0

Product mix - class-X

Attempted 0/17 Correct 0 Score 0

Projects which are mutually exclusive but different on scale of production or time of completion then the _____________.

  1. external return method

  2. net present value of method

  3. net future value method

  4. internal return method


Correct Option: B

Which of the following are factors of production?

  1. Land

  2. Labour

  3. Capital

  4. All ofthem


Correct Option: D
Explanation:

Land, Labour, Capital and Enterprise are the four factors of production which are required for running a firm or a company profitably.

The Elements of Marketing mix is described as.

  1. Four P's

  2. Four B's

  3. Three P's

  4. Three B's


Correct Option: A

The Marketing mix denotes.

  1. A combination of various elements in which their totality constitute a firm's "Marketing System"

  2. Vital function to be performed by a business

  3. To analyse the marketing problems

  4. The combination of factors of production


Correct Option: A

Market segmentation enables the industrial market to.

  1. Use only specialist salesman

  2. Divide and conquer

  3. Find the most suitable market for the product

  4. Limit sales and keep up price


Correct Option: C

Working capital is that___________________.

  1. Proportion of a company's capital which is employed in short term operations

  2. Proportion of a company's capital which is employed in long term operations

  3. The amount employed in fixed assets

  4. None of the above


Correct Option: A

Product polices provide.

  1. Readmade answers to the problems

  2. Guideline for efficient planning

  3. Guideline for efficient action

  4. Both (B) and (C)


Correct Option: D

Which is not correct? The stages in new product development are.

  1. Idea generation and screening stage

  2. Business analysis stage and product development

  3. Testing and commercialisation

  4. Backward planning and forward planning stage


Correct Option: D

The process of introducing higher quality products by a manufacturer, whose low quality products are famous, is termed as_______.

  1. Trading up

  2. Trading down

  3. Quality variation

  4. Product line expansion


Correct Option: A

Product policy is concerned with.

  1. Product, quality, guarantees

  2. The character and number of product lines

  3. Product deletion

  4. All of these


Correct Option: D

Mark-up pricing is adopted by.

  1. Industrial suppliers

  2. Contractors

  3. Wholesalers and retailers

  4. All the above


Correct Option: C

Match the following.

$1$. Contactual a) Find out buyers and sellers
$2$. Merchandising b) Producing goods that will satisfy market requirements
$3$. Pricing c) Process of attaching value to the product in monetary term
$4$. Propaganda d) Sales promotion activities
  1. $1$-a, $2$-c, $3$-d, $4$-b

  2. $1$-a, $2$-b, $3$-c, $4$-d

  3. $1$-b, $2$-a, $3$-c, $4$-d

  4. $1$-a, $2$-b, $3$-d, $4$-c


Correct Option: B

A product line strategy wherein a company adds a higher priced product to a line in order to attract a broader market which helps the sale of its existing lower priced products is called ________.

  1. trading up

  2. trading down

  3. life cycle extension

  4. product line extension


Correct Option: A
Explanation:

Trading up is a type of selling in which the customer is persuaded to buy a more expensive item, or a larger quantity of the same item than originally intended in exchange for an attractive discount or some other incentive. 

Availability and ______ of the product was considered to be the key to the success of a firm.

  1. Accountability

  2. Affordability

  3. Price

  4. Quality


Correct Option: B
Explanation:

The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to this vast production, the  products were made affordable for the consumers by decreasing the production cost.

Packaging affects our buying decision.

  1. True

  2. False


Correct Option: A
Explanation:

Product packaging is the process of designing, evaluating and designing packages that protect the products from spoilage, helps in easy transportation and also provide information about the product to consumers. Product promotion is the new consideration as packaging with the help of attractive designs and colors help in drawing people's attention towards the product. This leads to increase sales.

Products can be classified in two categories.

  1. True

  2. False


Correct Option: A
Explanation:

A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Every product is made at a cost and each is sold at a price. The product should be relevant, the users must have an immediate use for it. It can be classified into two categories i.e industrial products which are used to produce further products for consumer use and consumer products which is also known as final good that can be used by consumers. 

______ can be defined as anything that can be offered to a market to satisfy a want or a need.

  1. Product

  2. Market

  3. Package

  4. Price


Correct Option: A
Explanation:

A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Every product is made at a cost and each is sold at a price. The product should be relevant, the users must have an immediate use for it.

- Hide questions