
It’s a process where a product is marketed to the target
group by the help of ideas and process which were not
used earlier.
It can be done through changes in the product design,
launching the product in unique place, uniquely pricing
the product.
For example, Amazon was the first established online
bookseller. Shortly thereafter, companies like Barnes
and Noble started selling books online as well.
8. Innovative Marketing
Why do we need Marketing innovation:
Steady decline in sales volume or revenue.
Steady decline in profitability and return on
investment.
Products or services offered are essentially
commodities with very little differentiation.
Price competition dominates sales activity etc.
9. Sense-of-mission marketing
An organization must define its mission in such away that
it has a broader social context rather than being merely
product oriented.
Example:
The mission of outdoor gear and apparel maker Patagonia might
be, “to sell cloths and outdoor equipment”. Patagonia states its
mission more broadly, as one of producing the highest quality
products while doing the least harm to the environment.
10. Societal Marketing
Marketing that takes into society’s long term welfare
The marketing of a social or charitable cause, such as an
environmental campaign.
11. Societal Marketing
Example:
Body shop is a cosmetic company found by ANITA
RODDICK. The company uses only plant based
materials for its products. It is against animal testing,
supports community trade, active self esteem,
defend human rights, and overall protection of the
planet. Thus Body shop is following the concept of
Societal marketing.
