The process of promoting the sale or purchase of a product is called marketing and is not only a common practice but is also critical to business growth.
While the most common forms of marketing include advertising, promotion, and providing products and services to consumers for financial gain, other forms of marketing do not target financial gain but instead focus on changing certain habits in a community.
For example, social marketing aims to maintain or change people's behavior for the benefit of society. Social marketing and business marketing, while similar in some ways, also have differences.
Social Marketing
It is a sustainable and cost-effective method for influencing and sustaining behavioral changes in society. By doing so, both individuals and society benefit. Although social marketing has been used in the health sector in the past, it has evolved to accommodate multiple environmental issues, drugs and substance abuse, governance, education, business-related issues, and financial literacy, to name a few.
Because of the difficulties involved in behavioral change, social marketers have more difficult goals that may be harder to achieve.
Society marketing reasons include:
- Harm of smoking
- The importance of practicing safe sex
- Dangers of Drunk Driving
- Environmental Protection Practice
- The importance of healthy eating and exercise
Entities engaged in social marketing include:
- Government agency
- Non-profit organizations
- Health service group
- Enterprise
- School
- Public sector organization
The benefits of social marketing in society cannot be ignored.
Business Marketing
It is the process of influencing people's choice of products and services by communicating value to preserve and increase the financial benefits of an organization.
For business marketing to be effective, market research should be conducted. This helps to analyze the target audience, their consumption needs, and behaviors.
Therefore, the process of business marketing should include:
- Market survey
- market segmentation
- Target market selection
- Goal and Purpose Analysis
- Location
- The four Ps of marketing are: product, price, location, promotion
- Implement
- Monitoring and evaluation
Business marketing is the most common type of marketing strategy employed by for-profit organizations. To be effective, brands should focus on product development tailored to their ideal target market and ensure they employ a fair pricing strategy.
Similarities Between Social Marketing and Business Marketing
- Both take a customer-oriented approach
- Both use the four Ps of marketing i.e. product, price, location, and promotion
- Both have target markets
Difference Between Social Marketing and Business Marketing
- Definition
Social marketing refers to a sustainable and cost-effective method for influencing and sustaining changes in people's behavior in society. Commercial marketing, on the other hand, refers to the process of influencing people's choice of products and services by communicating value in order to preserve and increase the financial benefits of an organization.
- Product
Social marketing sells the desired behavior. On the other hand, commercial marketing sells tangible products and services.
- Target
Whereas social marketing targets people who may influence, make or encourage some behavioral change in the community, commercial marketing targets people who are likely to make a purchase.
- Objective
Social marketing prioritizes having a positive impact on society by influencing behavioral change, and commercial marketing prioritizes making financial money by selling a product or service.
- Funds
Social marketing is publicly funded while commercial marketing is privately funded.
Social Marketing and Business Marketing Summary
Social marketing refers to a sustainable and cost-effective method for influencing and sustaining changes in people's behavior in society.
Sell desired behaviors and target people who might influence, make or encourage certain behavioral changes in the community.
Commercial marketing, on the other hand, refers to the process of influencing people's choice of products and services by communicating value in order to preserve and increase the financial benefits of an organization.
It sells tangible products and services and prioritizes financial gain from the sale of products or services.