2025 AMS World Marketing Congress

The new millennium and the various crises that society witnessed and is still witnessing today is reshaping the whole business landscape. Marketing theory and practice play a decisive role in understanding changing consumption patterns and developing new business models. To effectively enable new strategies, companies must embrace innovations in research and product development, and sustainable business practices in manufacturing and distribution, while complying with regulations.

Innovation plays a focal role in the sustainability journey of firms. As markets become more competitive and global challenges intensify, innovative solutions become imperative for addressing sustainability issues. Firms that create a sustainability culture, embrace technological advancements, invest in research and development, and foster a culture of creativity, are better positioned to develop sustainable products, services and business models. Marketing research demonstrated that innovation in sustainability extends beyond product design, encompassing every aspect of a firm’s operations, from supply chain optimization to the development of circular economy initiatives and the promotion of mindful consumption. Such innovations not only enhance a firm’s competitive advantage but also contribute to broader societal well-being.

In recent years, sustainability has reinforced its position as a critical pivotal point for contemporary firms, reflecting the paradigm shift towards responsible business practices that not only address economic, but also environmental and social concerns. Firms are increasingly recognizing the need to adopt sustainable strategies to mitigate their impact on the plant and society. This includes well-known objectives such as reducing carbon footprints and resource consumption but also integrating social responsibility into core business operations. Sustainable practices should be adequately promoted by marketing managers because they not only contribute to environmental conservation but also enhance a firm’s long-term viability by aligning with evolving consumer values and regulatory expectations.

The legitimacy of firms is closely intertwined with their commitment to sustainability and innovation. Legitimacy refers to a generalized perception that the actions of a firm are desirable, proper, or appropriate within a socially constructed system of norms, values, and beliefs. By embracing sustainable practices and fostering innovation, firms enhance their legitimacy in the eyes of stakeholders, including customers, investors, and communities. Legitimate firms are more likely to garner public trust and support, which is essential for long-term success. Moreover, as sustainability and innovation become integral to corporate social responsibility, firms that prioritize these aspects are better positioned to navigate regulatory landscapes and build enduring relationships with stakeholders.

In conclusion, the convergence of sustainability, innovation, and legitimacy is reshaping the landscape for contemporary firms. Marketing theory and applications supporting sustainable practices and fostering innovation are no longer optional but essential for long-term success. Firms that successfully navigate this intersection not only contribute to global well-being but also strengthen their competitive position, build legitimacy, and ensure resilience in an ever-evolving business environment. As businesses continue to evolve, the harmonious integration of sustainability and innovation will be instrumental in defining the legitimacy and success of firms in the 21st century.