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Question : Statement 1: Marketing concept emphasizes delivering customer value and building customer relationships.

Statement 2: Production concept focuses on generating short-term profits through mass production.

 

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.

Team Careers360 18th Jan, 2024

Correct Answer: Both statements are correct.


Solution : The correct answer is (a) Both statements are correct.

Statement 1 is correct. The marketing concept indeed emphasizes delivering customer value and building customer relationships. It involves understanding customer needs and preferences, creating products or services that satisfy those needs, and building

15 Views

Question : Case Study:

XYZ Automobiles focuses on understanding customer needs and preferences to design their marketing strategies. They aim to deliver superior value to their customers. Which feature of marketing does XYZ Automobiles emphasize?

 

Option 1: Cost Minimization

 

Option 2: Production Efficiency

Option 3: Mass Marketing

Option 4: Customer Satisfaction

Team Careers360 18th Jan, 2024

Correct Answer: Customer Satisfaction


Solution : The correct answer is  (d) Customer Satisfaction

By focusing on understanding customer needs and preferences and aiming to deliver superior value, XYZ Automobiles is placing a strong emphasis on ensuring that their customers are satisfied. This approach is customer-centric and aligns with the goal

7 Views

Question : Case Study:

A company believes that products should be widely available and affordable to attract customers. They prioritize production efficiency and distribution effectiveness. This philosophy reflects the:

 

Option 1: Marketing Concept

Option 2: Societal Marketing Concept

Option 3: Production Concept

Option 4: Product Concept

Team Careers360 19th Jan, 2024

Correct Answer: Production Concept


Solution : The correct answer is (c) Production Concept.

The Production Concept is a marketing philosophy that emphasizes producing high-quality products at the lowest possible cost and making them widely available to customers. The primary focus is on production efficiency, streamlining operations, and reducing production costs

12 Views

Question : Which of the following could be classified under the top level of management?
 

Option 1: Production manager

Option 2:  Foreman

 

Option 3: Production supervisors 
 

Option 4: CEO (chief executive officer) 

 

Team Careers360 21st Jan, 2024

Correct Answer: CEO (chief executive officer) 

 


Solution : Top-level management consists of the most senior executives of the organization. For example chief finance officer, chief executive officer, president, vice president, etc.

Hence, Option D is correct.

32 Views

Question : What is the formula of the Operating ratio choose the correct option:
(A)Cost of revenue from operations + Selling Expenses/Net revenue from operations
(B) Cost of production + Operating Expenses/Net revenue from operations
(C) Cost of revenue from operations + Operating Expenses/Net Revenue from Operations 

Option 1: Option A

Option 2: Option B

Option 3: Option C

Option 4: None of them

Team Careers360 19th Jan, 2024

Correct Answer: Option C


Solution : Operating Ratio =(Cost of revenue from operations + Operating Expenses) / Net Revenue from Operations
By comparing a company's total operating expense to net revenues, the operational ratio demonstrates the management effectiveness of that business.
Hence option 3 is the correct answer.

9 Views

Question : Case Study:

A company is committed to meeting customer needs and delivering superior value. They emphasize building strong customer relationships and understanding market trends. This philosophy aligns with the:

 

Option 1: Product Concept

Option 2: Production Concept

Option 3: Selling Concept

Option 4: Marketing Concept

Team Careers360 22nd Jan, 2024

Correct Answer: Marketing Concept


Solution : The correct answer is (d) Marketing Concept.

The Marketing Concept is a customer-centric approach that focuses on understanding and fulfilling customer needs and wants effectively. It involves delivering superior value to customers to achieve customer satisfaction and build strong, long-term customer relationships. Additionally, understanding

13 Views

Question : Case Study:

A company believes that products should be widely available and affordable to attract customers. They prioritize production efficiency and distribution effectiveness. This philosophy reflects the:

 

Option 1: Marketing Concept

Option 2: Societal Marketing Concept

Option 3: Production Concept

Option 4: Product Concept

Team Careers360 21st Jan, 2024

Correct Answer: Production Concept


Solution : The correct answer is (c) Production Concept.

The Production Concept is a marketing philosophy that emphasizes producing high-quality products at the lowest possible cost and making them widely available to customers. The primary focus is on production efficiency, streamlining operations, and reducing production costs

9 Views

Question : Case Study:

A company believes that consumers are more likely to buy products that are widely available and affordable. They aim to achieve high production efficiency and wide distribution. This philosophy aligns with the:

 

Option 1: Societal Marketing Concept

Option 2: Product Concept

Option 3: Marketing Concept

Option 4: Production Concept

Team Careers360 19th Jan, 2024

Correct Answer: Production Concept


Solution : The correct answer is (d) Production Concept.

The Production Concept is a marketing philosophy that emphasizes producing high-quality products at the lowest possible cost and making them widely available to consumers. The primary focus is on production efficiency, streamlining operations, and reducing production costs

176 Views

Question : During the year 1991-92, the industrial production recorded a ___________ growth of __________.

Option 1: negative; 1.1%

Option 2: positive; 0.6%

Option 3: positive; 1.1%

Option 4: negative; 0.9%

Team Careers360 21st Jan, 2024

Correct Answer: positive; 0.6%


Solution : The correct answer is positive; 0.6%.

During the years 1991–92, industrial production recorded a positive growth of 0.6%. The New Industrial Policy of 1991 was implemented to liberate the industry from the shackles of the licensing system. The aim was to increase the

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