Which of the following is part of the role of marketing for a business?

• A. Preparing financial statements
• B. Identifying customer needs and wants
• C. Auditing internal controls
• D. Calculating depreciation expense

Answer: (B)

Verified step by step guidance

1. Understand the role of marketing in a business. Marketing focuses on activities that help the business connect with its customers, such as identifying customer needs and wants, promoting products or services, and building customer relationships.
2. Review the options provided in the question. The options include tasks that are typically associated with other business functions, such as accounting and auditing, which are not part of marketing.
3. Eliminate options that are unrelated to marketing. For example, preparing financial statements and calculating depreciation expense are tasks performed by the accounting department, while auditing internal controls is part of the auditing function.
4. Focus on the option that aligns with marketing's primary role. Identifying customer needs and wants is a core responsibility of marketing, as it helps the business design products and services that meet customer expectations.
5. Conclude that the correct answer is 'Identifying customer needs and wants,' as it directly relates to the role of marketing in a business.