Tag: commerce

Questions Related to commerce

What influences the choice of location of business?

commerce marketing mix marketing environment meaning and definition of marketer role of marketing

  1. Labour

  2. Government Assistance

  3. Population

  4. All of the above

Show answer
Correct Option: D
Explanation:

The main factors affecting location are:
(a) Raw materials
(b) Market
(c) Transport costs
(d) Land
(e) Labour
(f) Population
(g) Waste disposal
(h) Government
(i) Overseas location decisions

The product will be designed according to the needs of _______.

commerce marketing mix marketing environment meaning and definition of marketer role of marketing

  1. Potential buyers

  2. People

  3. Residents

  4. Audience

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Correct Option: A
Explanation:

In marketing, the company selects the target market and tries to satisfy consumer's needs from that specific market to increase the efficiency of marketing. Growing consumerism has made companies to design their products complying to the potential buyer's needs and demand.  

________ can help in overcoming the obstacles posed by high prices.

commerce marketing mix marketing environment meaning and definition of marketer role of marketing

  1. Distribution

  2. Sales

  3. Marketing

  4. Financing

Show answer
Correct Option: C
Explanation:

Marketing strategies can create solutions for the problems like high prices of products by brief study of market , customers & other factors.

Marketing can play a significant role in economic development.

commerce marketing mix marketing environment meaning and definition of marketer role of marketing

  1. True

  2. False

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Correct Option: A
Explanation:

Marketing is an economy's arbiter between productive capacity and consumer demand. In addition, marketing process is a critical element in the effective utilization of the production resulting from economic growth, and balance between higher production and higher consumption.

__________ comes from a firm's ability to perform activities more distinctively and more effectively than rivals, thus is allowing a firm to gain an edge over the rivals.

commerce marketing mix marketing environment meaning and definition of marketer role of marketing

  1. Competitive advantage

  2. Competence

  3. Core competence

  4. Value addition

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Correct Option: A

______ refers to the establishment of a relationship between the persons of the same status.

commerce management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. External co-ordination

  2. Horizontal co-ordination

  3. Vertical co-ordination

  4. None of above

Show answer
Correct Option: B
Explanation:

Horizontal coordination refers to the establishment of a relationship between the persons of the same status. Horizontal coordination can be defined as a process of synchronization between the two or more persons working at the same level of authority. Generally different departmental heads discuss the policy of their department with each other in order to facilitate coordination in the organization.

_________ provides a means to identify and plan for the achievement of goals.

commerce management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. Management by Objectives

  2. Management by Function

  3. Management by Department

  4. Management by Employees

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Correct Option: A
Explanation:

Management by Objectives provides a means to identify and plan for the achievement of goals. MBO or management by objectives can be defined as a personnel management technique where managers and employees work together to set, record and monitor goals for a specific period of time. MBO provides a plan the organizational goal. MBO can be applied in various areas of organization, such as, performance appraisal, organizational development, etc.

Objectives should provide direction to _______.

commerce management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. Managerial activities

  2. Marketing

  3. Financing

  4. All of the above

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Correct Option: D
Explanation:

Objectives should provide direction to managerial activities, marketing and financing. Objectives is often referred as an end point of any activity. All the activities of an organization should be guided and directed in  such a way so that objectives or the organizational goal can be achieved in an efficient manner.

As future is uncertain, strategic management as a process requires foresight.

commerce management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. True

  2. False

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Correct Option: A
Explanation:

As future is uncertain, strategic management as a process requires foresight. This is a true statement. Strategic management. involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners. Strategic management of the organizational activities help to achieve the organizational goal in a more efficient manner.

The core concept of MBO is ________.

commerce management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. Organizing

  2. Directing

  3. Planning

  4. Controlling

Show answer
Correct Option: C
Explanation:

The core concept of MBO is planning. MBO or management by objectives can be defined as a personnel management technique where managers and employees work together to set, record and monitor goals for a specific period of time. MBO provides a plan the organizational goal. MBO can be applied in various areas of organization, such as, performance appraisal, organizational development, etc.