Question

In: Finance

1-______ are normally one-off lump sums paid to employees who have performed well. * A)Employee share...

1-______ are normally one-off lump sums paid to employees who have performed well. *

A)Employee share ownership

B)Profit Sharing

C)Commission

D)Bonus Payments

2-Which of the following is not among the financial rewards paid by the organizations? *

A)Commission

B)Wages

C)Salaries

D)Free Medical insurance

3-______ provides information about a product to a consumer. *

A)Distribution

B)Pricing

C)Informative advertising

D)Persuasive advertising

4-Which of the following is not among the methods used to improve productive efficiency? *

A)Punishing employees

B)Improving the work enviromen

C)Rewarding employees

D)Training employees

5-______ is divided into several stages characterized by the sales revenue and profit generated by the product over time. *

A)Launch

B)Development

C)Product life cycle analysis

D)Product life cycle

6-Which of the following is not among the sales incentives that can be adopted by organizations when doing marketing? *

A)Personal selling

B)BOGOF

C)Money off coupons

D)Competitions

7-Which of the following statements is correct? *

A)Changes in consumer demand do not affect the value of different goods and services sold.

B)None of the options

C)Changes in technology and government policy can affect markets.

D)Changes in technology and government policy do not affect markets

8-Average cost per unit is equal to ______: *

A)Total Cost/ Total output

B)Total Cost / Total Revenue

C)Total Revenue / Total Cost

D)Total output / Total Cost

9-______ involves marketing communications using mass advertising media. *

A)Personal selling

B)Above the line promotion

C)Below the line promotion

D)Direct marketing

10-______ involves choosing the right candidate to fill the vacancy. *

A)Recruitment

B)Selection

C)Staffing

D)Job Analysis

11-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)Extension

B)Launch

C)Growth

D)Development

12-______ refers to brand name and product image; advertising and other promotions to raise consumer awareness. *

A)Product

B)Price

C)Place

D)Promotion

13-______ involves identifying and advertising a job vacancy: *

A)Recruitment

B)Staffing

C)Job Analysis

D)Selection

14-“Retail sales are highly price sensitive” is an example on organizational ______: *

A)Strength

B)Threat

C)Weakness

D)Opportunity

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

A)Direct Costs

B)Total Costs

C)Variable Costs

D)Indirect costs

16-______ involves efforts to establish and maintain a good image for a company and its products with the general public. *

A)Personal Selling

B)Publicity

C)Public relations

D)Point of sale promotion

17-_____ refers to the channels of distribution to final consumers; where and how the product is sold. *

A)Place

B)Promotion

C)Price

D)Product

18-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)Selection

B)Recruitment

C)Job Analysis

D)Job Specification

19-_______ is that level of production which, if sold, will generate total revenue that will exactly equal total cost. *

A)Average utilization

B)Economies of scale

C)Fixed cost

D)Break-even level of output

20-The last stage of the product life cycle is ______: *

A)Launch

B)Growth

C)Development

D)Extension

21-Change in consumer ______ and the amount of ______ between producers can affect the volume and value of different goods and services sold. *

A)Demand, purchase

B)Competition, purchase

C)Demand, Competition

D)Competition, Demand

22-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 inelastic

B)Increasing

C)Improving

D)Price elastic

23-Marketing involves______ consumer wants. *

A)Anticipating, identifying, forecasting and expecting

B)Anticipating, forecasting, forseeing and expecting

C)Anticipating, identifying, generating and satisfying

D)Anticipation, identifying, generating and expecting

24-Which of the following is not true about the Decline stage of the product life cycle? *

A)Production may eventually stop

B)Changes in tastes and the introduction of new products cause sales and profit decline.

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

D)The product may be withdrawn from some outlets

25-______ 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

Expert Solution

Answers of choose the correct option

Q1) D) Bonus Payment

Explanation: This is the only lump sum financial reward by organization

Q2) D) Free medical insurance

Explanation: Free medical insurance is not a reward but a perquisites.

Q3) C) Informative advertising

Explanation: This kind of advertising informs the customer about the product

Q4) A) Punishing employees

Explanation: It is not a technique to improve efficiency

Q5) C) Product life cycle analysis

Explanation:

Q6) D) Competitions

Explanation: It is not a sales incentive to do marketing

Q7) C) Changes in technology and government policy can affect market

Explanation: Any change in government policy and technology can affect the market

Q8) A) Total cost / Total output

Explanation: Cost per unit= total cost/total output

Q9) B) Above the line promotion

Explanation: Above the line promotion require mass media advertising because it targets mass.

Q10) B) Selection

Explanation: Slection refers to choosing the right candidate for job

Q11) A) Extension stage

Explanation: It is the stage , where we need to redesign and improve the product to maintain the sale.

Q12) D) Promotion

Explanation: It refers to advertising of product image , features and brand name.

Q13) A) Recruitment

Explanation: Recruitment is the process of attracting candidate and filling the vacancy.

Q14) B) Threat

Explanation: Threat are something which cannot be avoided but we can find ways to deal with it.

Q15) C) Variable cost

Explanation: Variable cost is the cost which takes into account the day to day running cost.

Q16) C) Public relations

Explanation: Public relatios require a lot of effort to build and maintain the brand image and loyalty.

Q17) A) place

Explanation: Place is the P where customers receive their goods.

Q18) D) job specification

Explanation: This specifies the qualification, skills and features a candidate should posses to perform the work effectively

Q19) D) Break even level of output

Explanation: Breakeven point is the point where their is no loss or profit.

Q20) D) Extension

Explanation: The last stage of production life cycle is extension

jeff jeffy answered 1 year ago

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