When companies make marketing decisions by considering consumers wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?

MARKETING MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When companies make marketing decisions by considering consumers’ wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?

A	Production Philosophy
B	Societal marketing Philosophy
C	Selling Philosophy
D	Product Philosophy

Explanation:

Detailed explanation-1: -The societal marketing concept is the idea that a company’s marketing decisions should consider consumer wants, the company’s requirements, consumers’ long-term interests and society’s long-term interests. Companies should deliver value in a way that maintains consumers and society’s well-being.

Detailed explanation-2: -The societal marketing concept is an enlightened marketing concept that holds that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, and society’s long-term interests.

Detailed explanation-3: -The Body Shop is a company that uses the societal marketing concept in its advertising. Societal marketing means that the company takes into account the needs of society when creating its ad campaigns. The Body Shop’s societal advertising often focuses on social issues, such as environmentalism or animal rights.

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BUSINESS ADMINISTRATION

MARKETING MANAGEMENT