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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.

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.

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.

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.

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.

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.

The impact of artificial intelligence (AI) and extended reality (XR, including virtual reality [VR], augmented reality [AR], and mixed reality [MR]) on marketing in Industry 5.0 and Society 5.0 is explored with systematic literature review in this chapter. AIXR is becoming a necessary aspect of marketing, driven by efficiency, productivity, and innovation. Despite AI's capabilities, the human touch in marketing is preferred due to superior adaptive, creative, and innovative abilities. The use of fully automated marketing systems is limited to specific tasks. This research will benefit both practitioners and academics focusing on AIXR in marketing and is limited by the number of included literature.

This chapter discusses whether marketing can ever be Islamic given the common view of marketing functions as unsustainable and sometimes unethical, for example, how marketing promotes materialism.

This chapter reviews extant literatures in Islamic marketing, with a particular emphasis on stakeholder orientation in marketing.

We argue that Islamic marketing is indeed compatible with the concepts of ethical and sustainable marketing encompassing social, environmental as well as economic perspectives and encourages ethical behaviour.

This chapter highlights that discussions on Islamic marketing should include sustainable marketing and emphasises the growing importance of stakeholder orientation in marketing.

Contemporary companies are operating under challenging and volatile circumstances, but at the same time they are also conditions which provide companies with powerful opportunities on an unprecedented scale. Marketers have a key role in the process of facing these challenges. By taking a lead in the process of implementing sustainability into marketing strategies, they can create sustainable company growth. The success of this process is determined by whether or not the concept of sustainability marketing becomes fundamental in the company. Sustainability marketing should be embedded at the heart of any corporate strategy and become integral to that strategy, not just a part of it or to supplement it. The aim of this chapter is to discuss the influence of the sustainable development concept on marketing strategy. To begin with, the chapter examines how the development of this concept influenced the understanding of the essence of the functioning of modern enterprises. Next, the process of managing an organization in the context of sustainable development as well as the idea of a company’s sustainable market orientation as a source of its financial and market success are discussed. The final part focuses on identifying the role of marketing in implementing the concept of sustainable development as well as clarifying the assumptions of sustainability marketing.

The Legends in Marketing series presents compilations of the seminal works of marketing scholars who have made significant contributions to the discipline of marketing. This review discusses the structure and contents of the volumes that comprise Legends in Marketing: Shelby D. Hunt (Sage, forthcoming).

By the end of this chapter, you should be able to demonstrate an understanding of:

The concept of experience and growth of the experience economy.

The role of experiences in engaging consumers and sustaining business.

The importance of experiential marketing as a tool for marketers.

Practical examples of how experiences can be used to market different products and services.