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: Marketing Concept

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

The Marketing Concept is a customer-centric philosophy that focuses on understanding and meeting customer needs and wants. It involves delivering superior value to customers to achieve customer satisfaction and, in turn, gain long-term customer loyalty. This approach aims to create a strong customer orientation throughout the organization, where the primary goal is to provide products or services that address customer needs and preferences effectively, ultimately leading to business success.

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: Gathering and analysing market information

Solution : One of the important functions of a market is to collect and analyse market information. This is necessary to identify the needs of the customers and take a various decisions for the successful marketing of the products and services.

Hence, option A is correct.

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. The marketing concept is a marketing management philosophy that focuses on understanding and satisfying customer needs and wants, rather than simply selling what the company makes. It prioritizes customer satisfaction and long-term relationships.

The reason is false. The reason incorrectly suggests that the marketing concept is primarily about selling what the company makes. In fact, the marketing concept is about identifying and meeting customer needs effectively, aligning products and services accordingly, and creating value for customers.

In summary, the assertion is true, but the reason is not an accurate explanation of the assertion.

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. The marketing concept is a marketing management philosophy that focuses on understanding and satisfying customer needs and wants, rather than simply selling what the company makes. It prioritizes customer satisfaction and long-term relationships.

The reason is false. The reason incorrectly suggests that the marketing concept is primarily about selling what the company makes. In fact, the marketing concept is about identifying and meeting customer needs effectively, aligning products and services accordingly, and creating value for customers.

In summary, the assertion is true, but the reason is not an accurate explanation of the assertion.

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: 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: 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.

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.