Modern Marketing - Unit V social responsibility in marketing

Introduction to Industry 4.0 - need - reasons for adopting Industry 4.0

1. II B.Com. BPS
Unit -V
Modern Marketing
Dept. of B.Com. BPS -Marketing Management

2. Social Responsibility
Modernbusinessislargeandcomplex,cateringto
nationalandinternationalmarkets.
Inmarketing,understandingconsumerbehaviorhas
newproductorservice.Itisalsoveryusefulfor
companiestoidentifyopportunitieswhichhavenotyet
beenmet.
Dept. of B.Com. BPS -Marketing Management

3. Social Responsibility
Anintelligentandobjectiveconcernforthewelfare
ofsocietythatlimitsorpreventscorporatebehaviorfrom
destructiveactivities–unfairtradepractices.Such
destructiveactivitiesmaybeimmediatelyprofitableto
businessbuttheycannotbetoleratedbythesociety.
Dept. of B.Com. BPS -Marketing Management

4. Marketing Ethics
Marketingethicsis one of the most effective long-
termbranding, word-of-mouth, and trust-building
strategies for optimizing the presence, leads, sales,
and conversions of aproductor service. Marketing
ethics revolves around those principles ofethical
marketingand standards that guide acceptable
marketing conduct.
Dept. of B.Com. BPS -Marketing Management

5. Marketing Ethics
Marketing ethics are the marketing practices of
promoting fairness,social responsibility,empathy,
and honesty by followingethical standards.
Frommarketing tactics to marketing
decisionsandadvertisingof products and services,
all the ethical marketing practices focus not only on
how products would benefit users but also on how
they fulfill social responsibility and handle different
ethical issues.
Dept. of B.Com. BPS -Marketing Management

6. General examples of marketing ethicsinclude
Honesty is key when it comes to marketing –make sure you don’t
deceive your audience with false or overstated claims.
By providing customers with comprehensive and accurate
information, they can make an informed decision that suits their
needs.
Safeguarding customer data and upholding their privacy is of
utmost importance.
Refraining from pressuring consumers into buying something they
don’t need or want is essential for a successfulbusiness.
Respecting vulnerable audiences such as minors and those
struggling financially by refraining from marketing to them.
While makingmarketing communicationsand strategies, pay heed
to environmental and social responsibility andbusiness ethics.
Dept. of B.Com. BPS -Marketing Management

7. Two Types of Marketing Ethics
The ethical principles of marketing share striking
parallels with those of business, yet they can be divided
into two distinct categories –
1.Positive marketing ethics
2.Normative marketing ethics
Dept. of B.Com. BPS -Marketing Management

8. Industry 4.0
Industry4.0,whichissynonymous withsmart
manufacturing,istherealizationofthedigital
transformationofthefield,deliveringreal-timedecision
making,enhancedproductivity,flexibilityandagilityto
revolutionizethewaycompaniesmanufacture,improve
anddistributetheirproducts.
Dept. of B.Com. BPS -Marketing Management

9. Industry 4.0 has reinvented how businesses design, manufacture, and
distribute their products. Technologies such as Industrial Internet of
Things (IIoT), cloud connectivity, AI, and machine learning are now
deeply woven into the manufacturing process. This unified and
integrated approach to manufacturing results in products, factories,
and assets that are connected and intelligent.
Today’s Industry 4.0 initiatives also look to develop symbiotic and
rewarding collaborations between people and technology. When the
accuracy and speed of 4.0 tools comes together with the creativity,
talent, and innovation of your people, you get a win/win for both your
workforce and your bottom line. Your manufacturing operations
become more efficient and productive, and your teams are relieved of
a lot of mundane and repetitive tasks –giving them the opportunity to
collaborate with smart technologies and better equip themselves for
the evolving technological landscape and the AI-powered future of
work.

10. Dept. of B.Com. BPS -Marketing Management

11. Industry 4.0 technologies
1.Big Data and AI analytics
2.Horizontal and vertical integration
3.Cloud computing
4.Augmented reality (AR)
5.Industrial Internet of Things (IIoT)
6.Additive manufacturing/3D printing
7.Autonomous robots
8.Simulation/digital twins
9.Cybersecurity
Dept. of B.Com. BPS -Marketing Management

12. Manufacturing 4.0 solutions in action
1.Collaborative Design Platforms
2.Predictive maintenance
3.Supply chain optimization
4.Agile manufacturing
5.Quality Control and Defect Detection
6.Circular Economy Practices
7.Carbon Footprint Monitoring and Optimization
Dept. of B.Com. BPS -Marketing Management

13. INDUSTRY 4.0 DESIGN PRINCIPLES
1.Interoperability
2.Virtualization
3.Decentralization
4.Real-Time Capability
5.Service-Orientation
6.Modularity
Dept. of B.Com. BPS -Marketing Management

14. THE BENEFITS AND THE CHALLENGES
1.Optimization
2.Customization
3.Pushing Research
Dept. of B.Com. BPS -Marketing Management

15. Challenges facing Industry 4.0
1.Security
2.Capital
3.Employment
4.Privacy
Dept. of B.Com. BPS -Marketing Management

16. Industry 5.0
The concept of Industry 5.0 is a relatively new one. According to
theEuropean UnionIndustry 5.0 “provides a vision of industry that
aims beyond efficiency and productivity as the sole goals, and
reinforces the role and the contribution of industry to society.” and
“It places the wellbeing of the worker at the centre of the production
process and uses new technologies to provide prosperity beyond jobs
and growth while respecting the production limits of the planet.” It
complements the Industry 4.0 approach by “specifically putting
research and innovation at the service of the transition to
asustainable, human-centricandresilient European industry”
(original emphasis).
Dept. of B.Com. BPS -Marketing Management

17. Dept. of B.Com. BPS -Marketing Management

18. Dept. of B.Com. BPS -Marketing Management
Human-Centric Strategy
A human-centric strategy is one that, according to the infographic, “promotes
talents, diversity and empowerment.” The most important shift this suggests
is one from seeing people asmeans(e.g., as in human resources) to seeing
people asends.Or, in other words, a shift in perspective from people serving
organizations, to organizations serving people.
Resilient Strategy
As the European Commission argues, a resilient strategy is “agile and resilient
with flexible and adaptable technologies.” After Covid-19, global shortages of
supplies, and the war in Ukraine, there’s few who would disagree that
resilience is key—today and in the future.
Sustainable Strategy
With the current widely-shared concerns about climate change, the notion of
sustainability barely needs an introduction. Following the European
Commission, a sustainable strategy “leads action on sustainability and
respects planetary boundaries.” This implies, for example, that organizations
should pay attention to all three Ps of theTriple Bottom Lineand to all
17Sustainable Development Goals.