Question

Select the characteristic features of marketing from the following.
A. Marketing is a management process.
B. Marketing offers and exchanges ideas, goods or services.
C. Marketing involves raising the pricing irrespective of the customer's demand.
D. Marketing is not anticipating customer's requirements.
Choose the correct answer from the options given below:

• A. A and D only
• B. A and B only
• C. A, B and C
• D. B, C and D only

Hint:

Modern marketing is all about the customer. Any statement that suggests ignoring customer needs or demand (like C and D) is almost certainly a false description of marketing principles.

Answer 1

The Correct Option is B

Step 1: Assess each statement based on the definition of marketing. Step 1:

(A) Marketing is a management process. True. Marketing encompasses planning, execution, and control of strategies to meet organizational objectives.
(B) Marketing offers and exchanges ideas, goods or services. True. Marketing fundamentally involves the exchange of value.
(C) Marketing involves raising the pricing irrespective of the customer's demand. False. Pricing must consider demand, value, cost, and competition.
(D) Marketing is not anticipating customer's requirements. False. Modern marketing prioritizes understanding and satisfying customer needs.
Step 2: Determine the accurate statements.
Step 2: Statements A and B accurately describe marketing. Statements C and D are inaccurate.
Step 3: Select the option with the correct combination.
Step 3: The correct option includes only A and B.