Formation of social responsible marketing strategy

Abstract

This article, based on the analysis of theoretical sources and practical examples, examines the significance and importance of social responsible marketing strategy and its formation process on the example of for-profit clothing retailers to achieve long term competitive advantage in the market. The strategy of social responsible marketing is focused on the well-being of society, which includes environmental protection, excessive consumption, social exclusion, often vulnerable groups of socially sensitive people and other social problems. Recently, more and more companies are adopting a social responsible marketing strategy, because customers pay attention to corporate social responsibility, when addressing public welfare issues. The aim of this article is to reveal the components/stages of social responsible marketing strategy formation process in clothing retail companies. After analyzing the peculiarities of social responsible marketing, components of social responsible marketing strategy and formation processes in retail companies, reviewing two cases of social responsible marketing strategy in Patagonia and Toms Shoes retail companies, a theoretical model for the formation of social responsible marketing strategy of retail companies is created.