Tag: definition and functions of production department

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Multiple choice organisation of commerce and management laws of returns - returns to a factor and returns to scale definition and functions of production department production or works department ideologies/concepts/views of marketing management

The main purpose of market segmentation is?

  1. To measure the changing behavioral pattern of consumers

  2. To select the proper channel of distribution

  3. To have individuality of its own

  4. To identify the level of demand
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market segmentation allows companies to divide a broad market into subsets of consumers with common needs or characteristics. This helps in understanding behavioral patterns and tailoring marketing efforts effectively.

Multiple choice organisation of commerce and management laws of returns - returns to a factor and returns to scale definition and functions of production department production or works department ideologies/concepts/views of marketing management

Benefits of segmentation.
I. This saves resources
II. Consumers are satisfied
III. Concentrated marketing strategy
IV. Easy to introduce new products
Which of the above points are correct?

  1. I and II are correct

  2. I, II and IV are correct

  3. I, II and III are correct

  4. All are correct
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Market segmentation provides benefits such as resource efficiency, improved customer satisfaction, focused marketing strategies, and easier product development for specific niches. All listed points are valid benefits.

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

In which of the following case conducting a market assessment is essential to know whether there exists any demand to the idea?

  1. Starting a new business

  2. Launching a new product

  3. Both (A) & (B)

  4. None of above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Conducting a market assessment is crucial for both starting a new business and launching a new product to ensure there is a viable demand for the offering.

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

Production management is important because _______.

  1. it helps the business firm to achieve all its objectives

  2. it helps the firm to satisfy its customers

  3. it helps to introduce new products in the market

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Production management is essential because it integrates processes that help achieve firm objectives, satisfy customer requirements through quality and availability, and support innovation.

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

In modern world, production management has to perform a variety of functions. Identify them.

  1. Design and development of production process.

  2. Production planning and control.

  3. Implementation of the plan and related activities to produce the desired output.

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

Modern production management encompasses the entire lifecycle of production, including design, planning, control, and implementation to ensure desired output is achieved efficiently.

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

The main traditional function of production management was to control labour costs which at that time constituted the major proportion of costs associated with production.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Historically, before the automation and complexity of modern manufacturing, labor costs were indeed the most significant variable cost in production, making labor control a primary focus.

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

Statement containing details of items to be considered in a meeting is called ______________.

  1. Agenda

  2. Minutes

  3. Resolution

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

An agenda is a list of items to be discussed during a meeting. Minutes are the record of what happened, and a resolution is a formal decision made.

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

Which of the following is active factor of production?

  1. Land

  2. Labour

  3. Capital

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

In economics, land and capital are considered passive factors of production, while labor and organization (entrepreneurship) are considered active factors because they initiate and coordinate the production process.

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

Marketing function includes.

  1. Transportation, storage, and communication

  2. Agents, brokers and dealers

  3. Distributors, jobbers, rack jobber

  4. Transportation, storage and the institutions facilitating the easy movement of goods
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing functions include the physical distribution (transportation, storage) and the institutional framework (facilitating agents, communication) that allows goods to move from producers to consumers.