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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.
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
Question : Statement 1: Marketing concept focuses on creating value and building customer loyalty.
Statement 2: Production concept emphasizes understanding customer preferences and needs.
Correct Answer: Statement 1 is correct, and statement 2 is false.
Solution : The correct answer is (b) Statement 1 is correct, and statement 2 is false.
Statement 1 is correct. The marketing concept does indeed focus on creating value for customers and building customer loyalty. It involves understanding customer
Question : Case Study:
A company focuses on understanding and fulfilling customer needs and preferences. They emphasize building long-term customer relationships through value creation. This philosophy reflects the:
Option 1: Selling Concept
Option 2: Production Concept
Option 3: Marketing Concept
Option 4: Product Concept
Correct Answer: Marketing Concept
Solution : The correct answer is (c) Marketing Concept.
The Marketing Concept is a customer-centric approach that centers on understanding and meeting customer needs and wants effectively. It emphasizes building long-term relationships with customers by delivering superior value and customer satisfaction. The primary focus is on
Question : Assertion (A): India ranks first in the world in milk production. Reason (R): Operation Flood led to an increase in milk output in India.
Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Option 3: Assertion (A) is true but Reason (R) is False
Option 4: Assertion (A) is False but Reason (R) is true.
Correct Answer: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Solution : The initiative known as the "White Revolution" was started by Operation Flood. By removing the intermediaries, it established a national milk grid that connected farmers all across India
Question : Which of the following not consist of top level management?
Option 1: President
Option 2: Vice president
Option 3: Chairman
Option 4: Production manager
Correct Answer: Production manager
Solution : Middle level consists of heads of different functional department like department manager ,production manager, etc.Production manager is included in the middle level.
Hence, Option D is correct.
Question : Case Study: XYZ Ltd. - Raising Finance for Expansion
XYZ Ltd. is a growing company that manufactures electronic gadgets. The company has been successful in the market and is planning to expand its operations. To finance this expansion, XYZ Ltd. is considering various sources of business finance.
Questions : Meaning and Need for Business Finance
Which financial decision involves selecting the appropriate sources of funds for a business?
Option 1: Production planning
Option 2: Marketing strategy
Option 3: Financial planning
Option 4: Human resource management
Correct Answer: Financial planning
Solution : The correct answer is (c) Financial planning
Financial planning entails determining the company's financial goals and objectives and devising strategies to achieve them. Selecting the right sources of funds is a crucial aspect of financial planning, as it involves evaluating and choosing the most
Question : Which function of marketing is highlighted in the given statement? Statement: It fills this place by carrying good from place of production to place of consumption.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Transportation
Correct Answer: Transportation
Solution : Transportation implies physical movement of goods from one place to the other. Transportation fills this gap by carrying goods from place of production to place of consumption. Transportation includes decisions like choice of mode of transportation and other related aspects.
Hence, option D is correct.
Question : Which five-year plan in India was mainly focussed on Garibi Hatao, the creation of employment opportunities, and agricultural production amongst other objectives?
Option 1: Fifth
Option 2: Fourth
Option 3: Third
Option 4: Second
Correct Answer: Fifth
Solution : The correct answer is Fifth.
Among other goals, the Fifth Five-Year Plan in India prioritised agricultural production, employment generation and Garibi Hatao. Ending poverty, increasing employment rates and achieving self-reliance were the main objectives of the Fifth Five-Year Plan.
ABC Ltd. believes that customers will favor products that are widely available and affordable. The company focuses on achieving high production efficiency and widespread distribution. This philosophy aligns with which marketing concept?
Option 1: Product Concept
Option 2: Selling Concept
Option 3: Production Concept
Option 4: Marketing Concept
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. It is often suitable in situations where demand exceeds supply, and the primary focus is
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