Tag: ideologies/concepts/views of marketing management

Questions Related to 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 ______.

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

  1. production research

  2. marketing research

  3. employee research

  4. none of these

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Correct Option: B

Expansion is external and horizontal.

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

  1. True

  2. False

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Correct Option: A
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.

Why do companies spend on research and development?

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

  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

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Correct Option: B
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.

An opportunity assessment plan includes which of the following?

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

  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

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Correct Option: D

After defining the problem, the next step in relation to a market assessment is to _________.

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

  1. obtaining data specific to the problem

  2. analyzing the situation

  3. data analysis and Interpretation

  4. fostering ideas and problem solving

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Correct Option: B

Due to the demand of _______ goods, the demand exceeded the supply during the early days of industrial revolution.

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

  1. homemade

  2. conventional

  3. daily

  4. industrial

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Correct Option: D
Explanation:

The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools, industrial goods and factory system.

Producing on a large scale reduces the _________ of the product.

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

  1. Average cost

  2. Average price

  3. Average profit

  4. Average time

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Correct Option: A
Explanation:

The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to the use of machine, large number of goods could be produced in a very short period of time. Vast number of goods were produced in a smaller period of time due to which the average cost of production reduced. This increased the profitability of the products and company earned good revenue.

Greater emphasis was placed on _______ the product.

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

  1. Increasing

  2. Decreasing

  3. Sustaining

  4. Improving

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Correct Option: D
Explanation:

With the help of industrial revolution, the production became much easier and cheaper. To attract the consumer's to buy the company's product in competition to the rivals, the company had to improve the quality and features of the product.

______ could be maximized by producing at large scale. 

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

  1. Sales

  2. Value

  3. Profits

  4. Equity

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Correct Option: C
Explanation:

The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to the use of machine, large number of goods could be produced in a very short period of time. This increased the profitability of the products and company earned good revenue.

Industrial revolution brought in the changes in ______ system.

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

  1. Distribution

  2. Selling

  3. Packaging

  4. Production

Show answer
Correct Option: D
Explanation:

The industrial revolution was the transition to new manufacturing process. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. More and more companies started undertaking new production method after looking at the benefits offered by industrial revolution.