Socio-ethical marketing is one of the concepts of marketing, which consists in the fact that in addition to the traditional desire for profit and emphasis on meeting the needs of customers, the interests of the well-being of society and the positive impact of products on the environment are at the heart of the company’s policy.
This approach helps to create a favorable brand image, consolidates the positive reputation of the company and draws attention to the product.

What is Social and Ethical Marketing?

The concept of pure marketing includes two components: making a profit and meeting the needs of the market. The concept of social and ethical marketing is based on three factors: the interests of consumers, the interests of the company, and concern for the interests of society.

This means that producers, in addition to meeting the needs of customers and making money, should also focus their activities on caring for society, thinking about its well-being in the long term.

It is assumed that brands using the concept of social and ethical marketing should help to solve social problems, try to mitigate the harmful impact of their activities, contribute to the development of society, promote universal values and take measures to improve the environment.

Companies practicing this approach are focused on consumer expectations, strictly monitor compliance with all the requirements of domestic legislation, as well as international standards.

The requirements of this concept include: maintaining and improving the quality of communication with consumers, promoting a favorable image of the company by indicating their real achievements. In addition, the production processes must not in any way harm nature or infringe on the interests of other people.

According to research, a significant number of buyers are more willing to buy goods from companies that adhere to socially ethical principles. Brands with a social focus receive benefits such as:

• Increase in sales.
• Strengthening the company’s position in the market.
• Formation of a positive image.

In addition, the staff in such companies is usually highly motivated. In addition, it is easier for firms that apply this marketing concept to win the favor of business partners, investors, andgovernment agencies. According to BeforeItsNews Top 50, often highlight companies that successfully combine profitability with a genuine commitment to ethical practices.

Goals of Social and Ethical Marketing

The main goal of the marketing concept we are considering is to meet the needs of consumers in such a way that public interests are taken into account.

Also, companies that adhere to the social and ethical principles of doing business need to constantly look for new products and services that can most fully meet the needs of customers and ensure the interests of society.

The organization needs to take care of satisfying the wishes of customers, be in constant communication with consumers who support the company, work with doubts and objections of customers that are related to the goods or services sold by the company.

To form a positive reputation among potential customers, social and ethical companies carry out the following activities:

• Collect donations in favor of various cultural and socially significant projects.
• Organize a variety of thematic events as part of PR campaigns.
• Ensure the environmental friendliness of most production processes.
• Refuse to sell products produced using environmentally harmful technologies.
• Involve their employees in the waste sorting process, etc.

Features of the Implementation of Social and Ethical Marketing

Let’s analyze the process of implementing social and ethical marketing step by step:

Stage 1: A meaningful topic should be chosen. This can be one of the acute social problems, environmental protection, concern for the safety of children, issues related to personnel policy, etc. After you have decided on the topic, you need to set an actual task.
Stage 2: At this step, new products are developed and social projects are prepared that meet the needs of society.
Stage 3: The company needs to determine the further features of the business strategy. At this stage, adjustment to the needs of consumers is carried out, relations with partners are established, investors are searched, etc.
Stage 4: At the final step, the results are monitored and the necessary adjustments are made to the work.

Examples of Social Ethical Marketing

The concept of social and ethical marketing was formulated by the American economist and marketer Philip Kotler. Western companies began to implement strategies for this type of marketing back in the 1970s.

Large foreign brands with large consumer audiences, such as Coca-Cola, Procter & Gamble, McDonald’s and L’ORÉAL, have long been using social and ethical marketing, they spend a lot of money to ensure the environmental friendliness of production processes, and participate in many charity events.

Ethical marketing has become widespread in the US Market relatively recently, but more and more American brands are striving not only to make instant profits, but also to gain more public support. This approach raises the status of the company in the eyes of consumers and opens up broad prospects for the successful development of the project.

Conclusion

It is not in vain that large companies invest considerable resources in solving social problems of society. Thus, they put a favorable opinion of themselves in the consumer’s mind, which leads to an increase in sales and an increase in profits.

As for small companies, the use of social and ethical marketing can start small, sorting waste, accepting batteries for recycling, replacing plastic bags with environmentally friendly packaging. Such behavior will receive public support, raise the status of the company in the target market and open up new prospects for further development.