Tag: marketing and sales

Quizzes (11) Questions (78)

Questions Related to marketing and sales

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

The series of activities undertaken to create a product or deliver a service is called a _________.

  1. strategy

  2. business function

  3. financial Management

  4. transformation process
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The series of activities that transform inputs into outputs (products or services) is defined as a business function or process. It is the core operational activity of any organization.

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

The organisation tries to develop new products or services and thereby makes similar existing products obsolete. Which strategy does the organisation follow?

  1. Expansion

  2. Innovation

  3. Intensification

  4. Concentration
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Innovation is the process of creating new products or services that improve upon or replace existing ones, thereby driving market evolution and rendering older versions obsolete.

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

TQM's major emphasis is on __________.

  1. Product quality

  2. Company profitability

  3. Customer delight

  4. Employee training
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total Quality Management (TQM) is a management approach centered on quality, based on the participation of all members of an organization and aimed at long-term success through customer satisfaction and product excellence.

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

If a retailer displays shampoo as a personal care item, as a fashion accessory or as a bath room product, then it presents an example of _____________.

  1. Market Penetration

  2. Product Development

  3. Market Development

  4. Intensification
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Product development involves finding new ways to present or improve existing products to reach different needs or segments. Displaying a shampoo in different contexts (fashion vs. personal care) is a form of product development strategy.

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

Horizontal merger is a combination of ____________ in the same business and as the production process.

  1. single firm

  2. single or two firm

  3. two or more firms

  4. all of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A horizontal merger occurs between two or more firms that operate in the same industry and at the same stage of production, typically to increase market share or reduce competition.

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

_____________ specifies the estimated quantity and cost of material during different volumes of production.

  1. Case budget

  2. Material budget

  3. Production budget

  4. Sales budget
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Material budget specifies the estimated quality and cost of material during different volumes of production.

It is the budget prepared to show the quality of direct material and raw materials required to manufacture a product.

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

Sell _________ and not ______ is the statement given by steve is...

  1. Company, customers

  2. Desire, wants

  3. Products,dreams

  4. Dreams, product
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This quote is attributed to Steve Jobs, who emphasized that successful marketing focuses on selling the emotional benefits and aspirations (dreams) of the user rather than just the technical specifications of a product.

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

A company engaged in a cohol manufacturing merged with a cigarette manufacturing firm. What type of merger is this?

  1. Horizontal merger

  2. Product extension merger

  3. Market extension merger

  4. Vertical merger.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Horizontal merger is merger of two competition firms doing same business Vertical merger is merger of two companies which are at different level of production operating in same industry. Product extension merger is the merger of two companies which have the same customers with related products and services. The objective is to complement the portfolio and cross-sell products and services and is often driven by economies of scale upstream in sales and marketing.