Principles of Enlightened Marketing: The philosophy of enlightened marketing holds that a company’s marketing should support the best long-run performance of the marketing system. Enlightened marketing consists of five principles: consumer-oriented marketing, innovative marketing, value marketing, sense-of-mission marketing, and societal marketing. Enlightened marketers also ensure that their marketing approach reflects corporate ethics.
1. Consumer-Oriented Marketing: this means that the company views and organizes its marketing activities from the consumer’s point of view. It should work hard to sense, serve and satisfy the needs of a defined group of customers.
2. Innovative Marketing: requires that the company continuously seek real product and marketing improvements. The company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way.
3. Value Marketing: The Company should put most of its resources into value-building marketing investments. Many things marketers do – one-shot sales promotions, minor packaging changes, advertising puffery – may raise sales in the short run. But add less -value than would actual improvements in the product’s quality, features, or convenience. Enlightened marketing calls for building long-run consumer loyalty, by continually improving the value that consumers receive from the firm’s marketing offer.
4. Sense-of-Mission Marketing: Sense-of-mission marketing means that the company should define its mission in broad social terms rather than narrow product terms. When a company defines a social mission, employees feel better about their work and have a clearer sense of direction.
5. Societal Marketing: an enlightened company makes marketing decisions by considering consumers’ wants and long-run interests, the company’s requirements, and society’s long-run interests. The company is aware that neglecting consumer and societal long-term interests is a disservice to consumers and society.
- Marketing Management 12e- Philip Kotler & Kevin Lane Keller
- Marketing Management 11e- Philip Kotler