Question : Identify the importance of business environment highlighted in the below case. Enterprises design policies to arrange the required resources so that it can convert them into desired output.
Option 1: Identify opportunities and getting first mover advantage
Option 2: Identify threads and early warning signals
Option 3: Helps in taping useful resources
Option 4: Helps in coping with rapid changes
Correct Answer: Helps in taping useful resources
Solution : Environment is a source of various resources for running a business. Enterprises design policies to arrange the required resources so that it can convert them into desired output. This can be done better by understanding what the environment has to offer. Hence Option C is correct.
Question :
Early identification of opportunities helps an enterprise to be the first one to exploit it.
Option 1: 1- D, 2-C, 3-B, 4-A
Option 2: 1-B, 2-C, 3-A, 4-D
Option 3: 1-C, 2-D, 3-B, 4-A
Option 4: 1-A, 2-B, 3-C, 4-D
Question : A good design can improve performance of a product and also give it a competitive advantage in the market. Which function of marketing is highlighted in the given statement?
Option 1: Marketing planning
Option 2: Customer support services
Option 3: Product designing and development
Option 4: Storage
Question : Which function of marketing is highlighted in the given statement? Statement: It involves taking decisions regarding features, design, shape, size appearance, etc., about the product.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Branding
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