Tag: functioning of commercial organisation

Quizzes (4) Questions (52)

Questions Related to functioning of commercial organisation

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

Match the following.

$1$. Agents a) Do not take any title to goods
$2$. Merchant middleman b) Take a title to goods
$3$. Resident buyer c) A merchant or occasionally an agent, whose business is selling directly to the ultimate consumer
$4$. Retailer d) An agent or a person who specialises in buying on a fee or commission basis, chiefly for retailers

  1. $1$-a, $2$-b, $3$-c, $4$-d

  2. $1$-b, $2$-c, $3$-a, $4$-d

  3. $1$-a, $2$-b, $3$-d, $4$-c

  4. $1$-a, $2$-c, $3$-d, $4$-b
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Agents (1-a) do not take title to goods; merchant middlemen (2-b) do take title; resident buyers (3-d) specialize in buying on commission; and retailers (4-c) sell directly to consumers. This matches option C.

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

Under __________ buyers may be divided on the basis of the quantity purchased.

  1. Volume segmentation

  2. Life style segmentation

  3. Product segmentation

  4. Benefit segmentation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Volume segmentation divides a market based on the quantity of a product purchased by customers, such as heavy users versus light users.

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

Rack jobbers are most common in the.

  1. Stock markets

  2. Food business

  3. Automobile business

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

Rack jobbers are wholesalers who maintain displays of merchandise in retail stores, commonly found in the food and grocery business where they manage specific product racks.

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

Who is known as 'Functional Middlemen'?

  1. Merchant middlemen

  2. Agent middlemen

  3. Distributors

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

Agent middlemen are known as functional middlemen because they do not take title to the goods they sell; they perform services related to the sale or purchase of goods for a commission.

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

_________ 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.