Given below are two statements:
Statement I: Marketing is concerned with the exchange of goods from producers to consumers in a way that maximises the satisfaction of customers’ needs.
Statement II: Identification of customer needs is a marketing activity that is performed before the actual production of goods begins.
In the light of the above statements, choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Both Statement I and Statement II are correct.
Statement I: Marketing is concerned with the exchange of goods from producers to consumers in a way that maximises the satisfaction of customers’ needs. — True. Marketing is concerned with the exchange of goods and services from producers to consumers in a way that maximises the satisfaction of customers’ needs.
Statement II: Identification of customer needs is a marketing activity that is performed before the actual production of goods begins. — True. Marketing is not merely a post-production activity. Identifying customer needs is done before the actual production begins, along with designing the package and choosing a brand name.
NCERT (2026-27 Edition): “…It may be noted here that marketing is not merely a post-production activity. It includes many activities that are performed even before goods are actually produced, and continue even after the goods have been sold. For example, activities such as identification of customer needs, collection of information for developing the product, designing suitable product package and giving it a brand name are performed before commencement of the actual production. Similarly, many follow up activities are required for maintaining good customer relations for procuring repeat sale. …” “Functions Of Marketing Marketing is concerned with exchange of goods and services from producers to consumers or users in such a way that maximises the satisfaction of customers’ needs. …” |