Responsible Marketing: Doing Well by Doing Good

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Suggested Citation

Bhattacharya, C. B. (2016). Responsible Marketing: Doing Well by Doing Good. GfK Marketing Intelligence Review, 8(1), 8-17

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Year

2016

Authors

CB Bhattacharya

Publication title

Responsible Marketing: Doing Well by Doing Good

Publication

NIM Marketing Intelligence Review

CB Bhattacharya

Business value and social or environmental values can go hand in hand. If companies not only create socio-environmental value by caring for people and our planet, but they also drive business value and profit through such initiatives, then corporate social responsibility (CSR) can be a source of competitive differentiation and advantage. In such companies, sustainability initiatives are close to the core businesses; this leverages the companies’ competencies and is in line with company values and principles. While some stumbling blocks need to be mastered on the way, many companies have applied this concept successfully. The business value created by CSR initiatives includes employee and customer loyalty, positive word of mouth, resilience to negative information about the company, and several other coveted business outcomes.
To integrate CSR successfully, management should be committed to its causes, integrate all stakeholders in the initiatives and communicate about projects in an open, honest and authentic way. Much like other aspects of marketing strategy, there is a need to monitor and measure sustainability efforts to fine-tune activities and ensure overall success.

Authors

CB Bhattacharya, Zoffer Chair of Sustainability and Ethics, University of Pittsburgh

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