Correct Answer: Cost of revenue from operations + Operating Expenses/Net Revenue from Operations

Solution : The operating ratio demonstrates how effectively a company's management controls expenditures while producing income or sales.
Formula: Cost of revenue from Operations + Operating Expenses/Net Operations Revenue
Therefore, the right answer is option 3.

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: Increasing brand awareness by 20% within six months

Solution : The correct answer is (a) Increasing brand awareness by 20% within six months.

A marketing objective is a specific and measurable goal that a company sets to achieve through its marketing efforts. It provides a clear target or outcome that the company aims to accomplish within a specific time frame. 

Among the options provided, increasing brand awareness by 20% within six months is an example of a marketing objective. It sets a specific goal of increasing brand awareness by a specific percentage (20%) within a defined time frame (six months). This objective focuses on a marketing-related outcome and provides a clear metric to measure success.

Correct Answer: Transportation 

Solution : Transportation fields this place gap by carrying goods from place of production to place of consumption. Transportation includes decisions like choice of mode of transportation and other related aspects.

Hence, option B 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 does aim to achieve customer satisfaction and long-term profitability. It involves understanding and meeting customer needs effectively to satisfy customers and ensure long-term business success and profitability.

Statement 2 is false. The production concept does not prioritize understanding customer preferences and needs. It is primarily concerned with efficient and cost-effective production processes to mass-produce standardized products, often without considering specific customer preferences.

Therefore, statement 1 is correct, and statement 2 is false.

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: 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: To support costly innovation projects

Solution : The correct answer is (d) To support costly innovation projects

LMN Ventures might need external financing for its research and development (R&D) initiatives primarily to support costly innovation projects. Research and development involve significant investments in terms of resources, technology, talent, and time. Innovative projects can be expensive, especially those involving cutting-edge technologies, advanced research, or development of new products.

To support costly innovation projects is the most relevant and common reason for seeking external financing for R&D initiatives, especially when the projects require substantial financial resources to drive innovation and maintain competitiveness in the market.

Correct Answer: Divisional structure

Solution : In a divisional structure, people are grouped together based on the product or service they provide, not the work they do. For example, a large corporation such as General Electric has divisions for electronics, transportation, and aviation, each with its own team of accountants, marketers, etc. Hence, the correct option is 3.

Correct Answer: Functional structure

Solution : Functional structure is the classification of related jobs into separate departments. Hence, the correct option is 1.