Correct Answer: positive; 0.6%

Solution : The correct answer is positive; 0.6%.

During the years 1991–92, industrial production recorded a positive growth of 0.6%. The New Industrial Policy of 1991 was implemented to liberate the industry from the shackles of the licensing system. The aim was to increase the competitive culture among the industries to benefit the public at large. Employment opportunities were increased.

Correct Answer: Physical distribution

Solution : This function of marketing involved deciding the distribution of goods and services from place of production to place of consumption. The important decision areas under physical distribution include managing elementary shortage and warehousing and transportion of goods from one place to another.

Hence option D is correct.

Correct Answer: Product Concept

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

The Product Concept is a marketing philosophy that centers on creating high-quality products that meet or exceed customer expectations. It involves understanding customer needs and preferences and designing products that address those needs effectively. Additionally, the Product Concept emphasizes continuous product improvement to enhance customer satisfaction and maintain a competitive edge in the market. This approach places the product at the center of marketing efforts and aims to deliver superior value to customers through a focus on product quality, features, and benefits.

Correct Answer: Assertion is true, but the reason is false.

Solution : The correct answer is (c) Assertion is true, but the reason is false.

The assertion is true. Marketing management involves the application of various marketing techniques and principles. It encompasses planning, organizing, implementing, and controlling marketing activities to meet organizational goals.

The reason is false. Marketing management is not solely concerned with production processes. It involves a wide range of activities related to marketing strategy, market research, product development, pricing, promotion, distribution, and customer relationship management. Production processes are a part of operations management, which is distinct from marketing management.

In summary, the assertion is true, but the reason provided is false as it inaccurately represents the scope and focus of marketing management.

Correct Answer: Uttar Pradesh

Solution : The correct option is Uttar Pradesh.

Milk production in the country has demonstrated a notable increase of 5.29% compared to the preceding year, 2020–21. The primary contributors to this growth are the top five states in terms of milk production. Uttar Pradesh leads the chart with a substantial share of 18%, followed closely by Rajasthan at 14.93%, Madhya Pradesh at 8.6%, Gujarat at 7.56%, and Andhra Pradesh at 6.97%. Together, these states play a pivotal role, collectively accounting for an impressive 53.11% of the total milk production in the country.

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

Solution : The correct answer is (a) Statement 1 is true, and statement 2 is false.

Statement 1 is true. Financial planning indeed plays a pivotal role in effective resource allocation within a business. It involves allocating financial resources optimally to various activities and functions to achieve the company's objectives efficiently.

Statement 2 is false. Financial planning is not limited to focusing on production activities. It encompasses a broader scope, including planning for all financial aspects of the business, such as investment, financing, budgeting, risk management, and overall financial strategy. Production activities are just one component of the overall financial planning process.

Correct Answer: Marketing Concept

Solution : The correct answer is (c) Marketing Concept

The marketing concept is centered around understanding and meeting customer needs and preferences, delivering superior value, and prioritizing customer satisfaction and long-term relationships. XYZ Retail's focus on building strong relationships with customers and emphasizing customer satisfaction and long-term loyalty aligns with the principles of the marketing concept.

Correct Answer: Both statements are correct.

Solution : The correct answer is (a) Both statements are correct.

Statement 1 is correct. The societal marketing concept indeed integrates ethical and social considerations into marketing decisions. It emphasizes not only meeting customer needs but also considering broader social and ethical concerns in marketing strategies and practices.

Statement 2 is correct. The production concept does focus on producing goods without necessarily considering customer preferences. It is primarily concerned with efficient and cost-effective production processes to mass-produce standardized products.

Therefore, both statements are correct.

Correct Answer: Marketing Concept

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

The Marketing Concept is a customer-centric approach that focuses 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. Additionally, understanding market trends is a fundamental aspect of the Marketing Concept, allowing companies to adapt and tailor their strategies to changing market dynamics and consumer preferences. The ultimate goal is to meet customer needs and achieve business objectives by creating value and satisfying customers.

Correct Answer: Method Study

Solution : The correct answer is (d) Method Study

Method study involves analyzing and simplifying work processes to improve efficiency and productivity. It aims to eliminate unnecessary steps, reduce complexity, and optimize the workflow, which directly aligns with the scenario of identifying and eliminating unnecessary steps in the production process.

In summary, XYZ Engineering using method study to identify and eliminate unnecessary steps in their production process aligns with the technique of "Method Study," which involves analyzing and simplifying work processes to enhance efficiency and productivity by eliminating unnecessary steps.