The following statements relate to marketing:
Statement I : "For any business enterprise there are two and only two basic functions : marketing and innovation. These two produce results; all the rest are costs.”
Statement II : "The product concept of marketing holds that business can be managed by maximisation of production and the resultant lower unit cost and low price.”
Which of the following options is correct?
1
Statement I is correct, but II is incorrect
2
Statement II is correct, but I is incorrect
3
Both the statements I and II are correct
4
Both the statements I and II are incorrect