SOCIAL RESPONSIBILITY AS A MARKETING STRATEGY TOOL

Keywords: social responsibility, marketing strategies, enterprises, business

Abstract

In today's dynamic business environment, integrating social responsibility into marketing strategies has become a vital approach for companies seeking long-term success and sustainability. This article examines the role of social responsibility in shaping effective marketing strategies that resonate with contemporary consumer values and societal expectations. By aligning corporate social responsibility (CSR) initiatives with core business goals, companies can enhance brand reputation, increase customer loyalty, and gain competitive advantage. The article delves into various aspects of social responsibility, including sustainable product development, ethical business practices, and community engagement. Through a combination of qualitative and quantitative analysis, the study examines examples of successful integration of CSR into marketing strategies, highlighting the benefits and challenges associated with this. The findings highlight that companies that use CSR as a marketing tool can not only make a positive contribution to society and the environment, but also generate significant business profits. In addition, high international standards of social responsibility of business entities testify to how successful and profitable social responsibility can be in the long term. Modern conditions require an innovative approach to the development of enterprises, and social responsibility, which acts as a system of relationships with stakeholders, becomes a key direction of this development. Integrating social responsibility into all aspects of the company's activities, including its philosophy and strategy. Ultimately, this article provides valuable information for companies seeking to navigate the complexities of modern marketing while fulfilling their social and ethical responsibilities.

References

Кузмак О., Кузмак О. Соціальна відповідальність бізнесу щодо сталого розвитку: кейс України. Збірник праць нова економіка том 1, №1. – 2020. https://doi.org/10.61432/CPNE0101126k

Бойетт, Джозеф Х., і Бойетт, Джиммі Т. Керівництво гуру з маркетингу. Короткий путівник із найкращими ідеями сьогодення. Опубліковано John Wiley & Sons, Inc., Гобокен, Нью-Джерсі. - 2004.

Котлер П., Картаджая Х. та Сетіаван І. Маркетинг 3.0: від продуктів до клієнтів до людського духу, менеджмент для професіоналів, 2019 .ст. 139-156.

Боуен Х. Р. Соціальні обов'язки підприємця ([1-е вид.]). Нью-Йорк: Harper & Brothers. - 1953.

Девіс К. Розуміння головоломки соціальної відповідальності: чим бізнесмен винен суспільству. Бізнес Горизонти. 10 (4). 1967. – ст. 45-50.

Фінк, Л. Лист Ларрі Фінка до генеральних директорів у 2021 році. Отримано з: https://www.blackrock.com/us/individual/2021-larry-fink-ceo-letter

Advance ESG. Що таке корпоративна соціальна відповідальність (КСВ)? Отримано з: https://www.advanceesg.org/what-is-corporate-social-responsibility-csr/

Отримано з: https://www.econa.org.ua/index.php/econa/article/view/1781/6565656848

Лабурцева О. І. Стратегічний маркетинг. Київ: КНУТД, 2012. 31 с.

Kuzmak, О., & Kuzmak, О. (2023). Social responsibility of business towards sustainable development: case of Ukraine. Collection of papers new economy volume 1, №1. https://doi.org/10.61432/CPNE0101126k [in English]

Boyett, Joseph H., & Boyett, Jimmie T. (2004). The Guru Guide to Marketing. A Concise Guide to the Best Ideas from Today's. Published by John Wiley & Sons, Inc. , Hoboken, New Jersey. [in English].

Kotler, P., Kartajaya, H., & Setiawan, I. (2019). Marketing 3.0: From Products to Customers to the Human Spirit, Management for Professional, pp. 139-156. [in English].

Bowen, H.R. (1953). Social responsibilities of the businessman ([1st ed.]). New York: Harper & Brothers. https://openlibrary.org/books/OL6132911M/Social_Responsibilities_of_the_Businessman. [in English].

Davis, K. (1967). Understanding the social responsibility puzzle: what does the businessman owe to society. Business Horizons. 10 (4). 45-50. https://doi.org/10.1016/0007-6813(67)90007-9 [in English].

Fink's, L. (2021). Larry Fink's 2021 letter to CEOs. Retrieved from: https://www.blackrock.com/us/individual/2021-larry-fink-ceo-letter [in English].

Advance ESG (2021). What is corporate social responsibility (CSR)? Retrieved from: https://www.advanceesg.org/what-is-corporate-social-responsibility-csr/ [in English].

Retrieved from: https://www.econa.org.ua/index.php/econa/article/view/1781/6565656848

Laburtseva, O. I. (2012), Stratehichnyy marketynh [Strategic Marketing], KNUTD, Kyiv, Ukraine.

Article views: 17
PDF Downloads: 11
Published
2024-06-24
How to Cite
Resler, M., & Halyo , Y. (2024). SOCIAL RESPONSIBILITY AS A MARKETING STRATEGY TOOL. Economy and Society, (64). https://doi.org/10.32782/2524-0072/2024-64-118
Section
ENTREPRENEURSHIP, TRADE AND STOCK EXCHANGE ACTIVITY