Question

1. Briefly explain the societal marketing concept.

Answer 1

According to the societal marketing concept,the company puts customer's needs and wants before the profits in their decision making process.

The societal marketing concept makes the company responsible for the long term sustainable goals which will fulfill needs and wants of the society first,provide quality products and in this manner will put less pressure on the environment by utilizing the scarce resources efficiently and reducing the pollution.

A lot of companies these days have separate goals which works for providing quality products and thus strikes a balance between profit maximizing goals and that of society's needs.This will generate goodwill for the company by providing quality products which are not harmful to the environment and to the health of the customers which will in turn increase sales and profits.