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

(A) Marketing is a management process. True. Marketing involves planning, executing, and controlling strategies to achieve organizational goals.
(B) Marketing offers and exchanges ideas, goods or services. True. The core of marketing is the exchange of value between a provider and a customer.
(C) Marketing involves raising the pricing irrespective of the customer's demand. False. Pricing is a key part of marketing, but it must consider demand, value, cost, and competition. Arbitrarily raising prices is not a sound marketing strategy.
(D) Marketing is not anticipating customer's requirements. False. This is the opposite of the truth. A central tenet of modern marketing is to understand, anticipate, and satisfy customer needs and wants.
Step 2: Identify the correct statements.
Step 2: Statements A and B are correct descriptions of marketing. Statements C and D are incorrect.
Step 3: Choose the option with the correct combination.
Step 3: The correct option is the one that includes only A and B.