Marketing and Entrepreneurship: Analysis of Two Companies

This report delves into the realms of marketing and entrepreneurship, focusing on financial and societal marketing strategies. It begins by examining Oxfam International as an example of an NGO employing financial marketing, highlighting its use of advanced analytics, content marketing, and video t...Read More

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Marketing and Entrepreneurship
Question and Answers

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Answer 1) NGO that uses financial marketing:
In today’s era it can be seen that financial technology is developing at a great pace. The innovation in
the technology disrupts the marketing tactics of financial sector. In order to succeed the firm needs
to identify and use various financial technologies that can help in marketing. Recent trends in this
sector include advanced analytics, customised customer content, millennials fuel financial services,
video and other technology and relationship marketing (Financial Brand, 2016). The Non-profit
organisation taken into consideration is Oxfam International. Its various marketing activities
demonstrate how firm uses financial marketing. Oxfam International works across the 90 countries
for the purpose of eliminating poverty. Oxfam is an alliance of charitable organisations founded in
the year 1942. The headquarters of the organisation are situated at Oxford, UK. Along with the aim
of poverty eradication, organisation also focuses on advocacy, disaster relief, policy research and pro
migration. Winnie Byanyima is the current director of the organisation. The organisation was named
after Oxford Committee for Famine Relief. First expansion of OXFAM to overseas market was the
expansion in Canada in the year 1942. Today is spread across various countries round the globe. The
organisation’s mission aims at eliminating the poverty and making the lives of poor better by
exercising their human rights and dignity as full citizens (Oxfam, 2017). The people who seek
assistance regarding the above stated issues are the target market of the organisation. Oxfam has
segmented its market on the basis of supporters. Major segment includes shop gift aider, single
giver, campaigner and regular giver. One of the recent trends in financial marketing involves
advanced analytics. Big data can be a treasure for financial marketers. Today there are various tools
and software such as Qubole, Splunk, Tableau and Pentaho which has provided ease to make big
data accessible. Oxfam have mastered this art. It is developing a reasonable policy in this regard. It
has done put page and forum for organisations to understand its processes. It uses various tools and
software for the purpose of accessing big data. Access to big data can help the organisation to
identify various areas and individuals that need help (digitalhumanitarian, 2015).To reduce the cost
of advertising the firm has opted for content marketing. This strategy has successfully uses content
marketing by blogs. These customised blogs by the company provides wealth of value to the readers.
This helps the company to reduce the advertising cost and strive at the right cord. Organisation
effectively uses video technology for its marketing .For instance the organisation recently launched
3D printing, VR films and sensor touch. The VR film was based on the struggle of 11 year old Kenyan
girl to fetch water in in the drought affected area. This was an attempt to aware the people about
the issue that firm is working on. The firm is also using 3D printing and internet technology in
delivering aids as well as marketing about the organisation (Redrup, 2017).The above strategies and
methods adopted by the organisation demonstrate how firm has utilised current financial marketing
trends.

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Answer 2) Companies that use societal marketing:
Societal marketing- The term societal marketing is a type of marketing aimed to maximise social
welfare. According to this concept it the moral responsibility of an organisation, not to make any
harm to the social environment. The marketing should communicate something good to the society
(Cant, et al., 2009).Societal marketing does not only includes advertisement that positively impacts
and organisation it involves what are the basic things that a company is undertaking to create
benefit for the society, money and effort spend on the CSR by a firm and the efforts that company is
taking for changing the social policies.
The organisations that present example of societal marketing are Body Shop in manufacturing
industry and Marriot international in service industry. Body Shop was founded by Anita Roddick in
the year 1976. The company’s headquarters are situated in West Sussex, UK. The brand is spread
over 60 countries employing around 22000 people. It has a wide product portfolio having a range of
about 1000 products (Body shop 2017). Company aims to develop as a most ethical and sustainable
global brand. For building customer loyalty the brand is looking beyond profits. It has recognised its
responsibility towards the society (Faull, 2016). The company uses natural ingredients and vegetable
based ingredients for manufacturing its products. The company is strictly against the animal testing.
For the benefit of community the company also promotes community trade. It works for the
protection of planet. The company also has an organisation named Body shop foundation. This
foundation was established in the year 1990. The main aim of this organisation is to defend human
& civil rights, environment protection and animal protection. The firm believes that right kind of
change can be made to the world and business has that power to make it happen. From the above
activities it is clear that firm clearly implements the concept of societal marketing.
In service industry Marriot International is following the concept of societal marketing. Marriot
international is a well-known brand name in the hospitality industry. The headquarters of the
company are situated at Bethesda, Maryland, U.S. It has operations in around 122 countries with
more than 6000 properties. The company was founded by J.Willard and Alice Marriott. It is a family
owned business since 90 years (Marriot, 2017).The firm has adopted an approach of social welfare.
Ethical behaviour and integrity are corner stones of the company (Marriot, 2017). This approach of
company is demonstrated in its operations. The company has LEED certified buildings and offers.
About 275 Marriott hotels provide the complementary service of electrically vehicle charging
stations. The company’s performance results show that it has reduced its energy consumptions and
greenhouse gas emissions. For the environment protection the company has been supporting
Amazon forests protection since last eight years. The company is working to achieve few sustainable
targets till 2030. These targets include poverty eradiation, fighting against injustice and inequality
and tackle the issue of climate change. The company sets an example in front of other companies in
the same industry.

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References
Digitalhumanitarian, 2015. Big data into humanitarian operations, viewed on 24 August 2017 from
http://digitalhumanitarians.com/sites/default/files/resource-field_media/
IncorporatingBigDataintoHumanitarianOps-2015.pdf
Redrup, Y., 2017. Oxfam launches VR film, trials 3D printing and sensor tech, viewed on 24 August
2017 from http://www.afr.com/technology/oxfam-launches-vr-film-trials-3d-printing-and-sensor-
tech-20170613-gwqmru
Faull, J., 2016. How marketing will help The Body Shop become the world's most ethical and
sustainable brand, viewed on 24 August 2017 from
http://www.thedrum.com/news/2016/02/22/how-marketing-will-help-body-shop-become-worlds-
most-ethical-and-sustainable-brand
Marriot, 2017. About Marriott International - Find Your World, viewed on 24 August 2017 from
http://www.marriott.com/marriott/aboutmarriott.mi
Financial Brand, 2016. 5 Financial Marketing Trends Driving Conversations and Conversions, viewed
on 24 August 2017 from https://thefinancialbrand.com/57831/5-financial-marketing-trends-tools/
Oxfam, 2017. Who we are, viewed on 24 August 2017 from https://www.oxfam.org/en/about
Cant, M.C., et al. Marketing Management, viewed on 24 August 2017 from
https://books.google.co.in/books?id=6uU-Dz-sCIQC&dq=societal+marketing&source=gbs_navlinks_s
Body shop, 2017. About us, viewed on 24 August 2017 from
https://www.thebodyshop.in/pages/about-us-%E2%80%93-the-body-shop-india/pgid-357903.aspx
Marriot, 2017. Responsible Business, viewed on 24 August 2017 from
http://www.marriott.com/corporate-social-responsibility/corporate-values.mi

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