The Model of Sustainable Marketing
as a Responsible Approach to Marketing
in the Era of Industry 4.0
Marek Seretny and Deepika Gaur
Abstract
This paper presents an innovative scientific proposal on
sustainability in marketing activities combined with the
latest trends in psychological research. The analysis is
supported by the previous literature, research, and
scientific reflections of the authors and implies that in
recent markets, the implementation of the sustainability
theory underlying the Model of Sustainable Marketing
(MSM) has a significant impact on business. This paper
links the concept of sustainable marketing to the
employees and consumers on one hand and authentic
leadership on the other. This establishes a new framework
linking the responsibility factor for developing a psychological capital. In addition, the implication of authentic
leadership style gives a boost to the development of the
psychological capital of employees and responsible
consumers. This completes the model of sustainable
development. The practical implication of the research
lies in fusing the theory of psychological capital that
emphasizes building self-efficacy and optimism, with
sustainable marketing to enhance performance. The
proposed concepts are worthy subject matters on which
to conduct future research.
Keywords
Sustainability Á Sustainable marketing Á Authentic
leadership Á Psychological capital
1 Literature Review
A digital transformation is now present in the modern world
and businesses are experiencing it. Regardless of the level of
business transformation, change will transform every branch
of industry. Digital transformation includes more than
updates or changes to technology. Today, clients, employees, and business partners expect a digital transformation.
Whether businesses appreciate it or not—they cannot hide
from digitalization as consumers prefer this solution to the
old, more traditional, solutions.
What energizes technological innovation in the business
environment? In principle, customer experience is the key
component. Digital transformation occurs most rapidly at the
intersection of people and technology. Digital transformation
aims to create better, smarter, and faster businesses that can
better anticipate and meet customer needs.
To function efficiently in the digital era of Industry 4.0,
organizations need new digital management talent, knowledge and management skills to plan, organize, lead, and
control its socioeconomic activity, and to find and develop
employees who can prepare goods to meet the needs of new
“connected consumers” (Kotler et al. 2017). The organization also needs different marketing knowledge and skills to
adapt to the changing nature of customer footpaths in the
digital economy. Businesses need to understand what customers expect and consequently, to rationally develop a
product or service that satisfies customers’ needs. Then, they
need to start producing, valuating, promoting—by
announcing the product or service exists. Finally, businesses
must deliver their product or service, with a commitment of
guaranteeing satisfaction during and after the sale. In this
new era, a new marketing approach is required. At the
beginning of 2017, Kotler, Kartajaya, and Setiawan introduced a new approach to marketing, giving it the name
“Marketing 4.0” (Kotler et al. 2017).
At the same time, challenges to planetary boundaries and
associated ecological, social, and economic crises confront
M. Seretny (&) Á D. Gaur
American University in the Emirates, Dubai, UAE
e-mail: marek.seretny@aue.ae
D. Gaur
e-mail: deepika.gaur@aue.ae
© Springer Nature Switzerland AG 2020
M. Mateev and J. Nightingale (eds.), Sustainable Development and Social Responsibility—Volume 1,
Advances in Science, Technology & Innovation, https://doi.org/10.1007/978-3-030-32922-8_28
283
as a Responsible Approach to Marketing
in the Era of Industry 4.0
Marek Seretny and Deepika Gaur
Abstract
This paper presents an innovative scientific proposal on
sustainability in marketing activities combined with the
latest trends in psychological research. The analysis is
supported by the previous literature, research, and
scientific reflections of the authors and implies that in
recent markets, the implementation of the sustainability
theory underlying the Model of Sustainable Marketing
(MSM) has a significant impact on business. This paper
links the concept of sustainable marketing to the
employees and consumers on one hand and authentic
leadership on the other. This establishes a new framework
linking the responsibility factor for developing a psychological capital. In addition, the implication of authentic
leadership style gives a boost to the development of the
psychological capital of employees and responsible
consumers. This completes the model of sustainable
development. The practical implication of the research
lies in fusing the theory of psychological capital that
emphasizes building self-efficacy and optimism, with
sustainable marketing to enhance performance. The
proposed concepts are worthy subject matters on which
to conduct future research.
Keywords
Sustainability Á Sustainable marketing Á Authentic
leadership Á Psychological capital
1 Literature Review
A digital transformation is now present in the modern world
and businesses are experiencing it. Regardless of the level of
business transformation, change will transform every branch
of industry. Digital transformation includes more than
updates or changes to technology. Today, clients, employees, and business partners expect a digital transformation.
Whether businesses appreciate it or not—they cannot hide
from digitalization as consumers prefer this solution to the
old, more traditional, solutions.
What energizes technological innovation in the business
environment? In principle, customer experience is the key
component. Digital transformation occurs most rapidly at the
intersection of people and technology. Digital transformation
aims to create better, smarter, and faster businesses that can
better anticipate and meet customer needs.
To function efficiently in the digital era of Industry 4.0,
organizations need new digital management talent, knowledge and management skills to plan, organize, lead, and
control its socioeconomic activity, and to find and develop
employees who can prepare goods to meet the needs of new
“connected consumers” (Kotler et al. 2017). The organization also needs different marketing knowledge and skills to
adapt to the changing nature of customer footpaths in the
digital economy. Businesses need to understand what customers expect and consequently, to rationally develop a
product or service that satisfies customers’ needs. Then, they
need to start producing, valuating, promoting—by
announcing the product or service exists. Finally, businesses
must deliver their product or service, with a commitment of
guaranteeing satisfaction during and after the sale. In this
new era, a new marketing approach is required. At the
beginning of 2017, Kotler, Kartajaya, and Setiawan introduced a new approach to marketing, giving it the name
“Marketing 4.0” (Kotler et al. 2017).
At the same time, challenges to planetary boundaries and
associated ecological, social, and economic crises confront
M. Seretny (&) Á D. Gaur
American University in the Emirates, Dubai, UAE
e-mail: marek.seretny@aue.ae
D. Gaur
e-mail: deepika.gaur@aue.ae
© Springer Nature Switzerland AG 2020
M. Mateev and J. Nightingale (eds.), Sustainable Development and Social Responsibility—Volume 1,
Advances in Science, Technology & Innovation, https://doi.org/10.1007/978-3-030-32922-8_28
283