Turning to Sustainable Business Practices: A Macromarketing Perspective

Abstract

Purpose

This paper reviews recent developments in marketing-related sustainable business practices (SBP) that macromarketing scholars have researched and debated for four decades. Such SBPs should be regarded as positive steps toward a future where business does more good than harm in society.

Methodology/approach

Using the approach of a literature review, this paper highlights the actions of entrepreneurs and firms to implement SBPs resulting from analysis of the interplay between markets, marketing and society. Such analysis is in the tradition of macromarketing scholarship.

Findings

The study identifies important developments about an important shift toward adopting SBPs among many firms, as well as among consumers − especially, in developed countries of the world.

Research implications

The study suggests that taking a macromarketing view offers scholars a broad lens on current complex marketplace phenomena that will prove effective in better understanding sustainability issues.

Practical implications

The results of the study underline the value of macromarketing scholarship through the last four decades. By being daring enough to consider other stakeholders other than marketers and owners of firms, macromarketers have provided scholars a more holistic understanding of business’ role in society.

Originality/value

Today, enlightened practitioners who utilize knowledge from macromarketing scholarship can gain a competitive advantage as they navigate markets increasingly influenced by a wider set of stakeholders. Such influential stakeholders include partner firms, employees, society and local communities, NGOs, media, government, as well as the environment and future generations. Scholars can gain perspective on the phenomena they investigate with such a macromarketing lens.

Citation

Peterson, M. and Lunde, M.B. (2016), "Turning to Sustainable Business Practices: A Macromarketing Perspective", Marketing in and for a Sustainable Society (Review of Marketing Research, Vol. 13), Emerald Group Publishing Limited, Leeds, pp. 103-137. https://doi.org/10.1108/S1548-643520160000013013