Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. The societal marketing concept is not solely focused on maximizing shareholder wealth. It goes beyond profit-making and includes considerations for societal well-being and social responsibility.

The reason is true. The societal marketing concept does indeed integrate social responsibility into the company's business strategy. It emphasizes the importance of considering the broader societal interests and responsibilities alongside the organization's objectives.

In summary, both the assertion and reason are true, but the reason is not the correct explanation of the assertion. The societal marketing concept is about balancing both societal welfare and organizational goals, not exclusively focusing on maximizing shareholder wealth.