Laukaikul used the Sufficiency Economy Philosophy as the basis for this idea. At an individual level, this means “refraining from taking advantage of other people” and living simply.
These ideas that form the idea of Karma Marketing hold some similar principles and connections to Ed Freemans Stakeholder Theory. Stakeholder Theory promotes the creation of value to all stakeholders involved in a business – communities, employees, stockholders, financiers, and so on. This works when companies find the intersection of all stakeholders’ interests and finds opportunities to create more value for all.
I think that one way Karma Marketing can create value for all stakeholders is the focus on quality that this idea implies. For people to need less of an item, this often means the quality must be high so that it is not disposable or easily diminished. In turn, less consumption will lead to more sustainable life-cycles of products.
I agree with the critics here, that the idea is “novel” and would be challenging to integrate into the marketing industry. Minimalism is a life-style, and is challenging to get people to buy in to in the North American culture of mass-consumerism. Karma marketing would require a behavior change of the whole market, which seems like an insurmountable challenge. This life-style and ideology will only appeal to a small niche market.
Ultimately, Karma Marketing and Sufficiency Economy Philosophy highlight some key principles that will be crucial for marketers and consumers alike to keep in mind going forward. Mostly, the idea that more is better will diminish as sustainable objectives and products that are increasingly prevalent in the business world.
The word Karma has an interesting implication, which states that what you do will affect what your future will look like. It resembles the process of a feedback loop, which promotes for positive behaviour. The idea of preservation is evident; however, it is never too easy to be achieved. Consider the seven sins outlined in the bible, gluttony and of course, greed encompasses the concept of taking more resources than required. It seems the Karma marketing is basing its arguments on max-min principle, which intends to achieve a balance by maximizing the benefits for the least advantaged group. It is rare to create unity among each and every member of the society, to make some impact and create a difference. I think concepts exists to create an influence, and most importantly, to attract and categorize the population. I feel that for concepts such as Karma marketing and water conservation can only be truly effective if each and every member of the society adopts the concept, and adhere to them. This is what makes sustainability challenging, because we can always brainstorm for better and more effectively solutions, but we can never brainwash everyone to make them a follower of such concepts.
I totally agree with your points and the comments you made. After reading your post, it reminds me of food wastage, around “30% – 50% of our (around the world) food produced never makes it on to a plate” (Smithers, 2013.). Also, around 30% of food produced in UK is thrown away due to failure to meet retailers’ standard (Smithers, 2013.). This situation matches your points that in order to make people buy enough not more, quality is the key. The Patagonia example we discussed in class is a great example of Karma Marketing.
However, one critical thought is if we want to produce high quality product, it means the R&D cost and production cost will increase, will the increasing price become the main barrier that drive most customers away from choosing your products? What is the relationship between good quality and premium price?
Giving up greed seems almost impossible in today’s society. Laukaikul’s idea of Karma Marketing seems challenging and idealistic and even too difficult to apply in our mass consumerism culture. But, in my opinion, big changes and revolutions can only start that way.
The increase in sustainable life-cycles products depends on both marketers and consumers. And in order to achieve real Karma Marketing a behavior change of the whole market is needed. I agree with you on that Mina, but I do not think it is impossible. I hope the “less consumption ideology” will grow in the next years leading to a real change in our consumerism culture.