Which statement best describes marketing?
Correct answer: B. Creating, communicating, delivering and exchanging value
- A. Selling products to customers at a profit
- B. Creating, communicating, delivering and exchanging value
- C. Producing goods at the lowest possible cost
- D. Advertising products through different media channels
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.
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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.
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