Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. The societal marketing concept indeed considers the well-being of society along with customer satisfaction. It advocates for marketing practices that benefit both customers and society as a whole, beyond just satisfying immediate customer needs.

The reason is true but not the correct explanation: The reason incorrectly states that the societal marketing concept solely focuses on maximizing shareholder value. In reality, the societal marketing concept focuses on the welfare of society (including customers) and the environment, in addition to fulfilling the organization's objectives. It's about a broader responsibility to stakeholders and not solely about maximizing shareholder value.