Essays on Societal Marketing and Its Importance - Newmont Mining Corporation Case Study

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The paper 'Societal Marketing and Its Importance - Newmont Mining Corporation " is a good example of a marketing case study. The selling approach proposes that customers cannot buy enough products from the organization unless they are persuaded to buy through selling efforts. It assumes that under normal circumstances, customers will show resistance and thus they should be persuaded into buying. It also assumes that companies should use effective promotional tools to stimulate more buying. These marketing strategies are effective in motivating the customers' inert need into a buying motive through persuasion and selling action.

For this reason, firms must undertake an aggressive selling and promotion effort. Today, many organizations have realized the benefits of shifting from selling approach to a good cause concept that benefits society. They have recognized that giving back to society by ensuring their products or services improve the customer's welfare result in better firm performance. Good cause practices help in building high customer loyalty that in the end help in achieving growth (Westberg 2006). This is the newest marketing philosophy that questions whether the selling approach is adequate given the wide variety of societal problems.

Advocates of the societal marketing concept fail to consider long-run consumer welfare. This paper will discuss societal marketing, its importance, and cases where firms have employed the societal marketing concept. What is Societal Marketing? The societal marketing concept is based on the assumption that firms should concentrate on the needs and wants of its customers, and then ensure that they meet their demands effectively and efficiently compared to their competitors, thus improving the customers and social wellbeing. Profit is a major business motive, social marketing advocates for maintaining good practices that do not harm society and fairness to consumers.

The societal marketing concept brings corporate social responsibility (CSR) in marketing practices (Hoeffler & Keller 2002). CSR means that a corporation should be accountable for their actions that have an impact on the environment, people, and the community.

References

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Batters, L March 2008, "Corporate responsibility 'a core element", The Sydney Morning Herald, viewed < http://www.smh.com.au/business/corporate-responsibility-a-core-element-20080319-20ia.html>

Bray, K August 2015, Natural and organic cosmetics: Are you getting what you think you're paying for? Choice, viewed ,

Hoeffler, S & Keller, KL 2002, "Building Brand Equity Through Corporate Societal Marketing", Journal of Public Policy & Marketing, Vol. 21, no.1. pp. 78–89.

The Body Shop Australia http://www.thebodyshop.com.au/about-us.aspx

Westberg, K 2006, The Effect of Corporate Societal Marketing on Consumer Attitudes: A Comparison of Strategies, RMIT University, viewed

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