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Sunday, August 22, 2010

General Thoughts & Survey - Consumer Choices

While thinking about the fundamental elements of creating a marketing plan we have to consider the mission of the "company" (our business); or the reason for the business, service or product.  Part of my mission is to create long-term relationships with clients that involves what is termed relationship marketing (as opposed to transactional marketing) and social responsibility.

I think that the consumer and general public were let down by the banking, real estate, appraisal and government (in terms of fiscal and monetary policy as well as the lack of oversight).  In my opinion what is needed moving forward is professionals that base their success not on the amount or value of their transactions but on the amount and value of their relationships (of course profitability is the primary goal).  The consumer should seek trusted advisors, consultants and professionals that have their best interest in mind; particularly when they hire professionals for that particular reason.

Also, consumers do (and should) demand social responsibility from today's businesses. So many company's lack a socially responsible attitude and do not address social responsibility in their operations. In fact, I beleive that social responsibility is no longer a marketing tactic but needs to be fully integrated into the core business strategy.

So what does this all mean?  My business plan is to build relationships with consumers based on trust and expertise in consulting.  Also, I will build in an integrated philanthropic strategy into my core business by dedicating a portion of my profits to organizations (non-profits) that serve the community. 

So my question to you is; would you choose a service provider based on the fact that they have a socially responsible (like philanthropy) program?  And are you more selective of the people and company's you choose based on the events that led to the Great Recession, housing crisis and the more recent issues with corporate fraud?

Here is a good text on helping to make socially responsible decisions, investing:

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