Which statement best describes marketing?
Correct answer: D. Creating, communicating, delivering and exchanging value
- A. Selling products to customers at a profit
- B. Advertising products through different media channels
- C. Producing goods at the lowest possible cost
- D. Creating, communicating, delivering and exchanging value
Explanation
Marketing involves identifying needs and creating, communicating, delivering and exchanging value to satisfy them. Selling and advertising are important activities, but they are only parts of the broader marketing process.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Marketing Basics
Marketing begins with identifying customer needs and ends with creating, communicating and delivering value through exchange. Coverage includes market research, consumer behaviour, segmentation, targeting, positioning and the marketing mix of product, price, place and promotion, with marketing distinguished from selling and advertising.
Practise Marketing Basics
29 free Marketing Basics MCQs from Introduction to Business, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Introduction to Business questions like this
Introduction to Business is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.