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Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making ...
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
The triple bottom line consists of social equity, economic, and environmental factors. The phrase, "people, planet, and profit" to describe the triple bottom line and the goal of sustainability , was coined by John Elkington in 1994 while at SustainAbility, [ 3 ] [ 9 ] and was later used as the title of the Anglo-Dutch oil company Shell's first ...
A clear example that differentiates societal from social marketing is a marketing campaign on non-smoking. A smoking cessation advertisement is an example of social marketing, but if the marketing strategies and techniques used in that campaign focus on increasing the well-being of society, that same campaign can be an example of societal ...
The achievement of a global eco-social market economy by means of implementing the same ecological and social standards in all institutes and agreements on a global scale. [ 5 ] The funding of these development measures are a levy on financial transactions, a kerosene tax or special drawing rights with the IMF. [ 7 ]
Thus, socially responsible marketing draws attention to the "social costs" [1] that are embedded in the marketing, selling and consumption of private commodities. It calls for a marketing system that contributes to social and environmental sustainability, while producing profits for businesses.
Social marketing should not be confused with the societal marketing concept which was a forerunner of sustainable marketing in integrating issues of social responsibility into commercial marketing strategies. In contrast to that, social marketing uses commercial marketing theories, tools, and techniques to social issues.
A firm's marketing environment consists of three main areas, which are: The macro-environment (Macromarketing), over which a firm holds little control, consists of a variety of external factors that manifest on a large (or macro) scale. These include: economic, social, political and technological factors.