Question

Discuss the growing importance of societal marketing concept in satisfying the consumer's needs.​

Answer 1

Explanation:

Societal Marketing Concept Advantages and Benefits

• It helps to build a better image for the company.
• It gives a competitive advantage over the competitors.
• Useful in customer retention and long-term relationships.
• Increases sales and market share.
• Facilitate expansion and growth in the long term.
• Products and company policies should prioritize social welfare and society in general.
• Economic resources are properly used.
• Societal marketing raises the living standard of people in society.
• It ensures economic planning more significant and more fruitful to society.

Importance of Societal Marketing Concept

Societal Marketing is very important to society, the environment, and businesses. This concept was developed to tackle the consumerism and profit only the motive of business.

The societal marketing concept helps to maximize profits for the organization and creates a long-term relationship with customers.

It encourages developing products that benefit society in the long run and satisfies consumers