Relationship between Marketing & Buddhism-An Analysis of Eight fold Path

• Main Authors: Nalin Abeysekera, Buddhika Hewawasam, Dr.K.S.Chandrasekar
• Format: Article
• Language: English
• Published: Srusti Academy of Management 2012-06-01
• Series: Srusti Management Review
• Subjects: buddhism; marketing; eightfold path; marketer
• Online Access: http://www.srustimanagementreview.ac.in/paperfile/1903298728_Relationship%20between%20Marketing%20&%20Buddhism%20-Nalin%20Abeysekera,%20Buddhika%20Hewawasam%20&%20Dr.K.S.Chandrasekar-Vol.%20-%20V%20%20%20Issue%20I%20%20%20Jan%202012.pdf
• ISSN: 0974-4274; 2582-1148

It is quite evident that practitioners, scholars as well as laypersons are debating, arguing as well as conducting research on marketing in contemporary management arena. Some researchers argued that the concept of marketing has solution for all problems faced by customers & other stakeholders. Buddhism is becoming popular in eastern as well as western countries for number of reasons; the first reason is that Buddhism has answers (solutions) to many of the problems in modern materialistic societies. Hence following research problem has been advanced in this study. “Is there any relationship between the philosophy of Buddhism and discipline of Marketing?”. Content analysis as well as interview method were performed to link the philosophy and marketing management in terms of practice and faith. According to findings these two subjects are going inline with understanding needs and wants of the people. Marketing always focuses on understanding needs and wants of the customer and their satisfaction. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products. Buddhism also includes a deep understanding of the human mind which prominent psychologists are now discovering to be very effective. A marketer can follow the eightfold path to perform well in the market.