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Journal of Strategic Economic Research

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Socially responsible marketing strategies as component systems of business value management

Olha Sobko, Yurii Furyk

Received 25.11.2023, Revised 12.03.2024, Accepted 18.04.2024

Abstract

Socially responsible marketing is becoming more and more relevant today in the modern business environment, where consumers expect from companies not only the provision of quality products and services, but also compliance with ethical standards and active participation in solving social and environmental problems. Socially responsible marketing strategies are an important tool in the business value management system, as they help create sustainable competitive advantages, improve reputation and trust among consumers, and ensure long-term financial stability of the company. The purpose of the presented work is to define the main strategies of socially responsible marketing as the main components of the modern business cost management system. The main methods presented in the work are: methods of analysis and synthesis, methods of deduction and induction, method of comparison, analytical method, graphical and tabular methods for visual display of presented results. Socially responsible marketing strategies: ethical marketing, ecological marketing, social marketing, relationship marketing. The impact on business value of socially responsible marketing is manifested in the following: increasing consumer loyalty, improving reputation, reducing risks, attracting and retaining talent. Socially responsible marketing strategies are an integral part of the business cost management system. They not only help companies meet the challenges of today's market, but also create added value for all stakeholders. The implementation of socially responsible marketing contributes to increasing consumer loyalty, improving reputation, reducing risks and attracting talented employees, which in the complex ensures sustainable development and competitiveness of the company

Keywords:

socially responsible marketing; socially responsible marketing strategies; corporate social responsibility; social responsibility; sports; sports industry; business value; business value management; management system; business value management system

Retrieved from Vol. 25, No. 2, 2024

Pages 136-145

References Suggested citation

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Suggested citation

Sobko, O., & Furyk, Y. (2024). Socially responsible marketing strategies as component systems of business value management. Journal of Strategic Economic Research, 25(2), 136-145.