Correct Answer: Physical distribution 

Solution : This physical distribution involved deciding the distribution of goods and services from place of production to place of consumption. The important 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: Marketing Concept

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

The Marketing Concept is a customer-centric approach that centers on understanding and meeting customer needs and wants effectively. It emphasizes building long-term relationships with customers by delivering superior value and customer satisfaction. The primary focus is on understanding customer preferences, creating products or services that address those preferences, and ensuring that customers perceive value in what is offered. The ultimate goal is to satisfy customers while achieving the company's objectives through value creation and strong customer relationships.

Correct Answer: Social objective 

Solution : Social objectives involve the creation of benefits for society. It deals with fullfiling obligations toward the society. Management must consistently create economic value for various constituents as a social objective.

Hence, Option B is correct.

Correct Answer: Authority and responsibility

Solution : According to the principal there should be a proper balance between authority and responsibility. Parity between authority and responsibility helps in meeting responsibilities on time and prevents misuse of authority.

Hence, option A is correct.

Correct Answer: common

Solution : The second option is correct.

The word common is suitable in this context because it implies that the practice of discharging contaminated effluent into the river and surrounding wetlands is widespread, usual, or frequently observed.

Common practice suggests that it happens regularly and is not an isolated or rare occurrence.

Therefore, the correct answer will be common.

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 involves various strategies and activities aimed at understanding customer needs, promoting products or services that meet those needs, and building strong relationships with customers to enhance satisfaction and loyalty.

The reason is not the correct explanation of the assertion. While production of goods is a part of marketing management, it is not the sole focus. Marketing management encompasses a broader range of activities, including market research, product development, pricing strategies, distribution, and promotion, all of which are aimed at understanding and satisfying customer needs to enhance satisfaction and build loyalty.

Correct Answer: Total revenue

Solution : The correct answer is (c) Total revenue.

A marketing metric is a quantifiable measure used to assess the performance, effectiveness, and impact of marketing activities. It provides specific data or

numerical information that helps evaluate marketing outcomes and make data-driven decisions.

Among the options provided, total revenue is an example of a marketing metric. It measures the total amount of money generated from sales of products or services within a specific time period. Total revenue is a key metric that reflects the overall financial performance and success of marketing efforts, indicating the effectiveness of pricing, promotion, and sales strategies.

Correct Answer: Lack of coordination.
 

Solution : Lack of coordination among the various department is highlighted in the above statement. It leads to miscommunication.
Hence Option D is correct.

Correct Answer: Product Concept

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

The Product Concept is a marketing philosophy that centers on creating high-quality products with distinctive features, attributes, and benefits. The primary emphasis is on the product itself, striving to offer features and benefits that differentiate the product from competitors and meet or exceed customer expectations. The goal is to provide a product that customers perceive as exceptional and desirable, positioning it as the best choice in the market.

Correct Answer: Goal setting.

Solution : The correct answer is (a) Goal setting.

Goal setting is a crucial aspect of controlling that involves defining clear and specific objectives for the organization. In ABC Furniture's case, setting goals related to production efficiency, quality standards, cost management, and maintaining a competitive edge can help guide the company's efforts and measure its performance against these goals. By setting well-defined goals, ABC Furniture can monitor its progress, identify any deviations, and take corrective actions to ensure that it stays on track to achieve its objectives. This emphasis on goal setting is essential for enhancing efficiency and competitiveness in a challenging market environment.