Correct Answer: Agricultural produce and commodities

Solution : The correct answer is (d) Agricultural produce and commodities.

NAFED is a cooperative organization established with the objective of promoting agricultural marketing and cooperative processing of agricultural produce. It plays a crucial role in the procurement, marketing, and distribution of various agricultural commodities produced by farmers.

The key activities of NAFED include:

1. Procurement: NAFED procures agricultural produce such as grains, oilseeds, pulses, spices, fruits, and vegetables directly from farmers and cooperative societies.

2. Storage and Warehousing: NAFED provides storage and warehousing facilities for the agricultural produce procured, ensuring proper preservation and quality maintenance.

3. Marketing: NAFED undertakes the marketing of agricultural commodities by selling them in domestic and international markets. It ensures fair prices for farmers and provides market access for their produce.

4. Price Stabilization: NAFED works towards stabilizing the prices of agricultural commodities by undertaking market intervention measures such as buffer stocking and supply management.

5. Export Promotion: NAFED facilitates the export of agricultural commodities by coordinating with exporters, providing quality certification, and ensuring adherence to international standards.

NAFED acts as a platform that connects farmers with markets and aims to protect their interests by providing them with fair prices and market access for their produce. It plays a significant role in the marketing and distribution of agricultural commodities in India.

Correct Answer: Gathering and analysing market information

Solution : One of the important functions of marketer is to collect and analyse market information. It is important to analyse available opportunities and threats as well as strength and weaknesses of the organisation. It helps in deciding what opportunities can be pursued by it.

Hence, option A is correct.

Correct Answer: Unity of command
 

Solution : Unity of command is being violated here. It involves each subordinate should receive orders from only one superior. The subordinate is accountable to his single Boss only.
Hence Option B is correct.

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.

Hello,

First of all, no need to worry. It's common to not know what you want to do. However, It's great you have interest in marketing which opens up an option for you pursue something in your interested field.

PGDM is a management course that covers various aspects of business, including marketing. It can provide you with a broad understanding of management principles and skills which can be beneficial for a career in marketing.

However, CFA is a certification for finance professionals. It focused more on financial management and analysis, investment management, etc. I will recommend you to pursue this only if you have interest in finance.

From my recommendation, you should go for PGDM as it will open up career opportunities in your field of interest.

I hope this helps,

Thank you

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 fulfilling customer needs and wants effectively. It involves delivering superior value to customers to achieve customer satisfaction and build strong, long-term customer relationships. The ultimate goal is to meet customer needs and achieve business objectives by creating value and satisfying customers through a customer-oriented approach. This philosophy emphasizes understanding customers and delivering value to them as the key to success.

Correct Answer: Statement 1 is correct, and statement 2 is false.

Solution : The correct answer is (b).

Statement 1 is correct. The societal marketing concept is a marketing philosophy that aligns business goals with societal well-being. It recognizes that businesses have a responsibility to society and that they should operate in a sustainable and ethical manner.

Statement 2 is false. Marketing management philosophies have a significant influence on business practices. Businesses that adopt a societal marketing philosophy are more likely to develop products and services that are beneficial to society, to operate in a sustainable manner, and to engage in ethical marketing practices.

Correct Answer: Product Concept

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

The Product Concept is a marketing philosophy that centers on creating high-quality products with distinctive features, attributes, and benefits. The primary emphasis is on the product itself, striving to offer features and benefits that differentiate the product from competitors and meet or exceed customer expectations. The goal is to provide a product that customers perceive as exceptional and desirable, positioning it as the best choice in the market.

Correct Answer: Societal Marketing Concept

Solution : The correct answer is (b) Societal Marketing Concept.

The Societal Marketing Concept is a marketing philosophy that extends the principles of the Marketing Concept to include a focus on the long-term well-being of both customers and society as a whole. It emphasizes delivering value to customers while also addressing broader social and environmental concerns. This approach aims to balance the company's objectives with the well-being of the community and environment, seeking to create a positive impact through marketing activities, which aligns with the company's commitment to environmental sustainability and ethical business practices.

Correct Answer: All of the above

Solution : Following are the steps of organising process:
1. Identifying and dividing the work into manageable activities,
2. Departmentalisation/Departmentation,
3. Assignment of duties to job positions, and
4. Establishing reporting relationships.
Hence, the correct option is 4.