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• The concept enlarges the marketing concept by asserting that organizations should determine customers' needs and wants and then deliver superior value to the target market in a way that improves customers' and society's well-being.
• The concept represents an endorsement and justification for the social responsibility of business
• It takes into account the need for organizations to act responsibly not only towards their customers, but also towards the environment and other needs of society.
• It requires that an organization thinks about the long-run interests of society in satisfying consumers while meeting organizational objectives i.e . organizations have to balance consumer satisfaction, company profits and long term welfare of society.
Lellah answered the question on November 3, 2021 at 10:13
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