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Socially Responsible Marketing With Applications On Energy Business Case Study Company: Total

4347 words - 18 pages

COURSE ASSIGNMENT inMarketing managementEXECUTIVE SUMMARYSocially responsible marketing is a response to all unethical marketing done in the past and it came to life because companies started to pay the price of the indirect costs caused by their product. The costs can be in terms of customer's dissatisfaction by the product caused by having too high expectations due to marketing, or in terms of the product's negative implication on health or environment. Now day's customers expect to be accurately informed about the product's value and want to make sure that all indirect costs are included in the price. However, customers are not willing to pay the higher price for the product. One may say ...view middle of the document...

However, definitions of Marketing, Marketing Concept and Societal Marketing Concept are :Marketing: the process by which companies create value for customers and build strong customer relationship in order to capture value from customers in return.Marketing concept: the marketing management philosophy that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.Societal marketing concept: company should make good marketing decisions by considering customers' wants, the company's requirements, customers' long-run interests, and society's long-run interests. In other words a marketing strategy should deliver value to customers in a way that maintains or improves both customer's and the society's well being.The definition of socially responsible marketing derived from definitions above could be: the process by which companies create value for customers better then its competitors, considering customers' wants, the company's requirements, customers' long-run interests, and society's long-run interests.Customers' wantsBasic human needs according to the Maslow's Hierarchy of Needs are psychological, safety, social, esteem and self-actualization.Figure 1 Maslow's Hierarchy of NeedsA person needs to eat to survive, needs to be secured, needs to have a sense of belonging, needs to be recognized and needs to self develop. The customer will be happy if the purchased product satisfies his needs. Energy is a very valuable product for most of the customers because it satisfies many needs. However, the use of today's energy sources endangers the environment and threatens customers' safety. That is why customers prefer to have clean and cheap energy all the time. Clean and cheap energy is something that customers can compromise on, but not on the shortage of energy: homes need to be heated, transportation system needs to run, telephones need to work, and television needs to be watched.The company's requirementsA company's needs can be compared to a person's needs. After all people are the ones who make a company. If a company does not make profit it will cease to exist and the basic psychological need of self-preservation will not be satisfied. Furthermore company needs to grow and increase its strength and profits as the competition on the market can threaten its safety. By providing a good service and employment a company creates healthy and sustainable environment and creates a sense of belongings to the society, meaning it builds a reputation.A company needs license to operate, in other words a company needs the permission from the government bodies to work. The more the government bodies are convinced that the company is doing a good thing the easier will it be for the company to get a license. For an Energy company in Europe the European commission, in particular the European economic and social committee plays a big role in process of getting a license to...

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