Question

What is one of the core aspects of marketing?

A. Marketing only affects the company and the consumer.
B. Marketing creates value through product, price, and planning.
C. Marketing is an offshoot of distribution.
D. Marketing is about the customer satisfying the sales efforts of the company.
E. Marketing can be performed by individuals and organizations.

Answer 1

One of the fundamental aspects of marketing is that it creates value through various aspects such as product, price, and planning, and it is instrumental in differentiating a company's products from those of its competitors.

Step-by-step explanation:

One of the core aspects of marketing is that it creates value through product, price, and planning. This is option B, which underscores the fundamental role of marketing in generating value for both the company and the consumer. Marketing is closely related to advertising, which is a tool used to communicate the differentiation of products and influence the perceived demand curve.

Successful advertising can make a demand curve more inelastic or cause it to shift to the right, leading to increased sales or higher prices. Additionally, marketing and advertising are affected by the interconnected shifts of technology and globalization, which have expanded the reach of businesses and intensified competition in various markets.