18,November 2019
In the last decade, the face of Marketing has drastically changed and evolved. The theories, approaches that were relevant in the past have all been deemed obsolete owing to the dynamic changes in the field of Marketing. The same can be seen by the latest definition given by American Marketing Association (validated in 2013), “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”Marketing activities are vital for benefitting society as a whole. Marketing is also considered to be a science, an educational process and a philosophy rather than a mere management system. Therefore, one of the primary implications among many others is that the educational institutions have to take the responsibility of imbibing the right concepts in the minds of young &budding marketing professionals. Interestingly there are B-Schools which are catering to such a pedagogy; one among them being Lloyd Business School. The institutes like Lloyd Business School have been emphasizing in their Industry-Integrated Curriculum the relevance of abiding by the Ethical & Social responsibilities while taking various business & strategic decisions. The students, therefore, understand that the crucial element for success in the Corporate world is taking the morally correct decisions and ensuring to own the accountability of the decisions taken by them.
