Monday, February 10, 2020

Strategic Marketing Essay Example | Topics and Well Written Essays - 2000 words

Strategic Marketing - Essay Example In this respect, they have recognised their responsibilities towards its internal and business environment. For example, existing business organisation are more focusing on enhancing stakeholders’ value. Moreover, they are also concentrating on the welfare of society, environment and community as they have understood that these activities are very important for their sustainability and for corporate governance (Aras and Crowther, 2009, p.36). In post-modern organisations, management are using these concepts and theories as an important tool for marketing, brand development and for entire strategic management. This paper will attempt to present discussions on environmental marketing which is emerging as a tool for better strategic management. In this respect, the entire discussion will focus on critical analysis, and at first a brief overview of environmental marketing will be presented followed by critical evaluation of its increasing importance. Then, multiple influencing fac tors in environmental marketing will be assessed followed by an analysis on multiple issues in environmental marketing. ... Brief Description of Environmental Marketing Environmental marketing is an emerging concept in strategic business management and it refers to the marketing activities revolving around the environmental consciousness. The increasing environmental awareness among the management and consumers is the major reason for its development. Environmental marketing is also referred as the green marketing. Polonsky and Wimsatt have explained that â€Å"environmental marketing is rooted in the essential tension between environmentalism and modern mass consumption† (Polonsky and Wimsatt, 1997, p.38). Environmentalism involves the entire environmental related issues like global warming, air pollution, water pollution, resource depletion etc. Increasing industrialization and business activities have a greater negative impact on environment and being a social entity, the business organisations have now realized their responsibility towards the safety of environment. There is a conceptual relati on relationship between the green marketing, industrial ecology and environment. Oyewole (2001), have developed a model that clarifies this conceptual relationship. The model is given below. Figure 1: Relationship between Industry and Environment (Source: Zaman, Miliutenko and Nagapetan, 2010) As per the above figure, social cost (including monetary and non-monetary) is major factor that relates the industry and environmental aspects. Considering the social cost, business organisations are now practising green marketing management. For example, they are implementing innovative technologies to develop eco-friendly products focusing on recycling and energy conversation. Increasing Importance of Environmental Marketing Since last decade, the importance and necessity of

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