Write a short note on Social Marketing stage.

The Social (Societal) Marketing stage began around 1980 and continues till the present. With growing population, poverty, pollution and resource shortages, the marketing concept was expanded to include social welfare. Under this concept:

1. Firms are expected to ascertain the needs, wants and interests of target markets and deliver desired satisfactions more effectively and efficiently than competitors.
2. Marketing must be done in a way that preserves or enhances the well-being of not only the consumers but also of the society as a whole.
3. Marketers must build social and ethical considerations into their marketing practices.
4. They must balance company profits, consumer satisfaction and public interest.