UGC NET/JRF EXAM, (MANAGEMENT) June 2019

Total Questions: 80

51. Which out of the following is not true about consumer satisfaction?

Correct Answer: (d) Consumer satisfaction is not different from consumer loyalty. Both are same concepts
Solution:"Consumer satisfaction is not different from consumer loyalty. Both are same concepts." is not true about consumer satisfaction actually both are different concepts.

A customer's attitude towards a product, service or brand is measured by their level of customer satisfaction, whereas customer loyalty is set of behaviors and attitude that a customer exhibits that demonstrate loyalty of product, service or brand, such as a repeat purchases or choosing the brand over a competitor.

52. The mistake of paying more attention to the specific products of a company offers than to the benefits and experience produced by these products is known as

Correct Answer: (c) Marketing myopia
Solution:Marketing Myopia is narrow minded approach which focuses on the company's needs rather than defining the company and its product in terms of the needs and wants of customers. As a results, they are unable to recognize and respond to the rapid shifts in their markets.

53. The following statements relate to marketing:

Statement I : "For any business enterprise there are two and only two basic functions: marketing and innovation. These two produce results; all the rest are costs."
Statement II: "The product concept of marketing holds that business can be managed by maximization of production and the resultant lower unit cost and low price."

Which of the following options is correct?

Correct Answer: (a) Statement I is correct, but II is incorrec
Solution:Statement I: "For any business enterprise there are two and only two basic functions, marketing and innovation These two produce results; all the rest are costs.
There fore, statement I is the correct.
Statement II : "The product concepts of marketing holds that business can be managed by maximisation of production and the resultant lower unit cost and low price."

Therefore, statement II is the incorrect.

54. Following are two statements with regard to product life cycle (PLC):

Statement I: Product sales pass through distinct stages of PLC, each posing different challenges, opportunities and problems to the seller.
Statement II : A company's positioning and differentiation strategy must change as its product, market and competitors change over the product life cycle.

Which of the following options is correct?

Correct Answer: (c) Both the statements I and II are correct
Solution:Statement I : Product sales pass through distinct stages of PLC, each posing different challenges, opportunities and problems to the seller.
Therefore, statement I is the correct.
Statement II: A company's positioning and differentiation strategy must change as its product, market and competitors change over the product life cycle.
Therefore, statement II is the also correct.

55. A firm's competitive advantage over its competitor is best described by the

Correct Answer: (a) Difference between buyers' willingness to pay (WTP) and suppliers' willingness to sell (WTS) is greater than the competitor's difference between the WTP and WTS
Solution:The consumer's willingness to pay for a good is the maximum price at which he or she would buy that good. Individual consumer Surplus is the net gain to an individual buyer from the purchase of a good.

It is equal to the difference between the buyer's willingness to pay and the price paid. More is the difference between WTP and WTS more is the firm's competitive advantage.

56. Re-engineering, a radical redesign of business processes, is an essential and integral to which of the following strategies?

Correct Answer: (d) Turnaround strategy
Solution:The turnaround strategy is a retrenchment strategy- followed by an organization when it feels that the decision made earlier is wrong and needs to be undo before it damages the profitability of the company. Re - engineering is the re-designing to business process and is used for turnaround strategy.

57. Match List I with List-II

List-IList-II
(A) Propitious nich(i) It focusses on improving the competitive position within specific industries that the business unit serves
(B) Strategic window(ii) An extremely favourable market situation so well suited to the competitive firm's advantage that other organisations are not likely to challenge it
(C) Mission(iii) A unique market opportunity that is available only for a particular time
(D) Business strategy(iv) It is an objective and measurable common thread to highlight and focus the energy of everyone in the direction that the management believes is the best for the best

Choose the correct option from those given below:

Correct Answer: (d) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)
Solution:The code of Correct matching of list I with list II -
List-IList-II
(a) Propitious niche(ii) An extremely favourable market situation so well suited to the firm's competitive advantage that other organizations are not likely to challenge it.
(b) Strategic window(iii) A unique market opportunity that is available only for a particular time.
(c) Mission(iv) It is an objective and measurable common thread to highlight and focus the energy of everyone in the direction that the management believes is the best for the best.
(d) Business strategy(i) It focuses on improving the competitive position within specific industry that the business unit serves.

58. Which of the following approaches was added by Quinn to the Mintzberg's modes of strategic decision making?

Correct Answer: (b) Logical incrementalism approach
Solution:Entrepreneurial, Adaptive, and Planning are the three most typical approaches or modes of strategic decision making.

In Mintzberg's mode of strategic decision making Quinn then added a fourth mode to this decision making process, namely logical incrementalism approch.

59. According to BCG matrix, for which one of the following positions of SBU the firm should decide to curtail losses by divesting?

Correct Answer: (d) Dog
Solution:"Dog" Dog hold low market share compared to competitors and operate in a slowly growing market.

They are not worth investing in because they generate low or negative cash returns. So, under this position of SBU the firm should decide to curtail losses by divesting.

60. Match List-I with List-II

List-IList-II
(A) Product line(i) Total number of items under each product/brand in the line
(B) Depth of product(ii) Number of products/brands in the line
(C) Width of product mix(iii) Group of closely related products
(D) Length of product line(iv) Number of product lines

Choose the correct option from those given below:

Correct Answer: (a) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)
Solution:The code of Correct matching of list I with list II -
List-IList-II
(A) Product line(iii) Group of closely related products
(B) Depth of product(i) Total number of items under each product/brand in the line
(C) Width of product mix(iv) Number of product lines
(D) Length of product line(ii) Number of products/brands in the line