IGNOU : M.COM : MCO 6 : UNIT 1 : Q - 2. 'Marketing involves satisfaction of Consumer Needs'. Elucidate the Statement.

 Ans. The Societal Concept proposes that the enterprise's task is to determine the needs, wants and intentions of the target market and to deliver the expected satisfaction more effectively and efficiently than the competitors in a way to preserve or enhance the consumer and society's well being. It combines the best elements of marketing to bring social change in an integrated planning and action framework with the utilization of communication technology and marketing techniques. It also looks for marketers to build social and ethical considerations into the marketing practices. The goals of profit maximization should match with the goals of customer satisfaction and responsible corporate citizenship. Social marketing often termed as cause related marketing utilizes concepts of market segmentation, consumer research. product concept development and testing, communication to maximize the target adopters response.

With the growing awareness of the social relevance of business, there is an attempt to make marketing also relevant to the society. In a sense, marketing is not a business activity alone but must take into account the social needs. Excessive exploitation of resources, environmental deterioration and the customer movements in particular have necessitated the recognition of the relevance of marketing to 1lie society. Marketing then must be a socially responsible or accountable activity. The societal concept holds that the business organization must take into account the needs and wants of tile consumers and deliver the goods and services efficiently so as to enhance consumer's satisfaction as well as the society's well being.