Question : Statement 1: Societal marketing concept integrates social responsibility with business objectives.
Statement 2: Marketing concept disregards societal welfare and focuses on 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 societal marketing concept does integrate social responsibility with business objectives. It emphasizes not only satisfying customer needs and organizational objectives but also considering the broader societal well-being and ethical considerations in business decisions.
Statement 2 is false. The marketing concept does not disregard societal welfare and solely focus on profits. The marketing concept is customer-oriented and aims to provide value to customers while considering societal values and norms. It involves understanding customer needs and wants and creating products or services that fulfill those needs while also ensuring profitability.
Therefore, statement 1 is correct, and statement 2 is false.
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.
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