Question : Assertion: The marketing concept aims to maximize short-term profits for the company.
Reason: The marketing concept is focused on creating value for customers and building long-term relationships.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Solution : The answer is (d) Assertion is false, but the reason is true.
The marketing concept is a business philosophy that holds that businesses should focus on creating value for customers and building long-term relationships. This means that businesses should focus on understanding the needs and wants of their customers, and developing products and services that meet those needs. Businesses should also focus on providing excellent customer service and building trust with their customers.
The marketing concept is not about maximizing short-term profits. In fact, the marketing concept is based on the idea that businesses can maximize profits in the long term by focusing on customer satisfaction and building long-term relationships.
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