We are in an era of massive disruptions in markets, media, management approaches and business models. These disruptions are being caused by rapid technological changes on the one hand and tectonic shifts in customer preferences and societal behaviour on the other. Marketing knowledge and practices have to advance at a significantly higher pace to address the changing context of market behaviour. Handbook of Advances in Marketing in an Era of Disruptions is meant to share ideas and new knowledge that are relevant to this world of disruptions. Leading scholars from around the world, who have keenly observed the changing market environment, business policies, parameters, theories, methods and practices, have put forth their theses on how marketing thinking needs to evolve to keep pace with the market reality.
Chapter 40: Conscious Marketing: Meaning and Application
Conscious capitalism (CC) is a business philosophy that continues to gain acceptance in a number of companies, and reflects an elevation of the role and purpose of business. This research explores the influence of CC on marketing. Informed by the extant literature and qualitative depth interview data from senior executives practicing CC, we describe and explain the characteristics and dichotomies of conscious marketing (CM) in practice. We employ a theory-in-use approach to introduce a conceptual definition of CM that reflects the actual marketing practice. We conclude with a discussion of the managerial and theoretical implications of the ...