Tuesday, February 19, 2013

Purpose Marketing

The purpose of marketing is to sell products, but there is also a new way, known as purpose, purpose-based, or pro-social marketing, to do it.  Purpose marketing is advertising for good and conscious capitalism, it informs consumers with information about the values, behavior and beliefs of the companies that sell the products. The goal is to convince potential customers that the companies operate in a socially responsible manner.  So in other words, it's selling products by selling shared values which goes beyond strategies like making charitable contributions or selling a product in recyclable packaging.  Purpose marketing is becoming popular because of the growing number of shoppers who say that what a company stands for makes a difference in what they do and do not buy.  A company that pursues purpose marketing must communicate what its core values actually are.

A good quote on this topic is from a New York Times article, "Consumers are seeking 'authentic emotional connections' with brands", said Mandy Levenberg, vice president and consumer strategist for cause and sustainable living at CEB Iconoculture, a consumer research and advisory firm that is part of the Corporate Executive Board Company, and the perception that certain “shared values” can increase loyalty.

Is this the next big successful move in marketing for years to come?


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