Question : Assertion: The concept of marketing considers profit maximization as its primary goal.
Reason: The concept of marketing is solely concerned with product development.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Assertion is true, but the reason is false.
Solution : The correct answer is (c) Assertion is true, but the reason is false.
The assertion is true. The concept of marketing does consider profit maximization as one of its goals. Generating revenue and maximizing profits are important objectives in marketing, but they are not the sole focus.
The reason is false. The concept of marketing is not solely concerned with product development. Marketing encompasses a wide range of activities, including market research, customer analysis, pricing strategies, promotion, distribution, and more. Product development is just one aspect of marketing.
In summary, the assertion is true (marketing considers profit maximization as a goal), but the reason is false (marketing is not solely concerned with product development).
Question : Assertion: The societal marketing concept considers both customer needs and society's well-being.
Reason: The societal marketing concept solely focuses on immediate profit generation.
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