Question : Statement 1: Marketing concept aims to create value for customers and build relationships.
Statement 2: Societal marketing concept disregards societal welfare for business profits.
Option 1: Both statements are correct.
Option 2: Statement 1 is correct, and statement 2 is false.
Option 3: Both statements are incorrect.
Option 4: Statement 2 is correct, and statement 1 is incorrect.
Correct Answer: Statement 1 is correct, and statement 2 is false.
Solution : The correct answer is (b) Statement 1 is correct, and statement 2 is false.
Statement 1 is correct. The marketing concept is a business philosophy that holds that a company's primary goal is to create value for customers and build relationships with them in order to achieve long-term profitability.
Statement 2 is false. The societal marketing concept is an extension of the marketing concept that recognizes that businesses have a social responsibility to consider the welfare of society as a whole in their marketing decisions. This means that businesses should not only focus on creating value for customers, but they should also strive to minimize any negative impacts that their activities may have on society.
