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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]
The new emphasis gives equal weight to the effects (efficiency and effectiveness) and the process (equity, fairness and sustainability) of social marketing programs. [5] Together with a new social marketing definition that focuses on social transformation, there is also an argument that "a systems approach is needed if social marketing is to ...
[5] The study of the diffusion of innovations has led to advancements in awareness of three important aspects of social change: the qualities of an innovation which lead to successful diffusion, the effect of peer networking and conversations when it comes to spreading ideas, and the importance of various "user segments" (Robinson). The theory ...
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
Instead, marketing activities should strive to benefit society's overall well-being. Marketing organisations that have embraced the societal marketing concept typically identify key stakeholder groups including: employees, customers, local communities, the wider public and government and consider the impact of their activities on all stakeholders.
In economics, consumerism refers to policies that emphasize consumption. It is the consideration that the free choice of consumers should strongly inform the choice by manufacturers of what is produced and how, and therefore influence the economic organization of a society.
Social choice theory is a branch of welfare economics that extends the theory of rational choice to collective decision-making. [1] Social choice studies the behavior of different mathematical procedures (social welfare functions) used to combine individual preferences into a coherent whole.
Value in marketing can be defined by both qualitative and quantitative measures. On the qualitative side, value is the perceived gain composed of individual's emotional, mental and physical condition plus various social, economic, cultural and environmental factors.