Concept explainers
To discuss: The meaning of sustainable marketing and how it varies from that of a social marketing and marketing concept
Introduction:
A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.
Explanation of Solution
The sustainable marketing requires environmentally and socially responsible activities, which meets the current requirements of business and consumers, at the same time, it enhances and preserves the capability of upcoming generations to satisfy their wants.
The marketing concept identifies that firms thrive through daily basis by identifying the present requirements and needs of target customers and satisfying those wants and needs much efficiently and effectively than the competitors does.
However, fulfilling the immediate wish and needs often do not serves the upcoming best interests of either the business or customers. On the other hand, the concept of social marketing includes the future consumer’s welfare, the concept of strategic planning includes the upcoming company requirements, and the sustainable marketing concept includes both.
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Chapter 20 Solutions
EBK PRINCIPLES OF MARKETING
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