The upcoming discussion will update you about the difference between marketing concept and societal marketing concept.
Marketing concept accepts the consumer as the ‘King’. It starts with the target consumers’ needs and wants, integrates marketing functions, and offers consumer satisfaction at a profit (the key to satisfying organisational goals).
Societal marketing concept goes far beyond the marketing concept. It is concerned with the long-term health and happiness of consumers and well-being of society. This concept questions – whether the firm that does an excellent job of serving and satisfying individual consumer wants is necessarily acting in the best long-term interests of consumers and society.
According to Philip Kotler, “The societal marketing concept holds that the organisational task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfaction more effectively and efficiently than competitors in a way that preserves or enhances the consumers’ and society’s well-being.”
When schematically presented, the considerations in setting the marketing policies under two marketing concepts appear as: