Social Marketing: A Win-Win Strategy for Business and Society
The immense success of Farmacias Similares has established a global presence, and its president, Victor Gonzalez Herrera, highlights the role of social marketing in this achievement. He explains that social marketing strategies are not primarily designed to sell products but to help, and they have proven successful nonetheless.
Consistency: A Crucial Element in Social Marketplace
Farmacias Similares’ international presence can be attributed to the virality of its most representative element, Dr. Simi, which has become a symbol of Mexican culture.
In response to this success, Victor Gonzalez Herrera argues that the viral nature and business triumph led to establishing foundations and campaigns that benefit vulnerable communities and promote reforestation worldwide.
In this context, impact-driven marketing focuses on results and community benefits rather than traditional sales tactics.
Farmacias Similares’ Success Story
When Farmacias Similares was founded in 1997, Mexico faced two significant challenges: limited access to medical care, with 59% of the population lacking social security according to a Harvard Business Review study, and an oversupply of medical professionals. These issues inspired the creation of Farmacias Similares.
“The problem was that medications were expensive, and the challenge was access to them. Both factors gave us the secret recipe,” Gonzalez Herrera explains.
Key Questions and Answers
- What is social marketing? Social marketing strategies aim to help communities rather than solely focus on sales, and they have proven successful for Farmacias Similares.
- How has social marketing contributed to Farmacias Similares’ success? The virality of Dr. Simi, a symbol of Mexican culture, has played a significant role in the company’s global expansion. Additionally, social marketing initiatives like foundations and reforestation campaigns have further solidified their positive impact on society and the environment.
- What challenges did Farmacias Similares address upon its founding? The company was established to tackle two main issues: limited access to medical care and an oversupply of medical professionals in Mexico.
