Question

The marketing concept states that the social and economic justification for an organization’s existence is the satisfaction of customers’ wants and needs while meeting organizational objectives. True or False

Answer 1

True

Step-by-step explanation:

The satisfaction of customer is the key need of survival for any business.

As the customer satisfaction will result into good branding, economic support and vital performance booster for the organisation.

Customer satisfaction ensures that the organization is socially and economically viable, and equally capable of running business with the perspective of growth.

Thus the above stated statement is

True