Tag: commercial applications

Quizzes (170) Questions (1551)

Questions Related to commercial applications

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

If the sample size increases, the sampling error __________.

  1. decreases

  2. increases

  3. remains constant

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The relationship between margin of error and sample size is inverse i.e when sample size increases, the sampling error decreases. This is because the more information you have, the more accurate the results would be. 

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

What is probability of rejecting the null hypothesis when it is true called?

  1. Type II error

  2. Type I error

  3. Standard error

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

A Type I error occurs when a true null hypothesis is incorrectly rejected (false positive).

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

_________ offers the opportunity to produce goods as per customer and specific need.

  1. Job method

  2. Batch method

  3. Flow method

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

While job methods are specifically designed for custom orders, the question asks which method offers the opportunity to produce goods as per customer need. In broad contexts, various production methods can be adapted to customer specifications.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Main factor for spending on R and D are ________.

  1. for survival in the market

  2. for change in environment

  3. for change in government policies

  4. change in company's image
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Research and development (R&D) is primarily driven by the need for innovation to maintain a competitive advantage and ensure long-term survival in a changing market.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Early identification of opportunities helps an enterprise to be the first to exploit them instead of losing it to competitors. The mentioned advantage can be categorized under ______.

  1. first mover advantage

  2. initial identifier advantage

  3. earlier advantage

  4. second mover advantage
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

First mover advantage refers to the competitive advantage gained by the initial occupant of a market segment, allowing them to establish brand loyalty and capture market share before competitors.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Assignment of competitive rivalry does not include an understanding of  __________.

  1. the extent to which competitors are in balance

  2. market growth rates

  3. fixed costs, exit barriers and operational efficiency

  4. the management structure of an organisation
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Competitive rivalry analysis focuses on external market factors like growth rates, exit barriers, and competitor balance. The internal management structure of an organization is an internal operational matter, not a component of competitive rivalry analysis.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

A top manager of a Candy bar manufacturer asks for a report on how a new competing Candy company is being advertised. This is an example of ______.

  1. production research

  2. marketing research

  3. employee research

  4. none of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Analyzing competitor advertising activities is a standard function of marketing research, which seeks to understand the competitive environment.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Expansion is external and horizontal.

  1. True

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

Growth strategies are of two types
1.Internal
2.External
Expansion refers to external or horizontal growth, such as that exhibited by a firm that successfully engages in mergers and acquisitions.
Business expansion refers to raising the market share, sales revenue and profit of the present product or services. The business can be expanded through product development, market development, expanding the line of product, etc.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

Why do companies spend on research and development?

  1. To do business in a streamlined way

  2. It is a part of business

  3. Change is a crucial part of business

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

Research and development helps the company to know what exactly a customer needs and requires and which is the most profitable market to serve. It also informs the company about how the consumers perceive their product and collect feedback and reviews from the consumer, these feedback help the company to impove and redesign the product to design it best suitable for the target market.

Multiple choice commercial applications functioning of commercial organisation definition and functions of production department production or works department ideologies/concepts/views of marketing management

An opportunity assessment plan includes which of the following?

  1. A description of the product or service

  2. An assessment of the opportunity

  3. As assessment of the entrepreneur and the team

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

An opportunity assessment plan is a comprehensive document that evaluates the product, the market opportunity, and the capabilities of the entrepreneurial team to execute the plan.