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

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.

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

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

  1. obtaining data specific to the problem

  2. analyzing the situation

  3. data analysis and Interpretation

  4. fostering ideas and problem solving
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

After defining the problem, the next logical step in market assessment is to analyze the current situation to understand the context before collecting new data or interpreting results.

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

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

  1. homemade

  2. conventional

  3. daily

  4. industrial
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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

  1. Average cost

  2. Average price

  3. Average profit

  4. Average time
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

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

Greater emphasis was placed on _______ the product.

  1. Increasing

  2. Decreasing

  3. Sustaining

  4. Improving
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

______ could be maximized by producing at large scale. 

  1. Sales

  2. Value

  3. Profits

  4. Equity
Reveal answer Fill a bubble to check yourself
C Correct answer
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.