Question

Question 1:

1)_____ refers to the channels of distribution to final consumers; where and how the product is sold.
A-Price
B-Product
C-Place
D-Promotion

2)______ are the day to day running costs of a business organization, including insurance charges, loan repayments, cleaning office costs.
A-Indirect costs
B-Variable Costs
C-Direct Costs
D-Total Costs

3)Marketing involves______ consumer wants.
A-Anticipating, identifying, generating and satisfying
B-Anticipating, identifying, forecasting and expecting
C-Anticipating, forecasting, forseeing and expecting
D-Anticipation, identifying, generating and expecting

4)______ involves identifying and advertising a job vacancy:
A-Job Analysis
B-Recruitment
C-Staffing
D-Selection

5)______ provides information about a product to a consumer.
A-Pricing
B-Distribution
C-Informative advertising
D-Persuasive advertising

6)Which of the following is not true about the Decline stage of the product life cycle?
A-The product may be withdrawn from some outlets
B-Changes in tastes and the introduction of new products cause sales and profit decline.
C-Production may eventually stop
D-Changes in tastes and the introduction of new products cause sales and profit to increase.

7)______ is divided into several stages characterized by the sales revenue and profit generated by the product over time.
A-Product life cycle analysis
B-Product life cycle
C-Launch
D-Development

8)Which of the following is not among the financial rewards paid by the organizations?
A-Salaries
B-Free Medical insurance
C-Wages
D-Commission

9)______ involves choosing the right candidate to fill the vacancy.
A-Job Analysis
B-Selection
C-Staffing
D-Recruitment

10)The last stage of the product life cycle is ______:
A-Launch
B-Growth
C-Development
D-Extension

11)Change in consumer ______ and the amount of ______ between producers can affect the volume and value of different goods and services sold.
A-Competition, Demand
B-Demand, purchase
C-Competition, purchase
D-Demand, Competition

12)______ involves marketing communications using mass advertising media.
A-Below the line promotion
B-Personal selling
C-Direct marketing
D-Above the line promotion

13)If a small increase in the price of a product causes demand and total sales revenue to fall significantly then consumer demand for that product is ______:
A-Price elastic
B-Price inelastic
C-Improving
D-Increasing

14)______ is used to calculate the minimum level of output a business will need to produce and sell to cover its costs and to examine the impact that changes in costs, prices and sales could have on profits.
A-Breakeven Analysis
B-Breakeven level of output
C-Lean production
D-Factor substitution

15)A job description is used to produce a ______ listing the skills, qualifications, experience and personal qualities a person will need to do the job effectively.
A-Job Specification
B-Selection
C-Job Analysis
D-Recruitment

16)Average cost per unit is equal to ______:
A-Total output / Total Cost
B-Total Revenue / Total Cost
C-Total Cost / Total Revenue
D-Total Cost/ Total output

17)During the ______ stage, products, pricing strategies and promotions may be redesigned and re-launched to persuade consumers to continue buying the product because it has been improved.
A-Growth
B-Development
C-Launch
D-Extension

18)Which of the following is not among the methods used to improve productive efficiency?
A-Training employees
B-Improving the work environment
C-Punishing employees
D-Rewarding employees

19)Which of the following is not among the sales incentives that can be adopted by organizations when doing marketing?
A-Competitions
B-Personal selling
C-Money off coupons
D-BOGOF

20)Which of the following statements is correct?
A-None of the options
B-Changes in technology and government policy do not affect markets
C-Changes in technology and government policy can affect markets.
D-Changes in consumer demand do not affect the value of different goods and services sold.
21)______ refers to brand name and product image; advertising and other promotions to raise consumer awareness.
A-Promotion
B-Price
C-Product
D-Place

22)______ are normally one-off lump sums paid to employees who have performed well.
A-Bonus Payments
B-Employee share ownership
C-Commission
D-Profit Sharing

23)______ involves efforts to establish and maintain a good image for a company and its products with the general public.
A-Point of sale promotion
B-Public relations
C-Publicity
D-Personal Selling

24)_______ is that level of production which, if sold, will generate total revenue that will exactly equal total cost.
A-Break-even level of output
B-Average utilization
C-Economies of scale
D-Fixed cost

25)”Retail sales are highly price sensitive” is an example on organizational ______:
A-Strength
B-Threat
C-Weakness
D-Opportunity

Answer 1

1) Place refers to the channels of distribution to final consumers; where and how the product is sold.

2) Variable costs are the day to day running costs of a business organization, including insurance charges, loan repayments, cleaning office costs.

Variable costs are the major part of running a business. It includes the daily expenses incurred by the businesses.

3) Marketing involves anticipating, identifying, generating and satisfying consumer wants.

Marketing is the process of identifying, anticipating, generating and satisfying consumer wants. Marketing is mainly used to attract customers.

4) Recruitment involves identifying and advertising a job vacancy.

5) Informative advertising provides information about a product to a consumer.

Informative advertising is advertising that provides information about a product.

6) The following is not true about the Decline stage of the product life cycle:

Changes in tastes and the introduction of new products cause sales and profit to increase

At the decline stage of the product life cycle, the sales drop and production is ultimately stopped. Two factors responsible for decline in product sale are:
Changes in consumers' taste and introduction of new products by rivalries.

7) Product life cycle is divided into several stages characterized by the sales revenue and profit generated by the product over time.

8) Free Medical insurance is not the financial rewards paid by the organizations

9) Recruitment involves choosing the right candidate to fill the vacancy.

Recruitment involves everything starting from identifying, screening, shortlisting, interviewing, selecting, hiring to onboarding employees.

10) The last stage of the product life cycle is Extension.

After research and development product is launched into the product, then at growth stage sales are increasing at the fastest rate. At the end extension of the product starts to increase the sales volume.