Question 1 · 1 mark · Difficulty 1/3
What is the MOST accurate definition of marketing?
- Advertising products on television and radio
- Setting prices for goods and services
- The process of selling goods to customers
- Identifying, anticipating, and satisfying customer needs profitably
Show answer & explanation
✓ Answer: D — Identifying, anticipating, and satisfying customer needs profitably
Award 1 mark for identifying marketing as the process of identifying, anticipating, and satisfying customer needs profitably. C is incorrect — selling is only one component of marketing. A is incorrect — advertising is part of promotion, which is just one element of the marketing mix. B is incorrect — pricing is only one aspect of the marketing mix.