Worcester State University Professor of Business Administration and Economics Rodney Oudan

Oudan to Present on Marketing Social Policy at International Conference

May 3, 2016
By: WSU News

Rodney Oudan’s (Business Administration and Economics) sabbatical research manuscript, “Interface between Marketing, Social Policy and Development: An Evaluation and Future Directions for a Global Economy,” was accepted for publication and presentation at the 14th International Conference of Global Business and Economic Development, which will be hosted by the Society of Global Business and Economic Development and Montclair State University in June.

This paper focuses on exploratory study of the role of marketing social policy and development for emerging economies as they move toward a market-driven economic environment. There is an emphasis on historical reviews as a foundation. Deductive analysis from theoretical reviews and transcripts have revealed that marketing is still in the developmental stages and has become a necessary element for the future direction of these economies.

In summary, the paper describes how emerging countries seek a better standard of living and are experiencing some degree of industrialization and urbanization. Many have abandoned protectionist policies in recent years and are adopting a market-driven approach towards economic development. Marketing, since it is concerned with the satisfaction of needs and wants and the optimum allocation of resources, if used effectively, can ensure that economic development is promoted. Despite the fact that marketing concepts evolved in the advanced world, their most basic purpose is to serve and satisfy human needs and wants, which can be found in any cultural context. Thus, marketing may be considered a strategic element in the structure of any society, since it directly allocates resources and has an important impact on other aspects of economic and social life. Consequently, its relevance to economic development would seem clear.

Second, marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. Irrespective of its level of development, every economic system is suffused with marketing activities. These activities are carried out by private firms, governments, and individuals. Following the findings, the paper provides managerial marketing implications and highlights how market orientation and market-driven approach are necessary in a global economy context for the greater social good.

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