Question

When considering marketing's place in the economy, what is the most important role the marketing function plays?

A. Bringing products to market.
B. Creating value for customers.
C. Contributing to shareholder wealth.
D. Employing a workforce.

Answer 1

B. Creating value for customers.

Step-by-step explanation:

Marketing is all about building values for customers. Its about creating customer relationships which are profit generating. Any company or brand has a value proposition. It is the set of benefits the company promises to deliver to the consumer to satisfy his/her needs. Thus marketing is the bridge which connects the brand with the customers perceived value of the brand. It makes sure the customer pledges loyalty to the brand, by delivering on its promises on the value proposition. Thus, the most important role that marketing plays in the economy is Creating Value for Customers.