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Question : According to the finance budget 2020-21, the target of 200 lakh tonnes of fish production by 2022-23 has been set as a part of the:

Option 1: pink economy

Option 2: white economy

Option 3: grey economy

Option 4: blue economy

Team Careers360 21st Jan, 2024

Correct Answer: blue economy


Solution : The correct answer is the blue economy.

According to the finance budget 2020-21, 200 lakh tonnes of fish production targeted by 2022-23 has been set as a part of the blue economy. According to the World Bank, the sustainable use of ocean resources for economic growth, improved livelihoods and employment generation while preserving the health of ocean ecosystems is known as the blue economy.

16 Views

Question : Case Study:

A company believes that consumers will buy products that are readily available and affordable. Their primary focus is on increasing production and distribution efficiency. This philosophy is closely related to the:

 

Option 1: Marketing Concept

Option 2: Societal Marketing Concept

Option 3: Production Concept

Option 4: Product Concept

Team Careers360 17th Jan, 2024

Correct Answer: Production Concept


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

The Production Concept is a marketing philosophy that emphasizes producing high-quality products at the lowest possible cost and making them widely available. The primary goal is to achieve production efficiency, streamline operations, and reduce production costs to ensure that products are affordable and readily available to customers. This approach assumes that customers will favor products that are easily accessible and affordable, placing the emphasis on the production and distribution aspects of the business.

 

13 Views

Question : Statement 1: The Green Revolution led to a significant increase in the production of oilseeds in India.

Statement 2: The Green Revolution focused primarily on the cultivation of cash crops.

Option 1: Both statements are true.
 

Option 2: Both statements are false.
   

Option 3: Statement 1 is true, and statement 2 is false.

 

Option 4: Statement 1 is false, and statement 2 is true.

Team Careers360 9th Jan, 2024

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

 


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

Statement 1 is true. The Green Revolution was a period of agricultural growth in India that began in the 1960s. It led to a significant increase in the production of oilseeds, as well as other crops such as wheat and rice.

Statement 2 is false. The Green Revolution did not focus primarily on the cultivation of cash crops. In fact, it was designed to increase the production of food crops in order to alleviate hunger and poverty. While some cash crops, such as soybeans, were also beneficiaries of the Green Revolution, they were not the primary focus.

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Question : Case Study:

ABC Electronics is known for creating products that cater to customers' evolving needs and preferences. They constantly analyze market trends and implement innovative marketing strategies. Which marketing concept does ABC Electronics adhere to?

Option 1: Production Concept

Option 2: Selling Concept

Option 3: Marketing Concept

Option 4: Societal Marketing Concept

Team Careers360 6th Jan, 2024

Correct Answer: Marketing Concept


Solution : The correct answer is  (c) Marketing Concept

The marketing concept focuses on understanding and meeting customers' needs and preferences by analyzing market trends and implementing innovative marketing strategies. It is customer-centric and aims to deliver superior value to customers in order to achieve the organization's goals and objectives.

15 Views

Question :

1   

Early identification of opportunities helps an 
enterprise to be the first one to exploit it.

A Business environment helps to identify threats and serve as a warning signal
2 Business depends on the environment as a source of inputs and as an outlet for output B Understanding and examining the environment helps to cope with the significant changes
3 Turbulent market condition, less brand loyalty, more demanding customers describe today's business environment C First mover advantage
4 In a strategic move towards countering the new entrants in the mid segment, Maruti Udyog increased the production three fold. D Business needs to design policies that allow to get the resources it needs

 

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

Team Careers360 16th Jan, 2024

Correct Answer: 1-C, 2-D, 3-B, 4-A


Solution : 1. First mover advantage - Maximum benefit or profit by grabbing the opportunity at the earliest.
2. Helps in tapping resources - Collecting right type of resources as per present requirement of business by foreseeing the requirement due scan of business environment.
3. Helps in adapt changes - Bringing changes in your organisation as per changes in environment. Being innovative and adopt latest technology latest method of production etc.
4. Warning signal - Come to know in advance for the coming constraints or threats of business due to scan of environment.
Hence, option 3 is the correct answer.

11 Views

Question : Case Study 7:

ABC Corp. is a manufacturing company that is heavily reliant on fossil fuels for its production processes. Due to increasing concerns about environmental sustainability, the company is facing pressure to adopt eco-friendly practices.

Q:- How can understanding the natural environment benefit ABC Corp. in adopting eco-friendly practices?
 

 

 

 

Option 1: By reducing its production volume

Option 2: By increasing product prices

Option 3: By adopting renewable energy sources

 

Option 4: By diversifying into unrelated businesses

Team Careers360 9th Jan, 2024

Correct Answer: By adopting renewable energy sources

 


Solution : The correct answer is (C) By adopting renewable energy sources

Understanding the natural environment can benefit ABC Corp. in adopting eco-friendly practices, primarily by helping the company make informed decisions about adopting renewable energy sources. By recognizing the importance of environmental sustainability and the role of natural resources, ABC Corp. can invest in renewable energy technologies and reduce its reliance on fossil fuels, thus making its production processes more eco-friendly.

9 Views

Question : Which feature of marketing is highlighted in the given statement?
Statement: It aims to identify unsatisfied needs of the target customers and developed production services that satisfy such needs.
 

Option 1: Marketing
 

Option 2: Customer value
 

Option 3: Creating a market offering
 

Option 4: Exchange mechanism

Team Careers360 8th Jan, 2024

Correct Answer: Marketing
 


Solution : The focus of the marketing process is on satisfaction of the needs and bones of individuals and organisation. Marketing aims to identify unsatisfied needs of the target customers and developed production services that satisfy such needs.

Hence, option A is correct.

20 Views

Question : Which of the following is an example of promotion as a marketing mix strategy?

 

Option 1: Modifying the product features

Option 2: Increasing the production capacity

Option 3: Hiring additional salespeople

Option 4: Launching a social media campaign

Team Careers360 21st Jan, 2024

Correct Answer: Launching a social media campaign


Solution : The correct answer is (d) Launching a social media campaign.

Launching a social media campaign is an example of promotion as a marketing mix strategy. Promotion strategy involves the various marketing communication activities and techniques used to raise awareness, generate interest, and persuade potential customers to purchase a product or service. Social media campaigns utilize platforms such as Facebook, Instagram, Twitter, or LinkedIn to reach and engage with the target audience. Through social media, companies can share compelling content, run targeted advertisements, interact with customers, and create buzz around their products or services.

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