Some companies have built a bu
Some companies have built a business model on socialresponsibility. Some see “social responsibility” as a needcomponent for marketing in the future. Specifically, knowing whatyou now know about consumer-buying behavior, is “sociallyresponsible” a determinant for future success, or just a trend?State the opposing arguments to social responsibility being adeterminant for marketing success or a trend; compare and contrastthese arguments in terms of benefits and detrimental effects onindividuals, businesses, and the societies or nations in which theyfunction. Finally, evaluate the arguments, supporting your stancefor one argument over the other.
Answer:
Socially responsbile has become a buzzword among many companiesthese days. Many companies like to advertise that their productshave been manufactured through ‘socially responsible” methods andthe company too, as a whole, tries to project a sociallyresponsible image.
Being socially responsible encompasses many things. It invludesmaking sure the products are not being made in sweat shops, thatchild labor is not involved, that the working conditions of thelabor is good, that pollution is not being created by theproduction, that the product doesnt harm the environemnt and muchmore.
We need to decide whether being socially responsible a positiveeconomic growth driver for a company. Can it be a marketingsuccess.
From the current trends, it is increasingly important to besocially responsbile, especially if targeting the coveted youngdemographics. Young people are increasingly aware about theenvironment and how the product was made. From purely a marketingperspective, its very important to be socially responsible and isan important driver of marketing success. Most people are morelikely to identify and associate with a company/product which theyconsider socially responsible.
In terms of the effect of this trend on individuals, its apositive effect only. They feel good associating with such brandsand in long term this trend has positive impact on the environmentand hence, by extension, on the individual.
Its a double edge sword for a business as they do need tobalance being socially repsonsible with costs. Often sociallyresponsible manufacturing incurs higher costs. As long as thisbalance is maintained, this can be a positive impact on thebusinesses. If not, it can be negative.
For socities and nations also this is a double edge sword. Onone hand reduced pollution, better conditions for those employedetc are definite positive, on the other hand the increased cost ofproviding these may result in taking away the cost advantage ofmany developing countries where these companies manufacture. Thismay result in the companies no longer operating there- resulting ina net loss.
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