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Q.What is societal marketing concept ?

ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2022Subjective· 3mImportance★★★★★
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Societal marketing balances customer satisfaction and company profit with the long-term good of society.

The societal marketing concept is an extension of the marketing concept. It says a company should not only identify and satisfy the needs and wants of its target customers more effectively than competitors, but should do so in a manner that preserves or improves the long-run welfare of consumers and society as a whole.

It rests on balancing three considerations:

  1. Company profits — the business must remain viable.
  2. Customer satisfaction — meeting consumers' needs and wants. …

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