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.

Correct Answer: Customer support service 

Solution : In the highly competitive world very important function of the marketing management leads to customer support services like after sales services, handling customer complaints, providing credit facilities, maintenance services and technical services.

Hence, option C is correct.

Correct Answer: Diversify its product portfolio
  

Solution : The correct answer is (b) Diversify its product portfolio

Entrepreneurship development involves fostering innovation, creating new products or services, and adapting to changing market demands. XYZ Electronics demonstrated entrepreneurship development by investing in research and development to create cutting-edge smart gadgets, diversifying its product portfolio to meet evolving consumer preferences.

Correct Answer: Physical distribution 

 

Solution : The function of marketing involves deciding the distribution of goods and services from place of production to place of consumption. The important decision areas under physical distribution include managing inventory storage and warehousing and transportation of goods from one place to other.

Hence, option A is correct.

Correct Answer: Commercial paper

Solution : The correct answer is (d) Commercial paper

Commercial paper is a short-term debt instrument issued by corporations, typically with maturities ranging from a few days to a year. It is a common choice for businesses seeking short-term funds to finance various operational needs, including marketing initiatives in international markets. Commercial paper provides a cost-effective and efficient way to raise capital for short-term activities, making it suitable for funding marketing efforts in this context.

Correct Answer: Marketing Concept

Solution : The correct answer is  (c) Marketing Concept

The marketing concept focuses on understanding and meeting customers' needs and preferences by analyzing market trends and implementing innovative marketing strategies. It is customer-centric and aims to deliver superior value to customers in order to achieve the organization's goals and objectives.

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.

Correct Answer: Only i and ii

Solution : The correct answer is Only i and ii.

NAFED stands for the National Agriculture Cooperative Marketing Federation of India. It was established in October of 1958. It is registered under the Multi-State Co-operative Societies Act, and it was set up to promote cooperative marketing of agricultural produce to benefit farmers.

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.

Correct Answer: Marketing Concept

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

The Marketing Concept is a customer-centric philosophy that focuses on understanding and meeting customer needs and wants. It involves delivering superior value to customers to achieve customer satisfaction and, in turn, gain long-term customer loyalty. This approach aims to create a strong customer orientation throughout the organization, where the primary goal is to provide products or services that address customer needs and preferences effectively, ultimately leading to business success.