Ethical and social responsibility in companies

An increasing number of companies are incorporating ethics and social responsibility into their overall strategic marketing plan. Being socially responsible and ethical can result in valuable benefits for the company including an enhanced reputation, which can help to increase market share. To promote socially responsible and ethical behaviour whilst achieving organizational goals, marketers must monitor changes and trends in society’s values and ensure that their behaviours, brands and credentials reflect sustainability issues. This can include ‘Green’ marketing which refers to the specific development, pricing, promotion and distribution of products that do not harm the environment and Corporate Social Responsibility (CSR) where companies are socially involved in activities including non-profit causes, community relations and ethical principles and standards in conducting business. Using an example company, write a report that critically evaluates the concept of ethical and social responsibility including why this is of growing importance to companies. What role does CSR have in helping a business to make marketing decisions and why is ethics an important consideration in this process? What are some of the advantages for companies who chose to incorporate a CSR policy in marketing their products and brands? How can the marketing mix be used to help a company to become more socially responsible? Consider using this model within this part of your answer.

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