Question : Case Study:
A company considers both customer satisfaction and societal well-being as essential goals. They focus on delivering value to customers while also considering environmental and social responsibilities. This philosophy reflects:
Option 1: Societal Marketing Concept
Option 2: Product Concept
Option 3: Selling Concept
Option 4: Marketing Concept
Correct Answer: Societal Marketing Concept
Solution : The correct answer is (a) Societal Marketing Concept.
The Societal Marketing Concept is a marketing philosophy that extends the principles of the Marketing Concept to include a focus on the long-term well-being of both customers and society as a whole. It emphasizes delivering value to customers while also addressing the broader social and environmental concerns. This approach takes into account not only the needs and satisfaction of customers but also the ethical, social, and environmental impacts of marketing practices. The ultimate goal is to enhance overall societal welfare while meeting customer needs and achieving business objectives.
A company is dedicated to delivering value to customers while also considering the well-being of society. They prioritize environmental sustainability and ethical business practices. This philosophy aligns with the:
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