Correct Answer: Customer Orientation

Solution : The correct answer is (b) Customer Orientation

FreshFoods Inc. believes in delivering customer value and satisfaction through its products and services, indicating a focus on meeting the needs and preferences of their customers. Customer orientation is a fundamental aspect of marketing, where businesses prioritize understanding and fulfilling customer needs to ensure their satisfaction and provide value to them. Profit maximization, production efficiency, and financial analysis are important aspects of business operations but are not specifically focused on meeting customer needs and ensuring their satisfaction as customer orientation is.

Correct Answer: To fund its expansion plans and meet capital requirements

Solution : The correct answer is (d) To fund its expansion plans and meet capital requirements

Expanding operations in a business often requires substantial capital investment for various purposes, such as acquiring new assets, increasing production capacity, entering new markets, hiring additional staff, and covering increased operational expenses. Business finance is essential to provide the necessary funding to support these expansion initiatives and ensure the company's growth and sustainability in the market.

Correct Answer: Enhanced Consumer Trust

Solution : The correct answer is (b) Enhanced Consumer Trust. 

By investing in building a strong brand for their products, XYZ Electronics has created a positive image and reputation in the minds of consumers. This leads to enhanced consumer trust, as consumers are more likely to trust and be loyal to a brand they recognize and perceive as valuable. A strong brand also signifies consistent quality and reliability, further contributing to consumer trust and loyalty. Increased production efficiency, lower product costs, and reduced marketing expenses are potential benefits of effective branding but are not explicitly demonstrated in this case.

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 is all about understanding customer needs and wants and striving to fulfill them to achieve customer satisfaction.

Statement 2 is incorrect. The production concept emphasizes efficient and large-scale production to reduce costs and, in turn, provide products at lower prices to consumers. However, it doesn't focus solely on short-term profits; rather, it emphasizes efficiency in production processes.

Correct Answer: Gathering and analysing marketing information
 

Solution : One of the most important functions of a marketer is to collect and analyse market information. This is necessary to identify the needs of the customers and take various decision for the successful marketing of the product and services.

Hence, option C is correct.
 

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 is all about understanding customer needs and wants and striving to fulfill them to achieve customer satisfaction.

Statement 2 is incorrect. The production concept emphasizes efficient and large-scale production to reduce costs and, in turn, provide products at lower prices to consumers. However, it doesn't focus solely on short-term profits; rather, it emphasizes efficiency in production processes.

Correct Answer: Selling Concept

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

The Selling Concept is a marketing philosophy that emphasizes aggressive sales techniques and promotional efforts to convince customers to buy a company's products or services. The belief underlying this concept is that customers typically won't buy enough on their own, so a company must use various selling and promotional tactics to stimulate demand and close sales. It's a more product-focused approach, and the primary goal is to sell what the company produces rather than understanding and meeting customer needs, which is a central focus of the Marketing Concept.

Correct Answer: Method analysis

Solution : The correct answer is (c) Method analysis

Method analysis, a technique in scientific management, involves analyzing and simplifying work processes to improve efficiency. It focuses on studying the various steps involved in a task or process to identify unnecessary or time-consuming actions. The aim is to optimize the sequence of steps, eliminate wasteful activities, and streamline the workflow to enhance productivity and efficiency. ABC Pharmaceuticals adopting method analysis aligns with their goal of improving efficiency by analyzing and optimizing their production processes.

Correct Answer: Product Concept

Solution : The correct answer is (c) Product Concept

ABC Appliances focuses on continuous product innovation and improvement, emphasizing the development and enhancement of their products to meet the unique needs and preferences of their customers. The product concept is centered around creating high-quality, innovative, and unique products that consumers will find appealing and valuable. It's about delivering superior products and features to attract and satisfy customers, which aligns with the approach taken by ABC Appliances as described.

Correct Answer: has had

Solution : The second option is correct.

• The sentence is in the present perfect tense, which uses the auxiliary verb has or have and the past participle V3 form of the main verb.
• Structure: Subject + has/have + V3 + Object
• Nigeria is a singular subject, so it needs the singular form of the verb "has".
• The phrase "in place since 2015" indicates a duration of time that started in the past and continues to the present.