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Marketing Management

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Question : Which function of marketing is highlighted in the given statement?
Statement: It is an important feature of the product as labels provide detailed information about the product its contents method of use,etc
 

Option 1: Gathering and analysing market information
 

Option 2: Product designing and development
 

Option 3: Packaging and labelling
 

Option 4: Branding

Team Careers360 18th Jan, 2024

Correct Answer: Packaging and labelling
 


Solution : Packaging refers to designing and developing the package for the products. Labelling refers to designing and developing the label to be put on the package. Labelling is an important feature of a blood has labels provide detail information of the product its contents method of use etc.

Hence, option C is correct.

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 of providing products and services that meet or exceed customer expectations, ultimately leading to high levels of customer satisfaction. Cost minimization, production efficiency, and mass marketing may also be important considerations, but in this scenario, customer satisfaction is the highlighted feature.

14 Views

Question : Assertion: Marketing management focuses on delivering customer value and satisfaction.

Reason: Marketing management is solely about increasing sales volume.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Team Careers360 25th Jan, 2024

Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.


Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. Marketing management does indeed focus on delivering customer value and satisfaction. It involves understanding customer needs and preferences, developing products or services that meet those needs, and delivering value to customers to satisfy them and build long-term relationships.

The reason is not the correct explanation. The reason incorrectly states that marketing management is solely about increasing sales volume. While increasing sales volume is a goal of marketing management, it's not the sole focus. The primary focus is on understanding and meeting customer needs and delivering value, which naturally leads to increased sales volume through customer satisfaction and loyalty.

In summary, both the assertion and reason are true, but the reason is not the correct explanation of the assertion.

7 Views

Question : Assertion: The societal marketing concept is solely focused on maximizing shareholder wealth.

Reason: The societal marketing concept integrates social responsibility into the company's business strategy.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Team Careers360 19th Jan, 2024

Correct Answer: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.


Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. The societal marketing concept is not solely focused on maximizing shareholder wealth. It goes beyond profit-making and includes considerations for societal well-being and social responsibility.

The reason is true. The societal marketing concept does indeed integrate social responsibility into the company's business strategy. It emphasizes the importance of considering the broader societal interests and responsibilities alongside the organization's objectives.

In summary, both the assertion and reason are true, but the reason is not the correct explanation of the assertion. The societal marketing concept is about balancing both societal welfare and organizational goals, not exclusively focusing on maximizing shareholder wealth.

7 Views

Question : Assertion: Marketing management aims to create and maintain profitable customer relationships.

Reason: Marketing management is exclusively focused on advertising and promotion.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Team Careers360 22nd Jan, 2024

Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.


Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. Marketing management does aim to create and maintain profitable customer relationships. It involves various activities like market research, product development, pricing strategies, distribution, advertising, promotion, and more, all with the goal of building and sustaining relationships with customers to drive profitability.

The reason is not the correct explanation. The reason incorrectly states that marketing management is exclusively focused on advertising and promotion. While advertising and promotion are important components of marketing management, they are not the exclusive focus. Marketing management involves a broader spectrum of activities beyond advertising and promotion to create and maintain customer relationships.

In summary, both the assertion and reason are true, but the reason does not correctly explain the assertion.

7 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 to ensure that products are affordable and readily accessible to customers. This approach assumes that customers will favor products that are easily available and affordable, placing the emphasis on the production and distribution aspects of the business.

 

11 Views

Question : Assertion: Marketing management aims to create and maintain profitable customer relationships.

Reason: Marketing management is exclusively focused on advertising and promotion.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Team Careers360 15th Jan, 2024

Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.


Solution : The correct answer is (b) Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

The assertion is true. Marketing management does aim to create and maintain profitable customer relationships. It involves various activities like market research, product development, pricing strategies, distribution, advertising, promotion, and more, all with the goal of building and sustaining relationships with customers to drive profitability.

The reason is not the correct explanation. The reason incorrectly states that marketing management is exclusively focused on advertising and promotion. While advertising and promotion are important components of marketing management, they are not the exclusive focus. Marketing management involves a broader spectrum of activities beyond advertising and promotion to create and maintain customer relationships.

In summary, both the assertion and reason are true, but the reason does not correctly explain the assertion.

14 Views

Question : Assertion: Marketing management is the application of various marketing techniques and principles.

Reason: Marketing management is solely concerned with production processes.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Team Careers360 16th Jan, 2024

Correct Answer: Assertion is true, but the reason is false.


Solution : The correct answer is (c) Assertion is true, but the reason is false.

The assertion is true. Marketing management involves the application of various marketing techniques and principles. It encompasses planning, organizing, implementing, and controlling marketing activities to meet organizational goals.

The reason is false. Marketing management is not solely concerned with production processes. It involves a wide range of activities related to marketing strategy, market research, product development, pricing, promotion, distribution, and customer relationship management. Production processes are a part of operations management, which is distinct from marketing management.

In summary, the assertion is true, but the reason provided is false as it inaccurately represents the scope and focus of marketing management.

24 Views

Question : It reduces the need for inspection testing and evaluation of the product. Which function of marketing is highlighted in the given statement?

Option 1: Marketing planning

Option 2: Customer support services

Option 3: Packaging and labelling

Option 4: Standardization and grading

 

Team Careers360 15th Jan, 2024

Correct Answer: Standardization and grading

 


Solution : Standardization provides the assurance about quality,price and packaging of the product and reduces the need for inspection,testing and evaluation.

Hence, option D is correct.

12 Views

Question : Case Study 14:

ABC Ltd. is a startup in the e-commerce industry looking to expand its product offerings.

Question : 

To raise short-term funds for marketing its expanded product range, which money market instrument might ABC Ltd. use?

Option 1: Debenture
 

Option 2: Call money
 

Option 3: Corporate bond

 

Option 4: Equity share

Team Careers360 16th Jan, 2024

Correct Answer: Call money
 


Solution : The correct answer is (b) Call money

To raise short-term funds for marketing its expanded product range, ABC Ltd. might consider using call money. Call money is a short-term finance option borrowed or lent in the interbank market for very short durations, usually overnight. It's often used for short-term funding needs and would be suitable for supporting marketing initiatives for the newly expanded product offerings.

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