Tag: elements of business

Questions Related to elements of business

Personal selling is time consuming.

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. True

  2. False

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Correct Option: A

Which of the following is not a merit of personal selling?

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. Minimum wastage

  2. Direct feedback

  3. Flexibility

  4. None of the above

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Correct Option: D

Personal selling can give a personal touch to the selling process.

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. True

  2. False

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Correct Option: A
Explanation:

True, personal selling gives a personal touch to the selling process as the salesperson is in the direct contact with the customer where he can understand the need, taste and the preference of the customer and sell products accordingly.

Face to face conversation is one of the most important features of personal selling.

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. True

  2. False

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Correct Option: A

Selling is a narrow concept as compared to marketing.

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. True

  2. False

  3. Partly true

  4. Partly false

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Correct Option: A
Explanation:

True .selling is a narrow concept as compared to marketing . As selling is part of marketing which is a wider concept . 

Marketing is related to promotion and transfer of the commodity from one person to the other . Marketing concept incorporates a number of activities like identifying the need of customers , designing and developing the product as per their wants etc.

Match the items in List-I with those in List-II:

List - I List - II
(a) Post purchase behaviour (i) AIDA
(b) Personal selling (ii) ACMEE
(c) Everitt M. Rogers (iii) Diffusion of Innovation
(d) Salesperson training (iv) Cognitive dissonance

Indicate the correct matching.

elements of business advertising and brand promotion distinction between advertising and sales promotion meaning and importance of personal selling personal selling concept,types, objectives, advantages and criticism of advertising distinction between advertising and personal selling meaning, objectives, merits and demerits of advertising

  1. $(a) - (i), (b) - (ii), (c) - (iii), (d) - (iv)$

  2. $(a) - (iv), (b) - (ii), (c) - (iii), (d) - (i)$

  3. $(a) - (iii), (b) - (ii), (c) - (i), (d) - (iv)$

  4. $(a) - (ii), (b) - (i), (c) - (iii), (d) - (ii)$

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Correct Option: D

Among the aids to trade, _________ widens the market.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Warehousing

  2. Insurance

  3. Banking

  4. Transport

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Correct Option: D
Explanation:

Transportation is a major contributor to the economy and a competitive force in business.It is the activity that physically connects the business to its supply chain partners, such as suppliers and customers, and is a major influence on the customer's satisfaction with the company.

A network that allows trade is called a ______.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. networking

  2. specialization

  3. internet

  4. market

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Correct Option: D
Explanation:

A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers.

_______ helps to highlight the distinctive features and utility of different products. 

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Communication

  2. Insurance

  3. Warehousing

  4. Advertising

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Correct Option: D
Explanation:

Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services.

_______ enhances the social well being of citizens by exposing them to variety of quality products including luxury items.

elements of business classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

  1. Warehousing

  2. Transportation

  3. Trade

  4. Insurance

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Correct Option: C
Explanation:

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. 

A system or network that allows trade is called a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services.