EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461427
Author: Armstrong
Publisher: YUZU
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Chapter 20, Problem 20.1DQ
Summary Introduction
To discuss: Compare and contrast the way societal marketing concept, marketing concept, and sustainable marketing concept meets the needs of the companies and consumers.
Expert Solution & Answer
Explanation of Solution
- Marketing concept identifies the companies thrive by way of determining the present wants and needs of the customers and it satisfies them efficiently and effectively than its competitors.
- It concentrates on the needs of short term sales, profits and growth of the companies by way of engaging the customers and its make sure that the customers gets what they need.
- Societal concept focuses on the future welfare of the customers and whereas the strategic planning concepts focuses on the future needs of the companies.
- Sustainable marketing concept is where it considers the both needs of consumers and companies.
- It takes environmental and social responsible actions which meets both the present and future needs of the consumers as well as companies.
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