Business Management

Question 1

1Market research involves

Easy

A. collecting information about customers and competitors B. printing money C. paying staff D. manufacturing goods

Question 2

2After-sales service is part of

Easy

A. customer care B. procurement C. accounting D. production

Question 3

3Penetration pricing is most suitable when demand is

Hard

A. perfectly inelastic B. price inelastic C. zero D. price elastic

Question 4

4A brand is

Easy

A. a price B. a name or symbol that identifies a product C. a factory D. a tax

Question 5

5The marketing mix extended for services adds people, process and

Medium

A. partnership B. physical evidence C. patents D. profit

Question 6

6Price elasticity of demand matters in pricing because

Hard

A. it shows how sales respond to price changes B. it fixes wages C. it measures quality D. it sets costs

Question 7

7The marketing concept focuses on

Easy

A. selling at any cost B. producing whatever is cheapest C. ignoring competitors D. satisfying customer needs profitably

Question 8

8The stage of the product life cycle when sales grow fastest is

Easy

A. decline B. maturity C. growth D. introduction

Question 9

9Market segmentation by age is an example of

Easy

A. psychographic segmentation B. geographic segmentation C. behavioural segmentation D. demographic segmentation

Question 10

10Setting a high price when a new product is launched is

Easy

A. cost-plus pricing B. psychological pricing C. price skimming D. penetration pricing