Question : Which function of marketing is highlighted in the given statement?
Statement: Today companies are using interactive sites on the Internet to gather customer views and opinions before taking important business decisions.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Branding
Correct Answer: Gathering and analysing market information
Solution : One of the important functions of marketer is to collect and analyse market information. With the growth of the computers a new trend as emerged in the collection of market information. More and more companies are using interactive sides on the Internet to gather customer views and opinions before taking important business decisions.
Hence, option A is correct.
Question : Which function of marketing is highlighted in the given statement?
Statement: The need for it rises because there is a time gap between production and consumption of goods.
Option 1: Physical distribution
Option 2: Product designing and development
Option 3: Transportation
Option 4: Storage or warehousing
Correct Answer: Storage or warehousing
Solution : The need for storage and warehousing rises because there is a time gap between production and consumption of goods.This time gap maybe either due to irregular demand or due to irregular supply. The function of storage is performed by different agencies a chese manufacturers, wholesalers and retailers.
Hence, option D is correct.
Question : Modern computerised accounting system is based on the concept of database which is implemented using -
Option 1: Management Information System
Option 2: Database Management System
Option 3: Marketing Information System
Option 4: Accounting Information System
Correct Answer: Database Management System
Solution : The idea of a database is the foundation of contemporary computerised accounting systems. A database management system, which is defined by a collection of computer programmes (or software) that properly manage and organise data and give access to the stored data to application programmes, is used to implement databases.
Hence the Correct answer is option 2.
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
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.
Question : Pune-based Zomato Ltd. is a maker of electronics products. It deals in both laptops and mobile phones in addition to products like books, musical instruments, videotapes, etc. The business was organised functionally, with separate divisions for production, marketing, and finance. The products were being looked after by all the functional heads, while occasionally their tasks crossed over. Conflicts between departments and issues with cooperation resulted from this. Rahul, the CEO of the company, chose to categorise computers and mobile phones under "consumer electronics" and books, musical instruments, videotapes, and other items under "Media" to facilitate specialisation. Rahul has completed a task related to one of the management functions in the process. Determine the action.
Option 1: Identification and division of work
Option 2: Departmentalisation
Option 3: Assignment of duties
Option 4: Establishing authority and reporting relationships
Correct Answer: Departmentalisation
Solution : Grouping similar and related jobs into larger units called departments, divisions or sections and placing them under a department head. It facilitates specialization. – The departments are linked together and are interdependent. Hence, the correct option is 2.
Question : Which function of marketing is highlighted in the given statement?
Statement: It involves decisions like choice of mode of transportation in other related aspects.
Option 1: Physical distribution
Option 2: Product designing and development
Option 3: Transportation
Option 4: Branding
Correct Answer: Transportation
Solution : Transportation fills the place gap by carrying goods from one place of production to the place of consumption. Marking forms analysis its transportation needs of self considering factors like nature of the product, cost, location of the product,etc. Transportation include decisions like choice of mode of transportation and other related aspects.
Hence option C is correct.
Question : Which function of marketing is highlighted in the given statement?
Statement: It refers to giving a special name to the product.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Branding
Correct Answer: Branding
Solution : Branding refers to giving a special name to the product. Brand name distinguish the product from competitors product and helps in building customers loyalty and promoting sales.
Hence, option D is correct.
Question : Case Study: ABC Corporation - Financing Growth Strategies
ABC Corporation, a leading manufacturing company, is looking to finance its growth strategies. The company is exploring various sources of business finance to achieve its expansion goals.
Questions : Business Finance and Expansion
Which financial decision involves choosing the appropriate sources of funds for business activities?
Option 1: Marketing strategy
Option 2: Inventory management
Option 3: Financial planning
Option 4: Human resource allocation
Correct Answer: Financial planning
Solution : The correct answer is (c) Financial planning
Financial planning is the process of determining the company's financial goals and objectives and developing strategies to achieve them. It includes decisions related to choosing the right sources of funds to support business activities, manage operational costs, fund expansions, invest in new projects, and achieve sustainable growth. It's about efficiently managing financial resources to align with the company's strategic goals and ensure financial stability and success. Marketing strategy, inventory management, and human resource allocation are important aspects of business operations but are not specifically focused on selecting funding sources.
Question : Which organization is responsible for the marketing and export of agricultural products from India?
Option 1: Food Corporation of India (FCI)
Option 2: Spices Board of India
Option 3: Agricultural and Processed Food Products Export Development Authority (APEDA)
Option 4: Indian Council of Agricultural Research (ICAR)
Correct Answer: Agricultural and Processed Food Products Export Development Authority (APEDA)
Solution : The correct answer is (c) Agricultural and Processed Food Products Export Development Authority (APEDA).
APEDA is an apex government body under the Ministry of Commerce and Industry, Government of India. It is responsible for the promotion and development of export-oriented agricultural and processed food products. APEDA plays a crucial role in enhancing the competitiveness of Indian agricultural products in the global market.
Some of the key functions of APEDA include:
1. Registration and regulation of exporters of agricultural and processed food products.
2. Promotion and development of export-oriented production and processing of agricultural commodities.
3. Quality control and certification of agricultural products for export.
4. Market research and analysis to identify export potential and opportunities.
5. Facilitating market access and trade promotion for agricultural products.
6. Providing financial assistance and incentives to exporters.
APEDA works closely with various stakeholders, including farmers, growers, processors, exporters, and industry associations, to facilitate the marketing and export of agricultural products from India. It aims to boost the export of agricultural commodities and enhance India's presence in the global market.
Question : Which institution is responsible for the promotion and development of agricultural marketing cooperatives in India?
Option 1: Small Farmers Agribusiness Consortium (SFAC)
Option 2: National Cooperative Development Corporation (NCDC)
Option 3: National Bank for Agriculture and Rural Development (NABARD)
Option 4: National Horticulture Board (NHB)
Correct Answer: National Cooperative Development Corporation (NCDC)
Solution : The correct answer is (b) National Cooperative Development Corporation (NCDC).
The National Cooperative Development Corporation (NCDC) is responsible for the promotion and development of agricultural marketing cooperatives in India. It provides financial assistance and support to various cooperatives, including agricultural marketing cooperatives, to enhance their capabilities and promote their growth.
NCDC offers financial resources, technical assistance, training, and other support services to cooperatives involved in agricultural marketing activities. It aims to strengthen the cooperative movement in India and contribute to the overall development of the agricultural sector.