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.

Production-Oriented-Stage was characterised by:

1. The focus on Sales Promotion.
2. Product improvement.
3. Supply creating its own demand.
4. Profits through customer satisfaction.

In which stage of marketing, manufacturers believed that customers would buy the product if quality was good?

1. Marketing-oriented stage
2. Production-oriented stage
3. Sales-oriented stage
4. Product-oriented stage

In which stage, importance to consumer satisfaction was recognised and business policies were designed to provide value satisfaction to customers?

1. Sales-oriented stage
2. Marketing-oriented stage
3. Social-marketing stage
4. Consumer-oriented stage