Q.What is the Societal Marketing Concept? Give an example of a business decision reflecting it.

This concept widens the ordinary marketing concept by adding a third stakeholder to satisfy, beyond just the customer and the company.

The Societal Marketing Concept extends the ordinary marketing concept by holding that a firm should satisfy the needs and wants of its target market in a way that also preserves or improves the well-being of society and the environment, not just the immediate buyer's satisfaction and the firm's own profit.

Under this concept, a business weighs three interests together: the customer's satisfaction, the company's profit, and society's long-term welfare — rather than optimising only for the first two. …