Question : Comprehension:
Read the given passage and answer the questions that follow.

What if globally designed products could radically change how we work, produce and consume? Several examples across continents show the way we are producing and consuming goods could be improved by relying on globally shared digital resources, such as design, knowledge and software.
Imagine a prosthetic hand designed by geographically dispersed communities of scientists, designers and enthusiasts in a collaborative manner via the web. All knowledge and software related to the hand is shared globally as a digital commons. People from all over the world who are connected online and have access to local manufacturing machines (from 3D printing and CNC machines to low-tech crafts and tools) can, ideally with the help of an expert, manufacture a customized hand. This is the case of the Open Bionics project, which produces designs for robotic and bionic devices.
There are no patent costs to pay for. Less transportation of materials is needed since a considerable part of the manufacturing takes place locally; maintenance is easier, products are designed to last as long as possible, and costs are thus much lower.

Question:
Select the most suitable word from the passage which means ‘scattered’.

Option 1: collaborative

Option 2: shared

Option 3: customised

Option 4: dispersed

Question : Case Study:

XYZ Footwear focuses on the various attributes of their shoes, such as design, comfort, and durability. They emphasize the tangible features of their products. What aspect of marketing is highlighted in this case?

Option 1: Place

Option 2: Promotion

Option 3: Product

Option 4: Price

Question : _________ is a market where economic agents can freely exchange their endowments with each other.

Option 1: Market economy

Option 2: Centrally planned economy

Option 3: Aggregate demand based economy

Option 4: Aggregate supply based economy

Question : Case Study:

FreshTech Electronics releases an ad showcasing its new smartphone, highlighting its advanced features and design. Some customers, however, feel that the ad lacks innovation and is repetitive. What objection to advertising is presented here?

Option 1: Lack of Appeal

Option 2: Lack of Credibility

Option 3: Lack of Creativity

Option 4: Exaggeration and Deception

Question : Statement 1: Marketing concept emphasizes building customer relationships through value creation.

Statement 2: Selling concept focuses on understanding customer needs to design better products.

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is incorrect.

Question : Which function of marketing is highlighted in the given statement?
Statement: It involves taking decisions regarding features, design, shape, size appearance, etc., about the product.

Option 1: Gathering and analysing market information

Option 2: Product designing and development

Option 3: Packaging and labelling

Option 4: Branding

Question : Which of the following statement is correct?
Statement 1: Grading refers to determining of standard regarding size quality design weight in respect of a particular product.
Statement 2: Standardization refers to ensure uniformity and consistency in output reducing the need for inspection testing and evolution of the products.
 

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Question : Case Study:

XYZ Footwear focuses on the various attributes of their shoes, such as design, comfort, and durability. They emphasize the tangible features of their products. What aspect of marketing is highlighted in this case?

Option 1: Place

Option 2: Promotion

Option 3: Product

Option 4: Price

Question : Correct the following sentence.

The standard person’s conception of systematic method is necessarily faulty in so far as it assumes that hypothesis develops by design from comments of usual events; which are fundamentally unchanged by the preconceptions of the observers.

Option 1: No Change

Option 2: events, which are

Option 3: events, themselves

Option 4: events, these are being changed

Option 5: none of the above