Sustainability in Marketing & Management
Critical Analysis Related To Sustainability
In the present scenario, sustainability has emerged as one of the most crucial aspect all across the globe. Furthermore, it can be stated that the activities and operations of business are affecting environment to a great extent and they have also emerged as a threat to the same (Camarero, Carrion‐i‐Silvestre, and Tamarit, 2015). At the time of carrying out their operations, it is required by companies to understand significance of protecting environment and sustainability. In simpler terms sustainability can be defined as the process in which organizations manages their risk associated with areas such as environment, finance and society. The main purpose behind carrying out this report is to carry out critical analysis of an article on sustainability which has been recently published.
Marketing is defined as the process in which various tools and techniques are used by companies in order to create awareness regrading products and services among people in the market. It can be stated that marketing is generally carried out with an objective to increase sales and profits of businesses. As per the view of Chhabra, (2015) to a certain extent marketing activities are held responsible for the damages and harm which is caused to environment. Another key area which can be held responsible is the management practises of a company.
Therefore, it can be expressed that at the time of carrying out their operations and activities it is required by organizations to look at consequences of the same in long run. According to Ryals and Macdonald (2015) businesses should look after the concept of economic sustainability wherein they can develop long lasting system of trade which posses very less impact on the environment. It can be also stated that rather than focusing only upon achieving higher sales and profits, it is required by companies to take care of aspects such social, environmental and economic development.
As per the view of Kim and Schellhase, (2015) the term global economy and ecology are interrelated and interdependent with each other. Furthermore, countries and businesses have achieved their respective economic growth by carrying out utilization of different environmental resources such as water, soil, forest etc. The problem associated with current marketing and management is that they considered customers as king and thus they ignore the needs and demand which will exist in the future (Sun and Ko, 2016).
Along with this, at the time of carrying out their management practises and marketing activities, companies also fail to ignore the need and welfare of society. However, Rakic and Rakic, (2015) has argued that the core purpose of businesses is to earn higher profits and growth in long run. Growth and development of society has never been the objective or prime purpose of organization. Nowadays, firms are being encouraged to adopt the concept of sustainability because it offers higher growth to companies along with development of society. Other than this, it can be also expressed that marketing activities results in increasing demand of products which sometimes leads to overconsumption of natural resources which are limited in amount (Kotler and et.al. 2015). Thus, it is more beneficial for firms to carry out their marketing activities and management practises by looking at long term prospective instead of seeking for short terms profits.
The concept of sustainable marketing is completely different from conventional marketing activities which are carried out by most of the companies. According to the view point of Hollensen, (2015) conventional marketing lays emphasis on meeting needs and demands of people in market. On the other side of this, sustainable marketing activities focuses on environment protection along with satisfying customers demand. The major difference between the two concept of marketing is that sustainable marketing activities helps in securing rights of future customers whereas conventional marketing is concerned only with taking care of present customers. The activities of sustainable marketing allows firms to ensure zero waste and pollution whereas convention marketing generates waste and pollution (Lenn, 2015).
The products and services which has been offered to customers can be recycled or reused in sustainable practise and this is not possible in case of conventional marketing and management. Thus, it can be asserted that in order to achieve higher growth rate in short run, traditional or conventional marketing practises can be carried out but for long terms growth, sustainable marketing has become essential. Gonzalez-Padron, Hult and Ferrell, (2016) has asserted that at present awareness related to environment, society and economy protection is increasing among people in the market. Individuals also wants that the products and services which they are buying do not have any kind of negative impact on environment and society.
Macro marketing can be defined as the concept in which companies carry out their marketing activities by along with considering the natural environment under which they operate. However, authors such as Ferrell and Ferrell, (2016) argued that marketing and environment protection are two different aspects and thus, they cannot be considered at the same time. It can be stated that the concept of macro marketing and management is not a difficult task and can be carried out by adequate efforts. Here, businesses needs to ensure that at the time of carrying out management practises and marketing activities they render customers with products and services which are environmental friendly.
This will not only support in creating sense of satisfaction among customers but will also contribute significantly in long term growth and success of a business enterprise. On the contrary of this, Wymer and Rundle-Thiele, (2016) has explained that sustainability cannot be achieve only be delivering environmental friendly products and companies are also required to take care of the fact that their marketing and management practises results in enchaining the poor conditions of environment and society.
It can be stated that implementation of sustainability in marketing and management can provide organizations with the several kinds of benefits. For example it results in enhancing overall brand image of an entity which further increase sales and profits. In the modern era, the competition among businesses in almost every sector has become so intense that it is not easy for them to attract new customers and retain old ones (Branco and Delgado, 2016).
Here, the benefits of sustainability is that it helps organizations to gain competitive advantage over other market players. The rationale behind this is that sustainable businesses offers products which do not create any kind of negative impact on environment. Therefore, customer prefer to opt for products and services of such brands in the marketplace. According to Kudłak and Low, (2015) the use of sustainable practises in marketing and management helps companies to make their existing operations more effective. Further, it also helps companies to lower down their cost of operations which is beneficial.
From the above carried out report, it can be concluded that sustainability in marketing and management practices has become very important for growth and success of a business enterprise. Further, the concept of sustainable marketing is effective because its helps in generating higher revenues along with taking care of three important areas which are society, environment and economy.
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