I’ve been told that there is more money spent on marketing than is spent by governments on K-12 education worldwide. Marketing has a lot of influence in shaping how we live and perceive ourselves. If the purpose of marketing is to convince people to buy more, then we will never feel like we have enough. If marketing appeals to our self-interests, then we won’t be as inclined to care for the interests of others. Raj Manchanda (a friend and a Marketing scholar) and I recently published a paper in which we describe the hallmarks of SET marketing. In the paper we describe how the "profit-first" focus in conventional marketing has contributed to the social and ecological problems facing humankind. We then go on to describe what the classic 4 Ps of marketing—product, price, place, and promotion—look like from a SET perspective. This paper will be of interest to the growing number of business people and consumers who willingly compromise financial well-being and instead choose to optimize social and ecological well-being.
Springer Nature: Dyck, B., & Manchanda, R.V. (2021). Sustainable marketing based on virtue ethics: Addressing socio-ecological challenges facing humankind. Academy of Marketing Science Review, 1-18.