Nike shows support for mothers in this recent video. In time for Mother’s Day. This video offers can be integrated into and foster discussion on many different topics including:
A new key term in 17th edition of Essentials of Marketing, is B-Corporation (B-Corp) certification “a private certification that meets a high standard for social and environmental performance. An independent company, B Lab, conducts this certification process. Some B Corps are subsidiaries of publicly traded companies. There are more than 2,500 certified B Corps in more than 50 countries, a list that includes small companies and well-known names like Ben & Jerry’s, Patagonia, and Method.” (Chapter 17).
This article, “How businesses emerge better after COVID-19, according to B Lab” (Fast Company, March 31, 2020) describes how the challenges of this pandemic may get companies thinking differently. I think many consumers will emerge from the pandemic differently as well. It might be interesting to get your students thinking and talking about how the pandemic will influence consumer and company behavior.
Another #M4BW (Marketing for a Better World) Monday post. Out of the World Economic Forum, former Volvo CEO Pehr Gyllenhammar wrote this op-ed at CNN Business, “I brought socially conscious change to Volvo without hurting profits. Other CEOs cab do the same,” (January 22, 2020). I hope that headline alone lures you into the article and a discussion with your students.
Regular readers, and those who have already seen the 17th edition of Essentials of Marketing know that we believe business can contribute to making a better, more sustainable world — without necessarily sacrificing profits in the process. Barron’s recently posted an article on this topic, and while the real thing is behind a paywall, I found this copy online (I hope it lasts there for your review).
After Barron‘s ranked the 100 most sustainable companies (#1 Texas Instruments), it compared their stock market returns in 2019 (+34.5%) with those of the S&P 500 (+31.5%). The article is optimistic that this trend will continue. Why? Some of the reasons given in the article include:
The buy one give one business model has been around for many years. One of the early advocates was Tom’s Shoes which donates a pair of shoes for someone in need for each pair it sells. Warby Parker does the same for eyeglasses and Bombas for socks. In fact, you can find 16 examples in this article and slideshow at Refinery 29. This sounds like a great example of Marketing for a Better World (#M4BW).
I thought so, and then I read “Beware companies that promote ‘buy one, give one’ charity,” Vox, October 31, 2019). After thinking about this counterpoint, I wondered if the author had perhaps overstated her case — and I will still feel good that my purchase of Bombas helped put socks on a homeless person’s feet, my All Birds helped someone get shoes, and I still think Cotopaxi is a cool company with a powerful mission. But the Vox article does raise an important question and useful point of debate for the idea of marketing for a better world. It isn’t always clear when a company makes the world a better place. And if they make some people better off at the expense of others, how do we evaluate those tradeoffs? These examples and the article might prepare you for a class debate on this topic.