Philip Kotler defined marketing as a social process by which groups obtain what they need through:
AProducing at large scale
BExchanging products of value
CReceiving charity donations
DPassing legislation
Answer & Solution
Correct answer: B. Exchanging products of value
1. People create offerings and freely exchange them.
2. Exchange of value is at the core.
3. It is a social process, not just selling.
_Source: NCERT Class 12 Business Studies Part II, Chapter 11, Marketing._
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