The Applicability of Societal Marketing Concept by Multinational Oil Companies
The Applicability of Societal Marketing Concept by Multinational Oil Companies.
ABSTRACT
The fundamental objective(s) of most businesses is primarily to maximize profit(s) without any regard to the threat posed on the environment due to their multifarious businesses activities. This insatiable and inexhaustible quest for profit maximization is been brought under strict scrutiny and great criticisms.
Over the years, various stakeholders have indeed opined that businesses are not in essence set up solely to make profit(s) only rather should include the advancement of the interests and protection of the totality of the society and its environment as a whole.
Due to the recent awareness in the proper role of businesses in the society and has led to an increased sensitivity to social, environmental and ethical issues.
This has further necessitated the need for effective and efficient adoption, implementation and execution of policy guidelines in line with the rudiments, tenets and principles of societal marketing concept postulated by Philip Kotler.
Multinational oil companies after a careful perusal of data obtained in the field have not adequately internalized the principles of societal marketing concept.
In contrast to the expectation(s) of their host communities, thus, resulting in a situation where residents of the host communities feel marginalized, abandoned, neglected and left at their own whims and caprices without bearing in mind that their immediate environment (both flora and fauna) have been greatly ravished and abused.
INTRODUCTION
Marketing can best be described as a “social process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and value with others” (Kotler,2000). Modern conceptions of marketing philosophy are usually traced back to the early part of the twentieth century.
Many marketing theoreticians have concurred that there are five distinct eras in the development of marketing theory and includes the production orientation, product orientation, sales orientation, market orientation, and the societal marketing orientation (Keith,1960; Dawson, 1969; Bartels, 1974; Kotler and Keller, 2006).
The various perspectives on the development of marketing theory are in reality the differences in perspective, with some researchers viewing it not simply as a managerial and economic activity but also as a social process (Bartels, 1970; Bartels, 1974; Hunt, 1976; Kotler, 2000].
The objective of businesses to maximize profit has been under great criticism. There have been several views that the fundamental objective of businesses should not be to maximise profit only, but should include the advancement of the interests of the society as a whole.
Today’s awareness and interest in the proper role of businesses in society has promoted the increased sensitivity to social, environmental and ethical issues. Environmental damage and improper treatment of workers are highlighted in the media.
In some countries, government regulation regarding environmental and social issues has increased, and standards and laws are often set at a supranational level (e.g. by the European Union).
BIBLIOGRAPHY
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CSN Team.
