How does NAFTrack define marketing?

NAFTrack defines marketing as "the process of promoting, selling, and distributing a product or service." This definition encompasses the essential aspects of marketing, which revolve around creating awareness of a product or service, facilitating its sales, and ensuring it reaches the intended consumers effectively.

Promoting involves strategies such as advertising and public relations, which are crucial for drawing attention to a product. Selling refers to the actual transaction where consumers decide to purchase the item, while distributing ensures that the product is available in the right locations at the right times for potential customers. Together, these components reflect the comprehensive nature of marketing and its importance in driving a business's success.

The other options, while related to business operations and functions, do not capture the full scope of marketing as defined by NAFTrack. Economic analysis and consumer behavior, for instance, are important for understanding the market but are just a part of the wider marketing strategy. Similarly, minimizing product costs is crucial for profitability, but it does not reflect the primary activities associated with marketing. Techniques for managing public relations can enhance a company's image, but public relations is just one aspect of the overall marketing process. Thus, option C effectively encapsulates the essence of what marketing entails according to NAFTrack.