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Marketing and Its Social Implications: Concerns and Initiatives
Abstract
Companies adopt marketing practices to delight their customers, develop customer relationships, and generate revenues and profits. However, sometimes, companies focus solely on their selfish motives of growth and prosperity forgetting about customer welfare and welfare of the society. Marketers are criticized for such practices and the negative impact created on the society. The practices include high prices of products, high distribution costs, high advertising and promotion costs, excessive mark-ups, deceptive practices, high-pressure selling, questionable products, planned obsolescence, and poor service to disadvantaged customers. Marketers are criticized for creating false wants and materialism, scarcity of social goods, and cultural pollution. They are accused of harming and reducing competition. In this age of social marketing, companies should consider societal concerns of various stakeholders and maintain a balance between their own objectives of generating revenues and profits and long-term societal requirements. This will help in sustaining the society.
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