Final answer:
Marketing efforts that are informed by operations can indeed meet customer needs effectively, by promoting feasible products for efficient delivery. Businesses benefit through increased sales and profits, and consumers enjoy a wider selection of affordable goods. Adequate information about product price and quality is vital for market equilibrium, beneficiating the economy as a whole.
Step-by-step explanation:
The statement "Marketing can meet the customer needs if they understand what operations can produce" is true. Marketing teams must be in sync with operations to ensure they are promoting products that can be delivered effectively. In a well-functioning market, businesses strive to offer better or less expensive products to consumers, which in turn can increase their profits. This dynamic benefits not only the businesses but also their employees, who may earn more income as a result. Moreover, when consumers have access to a larger variety of goods at lower prices, their purchasing power and overall satisfaction improve.
To reach market equilibrium, it is essential for sellers and buyers to possess full information about the product's price and quality. A lack of information can lead to inefficient transactions or poor decision-making, which can upset the balance of the market. However, when accurate information is shared, it facilitates better business decisions, leading to increased productivity and offering consumers more value for their money. On balance, the gains from such an informed and efficient market usually outweigh the losses to a nation.