The following passage is excerpted from the book 'MARKETING':

'The success of your business depends on the success of your marketing efforts. If you can identify what customers want, need and can afford- and give it to them- you will achieve outstanding results.'

— Marketing by Brian Tracy

Based on the information provided in the passage, which of the following statement describes Marketing-

1. Marketing is beneficial for both buyers and sellers.
2. Marketing focuses on short term maximisation of profit.
3. Marketing works on the principle of Caveat emptor.
4. Marketing begins after the goods are produced.

Marketing is beneficial for both buyers and sellers.

Reason — The passage highlights that successful marketing identifies and satisfies what customers want, need and can afford, while also helping the business achieve outstanding results. This means buyers get satisfaction of their wants and sellers achieve business success — making marketing mutually beneficial for both parties.