Sustainability Marketing Assignment (Doc)
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Added on 2020-04-21
Sustainability Marketing Assignment (Doc)
Added on 2020-04-21
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Running head: SUSTAINABILITY IN GLOBAL MARKETINGSustainability in Global MarketingName of the Student:Name of the University:Author Note:
1SUSTAINABILITY IN GLOBAL MARKETINGContentsIntroduction......................................................................................................................................2Definition of sustainability..........................................................................................................2Sustainability in global marketing...............................................................................................3Sustainability imperative within the business..............................................................................5Green Marketing..........................................................................................................................6Impact of green marketing...........................................................................................................7Environmentalism and Greening of Global marketing................................................................8Gaps in Literature..........................................................................................................................10Author............................................................................................................................................10Gaps in Literature..........................................................................................................................10Conclusion.....................................................................................................................................11References......................................................................................................................................13Bibilography..................................................................................................................................17
2SUSTAINABILITY IN GLOBAL MARKETINGIntroductionThe idea of sustainability in global marketing is rooted in the traditional marketingtheory. Sustainability in global marketing aims at marketing the various sustainable products andservices which tries to satisfy the needs of the customers and thus improve the social and theenvironmental process. It has been found that there are many companies which are trying toactively integrate the sustainability principles in their business line by improving the process andpursuing the growth. This will help to add the value to the company rather than concentrating onthe reputation of the company. This paper will highlight the various literatures related tosustainability in global marketing. It will make a critical analysis of the advantages anddisadvantages of the sustainable practices in global marketing. It will also explore how thecompanies address sustainability and to what extent the executives think that it affects the bottomline of the company within the next few years. There are many companies that are trying tointegrate sustainability in their strategic planning especially in the mission and values which areto be followed by external communication.These companies also try to focus on every aspect ofsustainability such as growth and risk management and return on capital. The role played by thecompanies in maintaining sustainability also helps in attracting and retaining the employees. Thiswill help the companies to gain advantage in employee retention. Although there is no singleway in creating value from sustainability, so it is important to know and find out the biggestopportunity for value creation and the risk and barriers which will serve as an important guide indeveloping the sustainable strategies (Hussain et al. 2014).
3SUSTAINABILITY IN GLOBAL MARKETINGDefinition of sustainabilityAccording to the report of Bruntland Commission, sustainable development helps tofulfill the needs of the present generation without sacrificing the needs of the future generation(Noh and Johnson 2015). Murtagh et al.(2016) has criticized the definition of sustainabilitywhich has been given by the Bruntland Commission. The basic incompatibilities between thevarious definitions of sustainable development with different approaches can be analyzed withrespect to certain changes in their respective framework. The ecological modernizers have onlyshown moderate concern for the various environmental issues and they have supported the minorchanges. There has been certain progress on green building which is considered as incrementalrather than radical. Sustainability in global marketingAccording to Bridges and Wilhelm (2008), the marketing practices which are sustainablerequire triple bottom line approach for decision making of the company. The adoption ofsustainability practice in marketing is regarded as an integrative and holistic approach whichhelps in putting equal emphasis on social equity, environmental and financial concerns. Socialand green marketing emphasizes on the various dimensions of sustainability. It is important toadopt the environmental accounting method which is necessary to assess the cost which areassociated with ownership, production cost, cost incurred in using the product and the disposalcost. This ensures that the social and the environmental cost must be taken into consideration inthe pricing decision of the product. The marketers must also be able to manage the demands andexpectations of the consumers. It is also important to practice demarketing so as to encourage theconsumers. In 1999, there were several firms which took the initiative of sustainability. Therewere several reports which were published on corporate social responsibility and it emphasized
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