MKT3301 Triple Bottom Line and Marketing Concept Discussion The triple bottom line is a measure of an organization’s economic, social and environmental out

MKT3301 Triple Bottom Line and Marketing Concept Discussion The triple bottom line is a measure of an organization’s economic, social and environmental outcomes – as a measure of long term success. Read the section in text which explains both the marketing concept and triple bottom line.

Questions

1. What is the relationship between the marketing concept and the triple bottom line (10 pts)

2. Explain how your employer’s activities can be categorized in the triple bottom-line measures as outlined in the questions below. Make sure to identify the organization* (10 pts).

Economic factors – What factor is used as measure of success for your firm and how well does the and is the marketing concept useful to them. (The objectives will depend on whether the organization is a profit or nonprofit entity )

Social – Explain the social consequences achieved by organization

Environmental – Is this important for the organization in terms of how it does its business.

3. Overall, how do you rate the performance of your employer on the triple bottom line measures — excellent, good, fair or poor? Please explain why. 10 pts)

4. What do you think that the organization needs to change to improve its performance on the triple bottom line measures? (10 pts)

*If not employed you can use a former employer.

Remember to read & answer the questions briefly and carefully. Moreover, please read the concept about “Triple Bottom Line”, and “Marketing” very carefully before go ahead and do the questions. What Does the Marketing Concept Mean?
LO 1.5
The marketing concept means that an organization aims all of its efforts at satisfying its customers—at a profit.
The marketing concept is a simple but very important idea.
The marketing concept is not a new idea-it’s been around for a long time. But some managers show little interest in
customers’ needs. These managers still have a production orientation-making whatever products are easy to
produce and then trying to sell them. They think of customers existing to buy the firm’s output rather than of firms
existing to serve customers and more broadly-the needs of society.11
Well-managed firms have replaced this production orientation with a marketing orientation. A marketing orienta
tion means trying to carry out the marketing concept. Instead of just trying to get customers to buy what the firm
has produced, a marketing-oriented firm tries to offer customers what they need.
Three basic ideas are included in the definition of the marketing concept: (1) customer satisfaction, (2) a total company
effort, and (3) profit-not just sales-as an objective. See Exhibit 1-3 Q. These ideas warrant further discussion.
Some organizations explicitly consider a triple bottom line-which measures an organization’s economic, social,
and environmental outcomes—as a measure of long-term success. Profit is the economic outcome. Social refers to how
the company’s business activities affect its employees and other people in the communities where it operates. The third
bottom line takes into account environmental responsibility, usually seeking to at least not harm the natural
environment. Together, these are sometimes referred to as measures of people, planet, and profit.13
Consider Namaste Solar, which actively seeks economic profits while also measuring the impact on its local community
and the planet. For example, the company gives 20 percent of its after-tax earnings to support projects such as a
community bicycle-recycling program or the local children’s museum. Namaste Solar’s core products help the planet,
but it also offers grants of up to $30,000 to help schools and nonprofits install their own solar systems. The company
also self-monitors and reduces its waste. It recycles or reuses 90 percent of its office supplies and employs a zero waste
company kitchen. Many of Namaste Solar’s customers and employees value its triple bottom line orientation.14
Adoption of the marketing concept is not universal
The marketing concept may seem obvious, but it is easy to maintain a production-oriented way of thinking. Producers
of industrial commodities such as steel, coal, and chemicals have tended to remain production-oriented in part because
buyers see little difference among competitors. Some industries with limited competition, including electric utilities
and cable television providers, have also been slow to adopt the marketing concept. When an industry gets competitive,
consumers have choices and flock to those that deliver customer satisfaction. This provides an incentive for more firms
to practice the marketing concept. 15

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