Organization's task is to determine the needs & wants of target market, but at the same time they should also focus on the well-being of the society. Which orientation focuses on this aspect of marketing? A. Product concept B. Societal marketing concept C. Production concept D. Marketing concept
Question
Organization's task is to determine the needs & wants of target market, but at the same time they should also focus on the well-being of the society. Which orientation focuses on this aspect of marketing? A. Product concept B. Societal marketing concept C. Production concept D. Marketing concept
Solution
The correct answer is B. Societal marketing concept. This concept holds that a company should make marketing decisions not only by considering consumers' wants, the company's requirements, but also society's long-term interests. The societal marketing concept is the principle that a company should make good marketing decisions by considering consumers' wants, the company's requirements, and society's long-term interests. It's a principle that stresses the importance of delivering value and benefits, not just for customers, but also for society.
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