Match the items of List-II with the items of List-I and suggest the correct code:

List-I

(Marketing and Business Practices)

List-II

(Meaning)

(a) Customer partnering (i) Working more closely with customers to add value to their operations.

(b) Uncovering (ii) Using data mining and other analytical methods to develop deep insights into customers and how they behave.

(c) Broadening (iii) Studying “best practice companies” to improve performance.

(d) Benchmarking (iv) Factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprice.

Codes:

Question

Question

This question was previously asked in

UGC NET Paper 2: Management July 2018

Answer 1

The correct answer is (a) - (i), (b) - (ii), (c) - (iv), (d) - (iii)

Key Points

List I	List II	Important Points
Customer partnering	Working more closely with customers to add value to their operations.	Working together to build a future for both parties that is superior to what each could have accomplished separately is the aim of customer partnership. The consumer, who affects all areas of the organization, is the foundation for its success.
Uncovering	Using data mining and other analytical methods to develop deep insights into customers and how they behave.	Uncovering and exploring market trends requires a close look at past as well as current market conditions to pinpoint dominant patterns. It includes analyzing data related to competitors and consumers.
Broadening	Factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise.	A corporate plan that broadens the view and looks beyond the existing offering and customer interests to include shareholders, employees, and other stakeholders.
Benchmarking	Studying “best practice companies” to improve performance.	It is the process of comparing a company's performance with that of a competitor in the same industry. As a result, we'll be able to understand our company's performance and potential better. It entails establishing a benchmark against which the business will operate.

Hence, the correct answer is (a) - (i), (b) - (ii), (c) - (iv), (d) - (iii)

List-I (Marketing and Business Practices)		List-II (Meaning)
(a)	Customer partnering	(i)	Working more closely with customers to add value to their operations.
(b)	Uncovering	(ii)	Using data mining and other analytical methods to develop deep insights into customers and how they behave.
(c)	Broadening	(iii)	Studying “best practice companies” to improve performance.
(d)	Benchmarking	(iv)	Factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprice.