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Marketing is currently defined by the American Marketing Association (AMA) as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large". [14] However, the definition of marketing has evolved over the years.
The article won the Journal of Marketing's Harold H. Maynard Award for its "contribution to marketing thought and theory". [14] Hunt (1981) defines macromarketing as “the study of (1) marketing systems, (2) the impact and consequences of marketing systems on society, and (3) the impact and consequences of society on marketing systems” (p. 7 ...
Societal marketing can be defined as a "marketing with a social dimension or marketing that includes non-economic criteria". [1] Societal marketing "concerns for society's long term interests". [2] It is about "the direct benefits for the organization and secondary benefit for the community". [3] Societal marketing distinguishes between the ...
In addition to the economic implications, marketing exerts a significant impact on the values of the society. The advocates of socially responsible marketing argue that the current system creates false wants, i.e. encourage people to buy more than they actually need, injects constant desire for material possession, and leads to excessive spending.
It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.
Consumer capitalism is a theoretical economic and social political condition in which consumer demand is manipulated in a deliberate and coordinated way on a very large scale through mass-marketing techniques, to the advantage of sellers.
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Disciplines such as sociology, economic history, economic geography and marketing developed novel understandings of markets [14] studying actual existing markets made up of persons interacting in diverse ways in contrast to an abstract and all-encompassing concepts of "the market". The term "the market" is generally used in two ways: