Economic Themes (2008) 46 (3) 2, 17-29
Ljiljana Stanković, Danijela Stošić
Abstract: While performing business activities all organizations and institutions are open to the impact of numerous factors in the surroundings.Market position and business competitiveness are conditioned by their readiness to respond to challenges and trends in the surroundings.One of the key trends is the request for more responsible behavior of enterprises in the market and acceptance of ethical, moral and ecological principles, which is achieved, among other, through development of socially responsible marketing.Socially responsible enterprises strive to continually advance the relations with consumers and other stakeholders making the basis for sustainable competitive advantage.Interactive communication raises the level of the informing of all participants in the value chain.The authors explore the need for the enhancement of socially responsible marketing.Using theory and practice analysis, the authors conclude that the numerous critiques at the expense of this function are valid, but that the development of socially responsible marketing can significantly advance competitive position of enterprises, in order that the objectives of other stakeholders could be achieved and that of society as well.
Keywords: Ethics; Socially responsible marketing; Competitive advantage; Business performance
COMPETITIVE ADVANTAGE ADVANCEMENT THROUGH DEVELOPMENT OF SOCIALLY RESPONSIBLE MARKETING
Ljiljana Stanković, Danijela Stošić
Abstract: While performing business activities all organizations and institutions are open to the impact of numerous factors in the surroundings.Market position and business competitiveness are conditioned by their readiness to respond to challenges and trends in the surroundings.One of the key trends is the request for more responsible behavior of enterprises in the market and acceptance of ethical, moral and ecological principles, which is achieved, among other, through development of socially responsible marketing.Socially responsible enterprises strive to continually advance the relations with consumers and other stakeholders making the basis for sustainable competitive advantage.Interactive communication raises the level of the informing of all participants in the value chain.The authors explore the need for the enhancement of socially responsible marketing.Using theory and practice analysis, the authors conclude that the numerous critiques at the expense of this function are valid, but that the development of socially responsible marketing can significantly advance competitive position of enterprises, in order that the objectives of other stakeholders could be achieved and that of society as well.
Keywords: Ethics; Socially responsible marketing; Competitive advantage; Business performance
