Tag: commerce

Quizzes (249) Questions (753)

Questions Related to commerce

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

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

  1. Potential buyers

  2. People

  3. Residents

  4. Audience
Reveal answer Fill a bubble to check yourself
A Correct answer
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.  

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

Marketing can play a significant role in economic development.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

__________ 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.

  1. Competitive advantage

  2. Competence

  3. Core competence

  4. Value addition
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Competitive advantage refers to factors or capabilities that allow a company to produce goods or services better or more cheaply than its rivals. This edge enables the firm to generate more sales or superior margins.

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

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

  1. External co-ordination

  2. Horizontal co-ordination

  3. Vertical co-ordination

  4. None of above
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

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

  1. Management by Objectives

  2. Management by Function

  3. Management by Department

  4. Management by Employees
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

Objectives should provide direction to _______.

  1. Managerial activities

  2. Marketing

  3. Financing

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

The core concept of MBO is ________.

  1. Organizing

  2. Directing

  3. Planning

  4. Controlling
Reveal answer Fill a bubble to check yourself
C Correct answer
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.