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Social responsibility as an instrument of marketing strategy to ensure the competitiveness of enterprises towards sustainable development

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  • Oleg Kuzmak

Abstract

The article summarizes issues regarding the role of social responsibility as a fundamental tool in shaping marketing strategy and enhancing the competitiveness of enterprises, focusing on promoting sustainable development. How companies can integrate social responsibility into their core strategies is examined to not only meet ethical and social expectations but also gain a competitive advantage in the market. The main goal of the article is to explore the essence, define the conceptual content, and justify the implementation of the concept of social responsibility into the system of strategic marketing management of a company as a necessary prerequisite for ensuring its competitiveness in the direction of sustainable development. The systematic review of the literature indicates the debatability and certain divergences in understanding and interpreting the essence of social responsibility, the implementation of the concept, and its integration into the formation of a competitive marketing strategy. The relevance of addressing this issue lies in the fact that the formation of a culture of social responsibility oriented towards stakeholders should become one of the tools for ensuring the prerequisites for the competitive advantages of modern enterprises, strengthening their image, and increasing business profits by creating value, enhancing innovation, improving relationships with customers and employees, and expanding growth opportunities. The analysis includes examples and thematic studies that illustrate the successful implementation of social responsibility initiatives, emphasizing their positive impact on brand image and customer loyalty. By aligning corporate goals with social and environmental objectives, the article advocates for a holistic approach to business that not only contributes to the common good but also positions companies as drivers of positive change in the global market. The research concludes that modern conditions require enterprises to adopt an innovative approach to development, and social responsibility, acting as a system of relationships with stakeholders, becomes a key direction in this development. Integrating social responsibility into all aspects of company activity, including its philosophy and the system of strategic marketing management, will help ensure not only a positive image but also sustainable competitiveness in the long term

Suggested Citation

  • Oleg Kuzmak, 2023. "Social responsibility as an instrument of marketing strategy to ensure the competitiveness of enterprises towards sustainable development," E-Forum Working Papers, Economic Forum, vol. 13(4), pages 70-80, October.
    • Handle: RePEc:cuc:eforum:v:13:y:2023:i:4:p:70-80
    DOI: https://doi.org/10.36910/6775-2308-8559-2023-4-9
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    1. Gunnar Friede & Timo Busch & Alexander Bassen, 2015. "ESG and financial performance: aggregated evidence from more than 2000 empirical studies," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 5(4), pages 210-233, October.
    2. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
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