Top 250+ Solved Functional Areas of Business MCQ Questions Answer
Q. A strategy of setting a high price for a new product in the market so that the company makes fewer but more profitable sales is
a. Market-skimming pricing
b. Market-penetration pricing
c. Captive-product pricing
d. Inflation
Q. Using _________________, sellers often combine several of their products and offer the bundle at a reduced price.
a. Discount and allowance pricing
b. Product bundle pricing
c. Promotional pricing
d. Psychological pricing
Q. In the marketing mix, the process of moving products from the producers to the intended users is called
a. placing
b. retailing
c. wholesaling
d. positioning
Q. During each stage in the development of a retail strategy, retail managers should:
a. consider only controllable variables
b. refrain from “fine tuning” the strategy
c. look for both positive and negative feedback
d. consider no problems with the government to be a form of negative feedback
Q. The promotion mix involves
a. advertising
b. sales promotion
c. personal selling
d. all of the above
Q. The process of marketing communication involving information, persuasion andinfluence is called
a. Marketing
b. Marketing Mix
c. Branding
d. Promotion
Q. When a firm introduces new product to a market in which it is well established it is called
a. Diversification
b. Product development
c. Market penetration
d. Test marketing
Q. When a present product is introduced to a new market it is called
a. Market development
b. Market penetration
c. Development strategy
d. Product innovation
Q. Trade links connecting the manufacturers or producers and the intended consumers is called
a. Wholesalers
b. Retailers
c. Channels of distribution
d. Middlemen
Q. Middlemen who do not handle the goods in the capacity of owners but render services and get paid in the form of commission are called
a. Wholesalers
b. Mercantile agents
c. Merchant middlemen
d. None of the above
Q. Consumer reaction and response is a yardstick use in
a. Pricing of a product
b. Psychological pricing
c. Price leadership
d. Tariff
Q. The concept of marketing mix as the combination of the major tools of marketing wasfirst developed by
a. Borden
b. Mc Carthy
c. Mark & Spencer
d. HaagenDaz
Q. An Extended marketing mix, the 7 Ps was proposed by Booms and Bitner in the year
a. 1982
b. 1981
c. 1980
d. 1983
Q. For consumer goods, the most visible player in the channel of distribution is the
a. retailer
b. wholesaler
c. producer
d. consumer
Q. _____ do not normally deal with the end consumer but with other intermediaries
a. wholesalers
b. retailers
c. distributors
d. franchisees