Mediaboss Marketing

by Billie Nordmeyer

Business marketing leads to financial profits, and social marketing to societal well-being.

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Marketing is a responsibility of management through which knowledge of customers is gained and the organization's capabilities are deployed to serve these customers. In terms of business marketing, identifying and satisfying customers' needs earns the organization a financial profit. In contrast, social marketing leads to societal well-being.

The intent of social marketing is the achievement of specific behavioral goals for the good of society. For example, social marketing can encourage people to avoid smoking in public areas or lead individuals to drive at or below posted speed limits. By encouraging society to avoid demerit goods (smoking in public areas) or promoting merit goods (following speed limits), social marketing promotes the well-being of society.

The American Marketing Association describes marketing as an "activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large." In short, business marketing is the process by which customer requirements are identified and satisfied by an organization's services or products to earn a profit. It is by this process that a firm gains a competitive advantage over another business.

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The Main Difference Between Social Marketing & Business ...