Final answer:
Providing marketing information is important in business for determining pricing, product naming, and understanding target markets. Full information in markets is necessary for equilibrium and avoiding poor decisions. Information helps in making economic decisions based on scarce resources.
Step-by-step explanation:
Providing marketing information is an important channel activity in business. Businesses rely on marketing information to determine how much to charge for their products, to name their products, and to understand their target markets' needs and wants.
In a market, for sellers and buyers to reach equilibrium, they must have full information about the product's price and quality. Limited information may lead to difficulties in transacting and making poor decisions.
Furthermore, information plays a crucial role in economics, helping individuals and organizations make decisions based on scarce resources.