Tag: commercial studies

Quizzes (186) Questions (1136)

Questions Related to commercial studies

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Which of the following pricing methods is usually adopted by Chain stores?

  1. Odd pricing

  2. Psychological pricing

  3. Customary pricing

  4. Prestige pricing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Customary pricing is used for products where the price is determined by long-standing tradition or market expectations, which is common in chain stores for convenience goods.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

All activities which are undertaken to promote the side of products.

  1. Promotional blend

  2. Marketing mix

  3. Product mix

  4. Market segment
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Promotional blend (or promotion mix) refers to the combination of tools like advertising, sales promotion, and public relations used to communicate with and persuade the target market.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

A pull blend emphasises.

  1. Personal selling

  2. Mass impersonal selling efforts

  3. Exhibition and other non-recurrent selling efforts

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

A pull strategy focuses on mass media advertising and consumer-oriented promotions to build demand, effectively 'pulling' the product through the distribution channel by creating consumer interest.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Items, considered part of the augmented product, do not include________. 

  1. Guarantee

  2. Warranty

  3. Complementary products

  4. Channels of distribution
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The augmented product includes non-physical benefits like warranties, installation, and after-sales service. Channels of distribution are part of the 'place' element of the marketing mix, not the augmented product itself.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

If the conversion period is arrived at as 10, it means ____________________.

  1. It takes 10 days to convert the raw materials to finished goods

  2. 10 days cost of production is held on an average as WIP

  3. Raw materials which can be consumed in 10 days are held in WIP.

  4. Both (A) and (B) above

  5. Both (A) and (C) above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Conversion period or work-in-progress (WIP) period indicates the time taken for converting the raw materials to finished goods, it also indicates the number of days the cost of production is held on an average as WIP.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

________ products are the products in the purchase of which, consumers devote considerable time.

  1. Consumer

  2. Sales

  3. Shopping

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

Shopping products are a higher end products occasionally bought by consumers that are usually compared for their appropriateness, quality, cost and features before making a purchase decision. Consumers tend to take more time when purchasing a shopping good produced by a business, and they might even travel to buy such products.