Sustainability in Australian Business: Principles and Practice

1420 Words Apr 27th, 2014 6 Pages
The Relevance of Sustainability in Marketing Decision Making

Introduction
Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler & Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus creating profits in a socially responible way. Mention triple bottom line While traditional marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers
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Walmart constantly initiates sustainability initiatives which postively affects the customer’s environmental behaviors, employees and its suppliers. It also promotes sustainablity to its employees by initiating ‘personal sustainability project’ (PSP) where employees are committed to responsible acts in front of their coworkers like from quitting smoking to replacing their lighting system at their house with energy saving bulbs. Because Walmart operates under very stringent environmentally focused practices they also enforce many laws to its suppliers to examine the carbon life cycle of their products and change the way they manufacture, package and transport the goods. This strategy saves Walmort extra costs which in turn reduce costs on the poducts they sell and which adversely can save customers money. This creates a win-win scenario for both Walmart and its
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