Shultz (2007) defined marketing as a constructive engagement which consists of societal functions and a system of processes employed in communication, creation and delivery of products and services to customers as well as those employed in managing relationships with customers and the society such that the stakeholders in these processes benefit. Shultz noted that both consumers and marketers tend to make selfish decisions that are deemed profitable at the moment but are actually harmful in the longterm. Macromarketing, therefore, plays two roles; examining the steps required to avoid the temptations of taking strategies that seem on the short term without consideration for the future and optimizing the outcomes of decisions of stakeholders of a market system, for the present and future generations. In other words, focuses on aligning decisions such that their outcomes benefit multiple market system stakeholders. Global markets are full of imperfections and systemic failures caused by closely interacting market forces (Shultz, 2007). Such problems include pollution, poverty, diseases like HIV and cancer, depletion of raw materials, etcetera. Addressing these problems calls for tough decisions. Shultz noted that trying to solve these problems without taking a macro marketing approach may be disastrous.
The Rising Need for Macro Marketing
The current global market is one big stage where multinational companies are the main actors. Business organizations are tasked with the responsibility of building economies through transnational trade. They have a responsibility to produce goods or provide services that suit customers’ needs. In doing this, organizations are required to ensure a sustainable exploitation of resources, in addition to ensuring sustainable economic development. Globalization has increased the demand for sustainability (Govindarajan & Gupta, 2002). In addition to looking at the best way to utilize resources available within the organization, businesses also need to be concerned with how organizations exploit natural resources and the impact of their activities on the environment. The days where organizations were only concerned with reaping maximum profits with little care for the impact of their activities are long gone. The current business environment demands social responsibility from an organization. In fact, customers are nowadays very concerned with an organization’s social responsibility.
Similarly, employees are getting more concerned with an organization’s social responsibility. Mol & Wijnberg (2011) noted that when applying for jobs, employees will look out for companies which value their services. This is determined by how well a company trains, develops, deploys and remunerates employees. To be successful, businesses must balance profit making with social responsibilities like philanthropy, sustainable exploitation of resources and environmental conservation, if at all they are focused on building strong brands. Customers are also increasingly concerned with how businesses are run, and the effect of marketing on the society. For example, ethical shoppers have previously voiced concerns over Wal-Mart’s monopolization of the retail industry since it has made it almost impossible for small retailers to thrive (Govindarajan & Gupta, 2002). Environmentalists are also concerned with the establishment of large buildings especially in small neighborhoods where they increase congestion, pollution and reduce the quality of life.
Macro Marketing at Burberry
As stated earlier, macro marketing focuses on examining the steps required to avoid the temptations of taking strategies that seem on the short term without consideration for the future and optimizing the outcomes of decisions of stakeholders of a market system, for the present and future generations. Currently, there is a growing concern for environmental conservation and sustainable use of resources as well as company ethics in terms of trade and employee management. Environmental conservation and sustainable use of resources is deemed necessary so as to ensure that resources are available to future generations. Consumers are therfore taking this seriously in choosing brands. Additionally, fair trade is becoming increasingly popular, with the aim being to protect small enterprises from big firms’ monopoly. Finally, as stated earlier, employees management is being taken more seriously nowadays, with companies that value their employees’ contribution getting a bigger share of the market. These aspects will be the key areas of focus in the analysis of macro marketing at Burberry.