Question

Sindhu Ayurved Ltd., a new and leading manufacturer of herbal and ayurvedic medicines and grocery products has captured a large share of the market in a short span of time. The Research and Development (R&D) department of the company spends considerable time and effort in developing eco-friendly, chemical free and healthy alternatives for a variety of products of daily use, like toothpaste, biscuits, noodles, soaps, shampoos and detergents, etc. Their business orientation differs from competitors who are short sighted and serve only consumer’s needs. Instead Sindhu Ayurved Ltd. considers larger issues of long-term social welfare, paying attention to social, ethical and ecological aspects of marketing. 

1. Identify and explain the marketing management philosophy adopted by Sindhu Ayurved Ltd. 

2. State any two other marketing management philosophy.

Answer 1

(1) Societal marketing concept has been adopted by Sindhu Ayurved Ltd. Societal marketing concept emphasises social welfare along with the interests of the firm and its customers. This concept includes social implications in the decision-making. 

According to this concept, firms should consider the welfare of the society as well as consumer satisfaction. 

Following are the features of societal marketing concept: 

(i) It starts from market and society. 

(ii) Its main focus is society’s well-being.

(iii) It is based on profit through customer satisfaction and social welfare. 

(2) Two other marketing management philosophy.

 (i) Production concept. 

(ii) Product concept.