Why is social responsibility important in marketing? By Investopedia Updated August 19, — 4: Social responsibility in marketing involves focusing efforts on attracting consumers who want to make a positive difference with their purchases. Many companies have adopted social responsibility strategies in marketing as a means to help a community via beneficial services and products.
Sensodyne is one of the best selling products produced by this company. At present, GlaxoSmithKline is largest pharmaceutical manufacturer in the world withholding subsidiaries and branches across the globe.
The company operates more than 15, stores in about 60 countries with 10, in the United States and India altogether GlaxoSmithKline, Today, Sensodyne is known to be the best solution to sensitive teeth in all corners of the world Sensodyne, Just like many other modern companies, GlaxoSmithKline employs the most current marketing strategies to capture the new and retain existing Sensodyne markets.
Introduction GlaxoSmithKline has to invest in research and development in order to come up with not only innovative but also effective Sensodyne products. These products must be appealing and create value for money to the consumers.
In addition, the company must establish the nature and location of its target market and how the various products will reach those who need them.
GlaxoSmithKline and its competitors understand that it would be risky to set the price at a level that the market is not willing to pay Dent, Therefore, GlaxoSmithKline must price the Sensodyne products at exactly the market price or below the market price so that it captures a bigger market share as compared to its competitors.
Strategic marketing and promotional strategies and tactics are an important factor to consider in ensuring that the Sensodyne products reach the targeted market. All together, with proper utilization of the marketing strategies, GlaxoSmithKline will generate a competitive advantage over its competitors that will lead to the capture of an additional market share.
If you would like to read the entire paper, click here to purchase a membership pass now.Social media invites a two-way conversation between the poster of the information and the reader.
There are various processes that a marketer must go through to make sure that his internet based marketing . A hundred years ago, most businesses were local brick-and-mortars that relied on door-to-door marketing to engage the public.
As technology evolved, motion pictures, radio and . Social Media Goals to Consider in Goal setting is a staple of all marketing and business strategies.
Social media is no exception. Of course, with a range of social capabilities, it can be difficult to determine exactly what your objectives should be.
Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them. 27,,).
May 21, · Reflective essay This is the last blog post from Yin Man Law K, which describes what she has learned from this Design thinking and Entrepreneurship module this year and relate these experiences to her future goals. Social Marketing • It is the use of marketing principles and techniques to influence a target audience to voluntarily accept, reject, modify, or abandon a behavior for the benefit of individuals, groups or society as a whole (Kotler and Roberto, et al.