All Free Management Sciences MCQs with Answers

• A. None of above
• B. One buyer, many sellers
• C. many sellers, many buyers
• D. One seller, many buyers

Explanation: In a Dutch auction, the auctioneer starts with a high price and lowers it until a buyer accepts, so the usual structure is one seller and…

• A. Dutch auctions
• B. English auctions
• C. Australian auctions
• D. Sealed-bid auctions

Explanation: Dutch auctions can operate in either direction: a seller lowers the price for many buyers, or a buyer lowers the acceptable price among…

• A. channel pricing
• B. image pricing
• C. customer segment pricing
• D. product-form pricing

Explanation: Image pricing charges different prices for essentially the same offering because consumers perceive different images or prestige levels.

• A. unit cost
• B. target return price
• C. break-even volume
• D. target return cost

Explanation: Break-even volume is calculated as fixed cost divided by the contribution per unit, where contribution equals selling price minus variable…

• A. non-functional discount
• B. descriptive discount
• C. quantity discount
• D. functional discount

Explanation: A functional discount is granted to channel members for performing distribution functions such as storage, selling, or delivery.

• A. current products in new market
• B. current product in current market
• C. new products for new markets
• D. new products in new market

Explanation: Market penetration seeks greater sales of an existing product in an existing market, often through promotion, wider distribution, or…

• A. Four phases
• B. Three phases
• C. Five phases
• D. Six phases

Explanation: The value creation and delivery sequence has three phases: choosing the value, providing the value, and communicating the value.

• A. room service alliances
• B. transport alliances
• C. pricing collaborations
• D. special discounts

Explanation: When related businesses such as hotels and rental-car companies coordinate offers or discounts, they are collaborating in pricing to…

• A. communicating the value
• B. choosing the value
• C. making the value
• D. providing the value

Explanation: The sequence begins by choosing the value, followed by providing it and then communicating it.

• A. new products in current markets
• B. current product in current market
• C. new products in new market
• D. new products for new markets

Explanation: Product development means introducing new or improved products to a company’s existing markets.

• A. procurement
• B. technology development
• C. all of the above
• D. infrastructure of firm

Explanation: Support activities in Porter’s value chain include procurement, technology development, and firm infrastructure, along with human-resource…

• A. determining specific features
• B. determining product price
• C. determining product inventory
• D. both A and B

Explanation: Providing value covers decisions that turn the chosen value into a market offering, including product features and pricing.

• A. customer acquisition process
• B. customer relationship management
• C. the new-offering process
• D. the strategic management process

Explanation: Customer relationship management builds customer understanding, develops individualised offerings and strengthens long-term relationships.

• A. Six support activities
• B. Five support activities
• C. Four support activities
• D. Seven support activates

Explanation: Porter's value chain divides activities into primary activities and four support activities: firm infrastructure, human resource…

• A. choosing the value
• B. communicating the value
• C. providing the value
• D. making the superior product

Explanation: The value creation sequence consists of choosing value, providing value and communicating value.

• A. tactical marketing plan
• B. market opportunities
• C. strategic marketing plan
• D. firm's financial plan

Explanation: A tactical marketing plan translates broad strategy into practical actions such as marketing tactics, merchandising and customer service.

• A. corporate level
• B. business level
• C. division level
• D. decision level

Explanation: At the division level, management decides how resources or funds should be allocated among the business units under that division.

• A. diversified market
• B. company
• C. conglomerate
• D. organization

Explanation: An organization includes the structure, policies and corporate culture through which a firm responds to changes in its environment.

• A. organizational culture
• B. departmental culture
• C. business environment
• D. analytical environment

Explanation: Organizational culture is the shared system of values, norms, stories and beliefs that shapes how members of an organization think and…

• A. utilizing the competencies
• B. utilizing raw materials
• C. utilizing the social media sources
• D. utilizing the capabilities

Explanation: Communicating value involves promotion and interaction with customers, including the use of social media channels.