Recent marketing, marketing has changed dramatically influenced by new information technologies and the Internet expansion. The influence of new marketing transcends the strict sale of products and services. Since marketing has a profound effect on global; culture, it should augment society and stimulate social progress. It must have standards of taste, conduct, and integrity that extend well beyond legal minimums-it must become more responsible and socially aware.
Thus it appears that the social role of marketing will be sharpened by the increasing public concern for responsible business actions, by greater awareness of the social implications of management decisions, by rising social expectations, and by better educated, trained, and more socially concerned managers who perform marketing functions. Marketing executives, in the long run, have no alternative but to act in a socially responsible manner (Bearden et al 2004).
This is so because of power-responsibility relationships. Many marketing executives seem to be altering their viewpoint of government roles — from the traditional perspective of government intervention being inherently undesirable and wrong to a recognition of the necessity of a government role in business as a regulator, arbitrator, stimulator, customer, and even partner. This orientation is embodied in the concept of a new, socially conscious capitalistic or market system.
And in fact, there seems to be a feeling today among many young people that government and not business is where the action is. In the last few years, there have been governmental decisions about quality standards, devices for controlling air pollution, implied product warranties, packaging rules and regulations, the relationships of national brands to private labels, pricing practices, credit practices, mergers, and acquisitions (Boone and Kurtz 2004).
For instance, such corporations as Amazon.com and BroadBand Sports marked a new era in modern business. Still, no perfect economic system has existed or ever will exist, and the market system is no exception. Marketing can play a role in solving some of the fundamental problems currently confronting our nation. For instance, the renewal of our urban areas is closely related to marketing development and practices, particularly in the area of retailing.
The reduction and elimination of poverty can benefit from the economic contributions of marketing. Marketing’s relationship with other areas also changed. They became reciprocal in nature. Modern marketing is concerned with basic developments in economy, culture, and society. Such approaches in business as consumer values, innovation, human behavior, market institutions, and utilization of productive capacity, economic development, and life style are the main examples (Kotler and Armstrong 2006).
Modern marketing takes into account such approaches as social psychology, economic anthropology, and economic psychology in order to meet the highest demands of modern customers. In marketing market leaders see the development of new management, marketing communications, and marketing geography. As the interdisciplinary approach to business develops, the tendency may become more pronounced (Reed, 2006).
The interdisciplinary approach to new marketing recognizes the existence of two opposing situations-first, that marketing is a discipline separate from the others and has unique problems and subject matter; and second, that substantive marketing areas do exist where marketing can profit directly from joint study with other disciplines. The selection of distribution channels, the establishment of product-line or branding policy, and the evaluation of marketing effectiveness are examples of the former (Boone and Kurtz 2002). The investigation of wants, needs, motives, status, and population changes reflects the latter. The role of the new approach in marketing depends on and shapes the future direction of the business world.
Bibliography
Bearden, W. O., Ingram, Th. N., LaForge, L.W. 2004, Marketing, Prentice Hall.
Boone, L.E., Kurtz, D.L. 2002, Management, McGraw-Hill, New York.
Kotler, Ph., Armstrong, G. 2006, Principles of Marketing. Prentice Hall; 11th edition. Reed, P. Strategic marketing planning, Thomson Victoria.