All Free Management Sciences MCQs with Answers
Every Management Sciences question in the bank, across all chapters, each with the correct answer and a written explanation. Free and unlimited, with no account needed.
3,770 questions · page 146 of 189
- A. subsistence economies
- B. industrial economies
- C. developing economies
- D. none of above
Explanation: Subsistence economies consume much of their own agricultural and industrial output and therefore offer relatively few market…
Correct answer: subsistence economies- A. $11.43
- B. $21.43
- C. $25.43
- D. $15.43
Explanation: With a desired return on sales of 30%, price equals unit cost divided by one minus the target return: $15 ÷ 0.70 = $21.43.
Correct answer: $21.43- A. Macro environment
- B. Microenvironment
- C. Both a and b
- D. None of above
Explanation: Customer markets and publics are groups in the company's immediate operating environment, so they belong to the microenvironment.
Correct answer: Microenvironment- A. business markets
- B. international markets
- C. consumer markets
- D. government markets
Explanation: Consumer markets consist of individuals and households buying goods and services for personal use.
Correct answer: consumer markets- A. awareness stage
- B. interest stage
- C. evaluation and trial stage
- D. adoption
Explanation: During evaluation, a prospective customer weighs whether the product is worth trying, often followed by a limited trial before adoption.
Correct answer: evaluation and trial stage- A. The company
- B. The suppliers
- C. The marketing intermediaries
- D. All of above
Explanation: The microenvironment includes the company itself, its suppliers and its marketing intermediaries, along with customers, competitors and…
Correct answer: All of above- A. business markets
- B. reseller markets
- C. government markets
- D. international markets
Explanation: International markets include buyers located in countries other than the seller’s home country.
Correct answer: international markets- A. renewable resources
- B. non-renewable resource
- C. Both a and b
- D. none of above
Explanation: Oil, coal, natural gas, and minerals exist in finite quantities and cannot be replenished on a human time scale, so they are non-renewable…
Correct answer: non-renewable resource- A. need recognition
- B. information search
- C. evaluation of alternatives
- D. both b and c
Explanation: The buyer decision process begins when a consumer recognizes a need or problem.
Correct answer: need recognition- A. de-augmented product
- B. actual services
- C. augmented products
- D. consumer products
Explanation: Consumer products are classified according to consumers’ needs, buying habits, and purchasing behaviour.
Correct answer: consumer products- A. high
- B. low
- C. average
- D. moderate
Explanation: During maturity, sales volume is high and production and promotional efficiencies generally reduce cost per customer to a low level.
Correct answer: low- A. basing point pricing
- B. uniform delivered pricing
- C. freight on board origin pricing
- D. zone pricing
Explanation: Under FOB origin pricing, the buyer pays the freight from the seller’s factory or shipping point to the destination.
Correct answer: freight on board origin pricing- A. price maintenance
- B. discriminatory pricing
- C. price fixing
- D. predatory pricing
Explanation: Predatory pricing occurs when a powerful seller prices below cost to drive competitors out and later strengthen its market position.
Correct answer: predatory pricing- A. specialty products
- B. non-shopping products
- C. augmented products
- D. shopping products
Explanation: Furniture is generally a shopping product because consumers compare its quality, style, price, and suitability across sellers before…
Correct answer: shopping products- A. bi-product pricing
- B. optional product pricing
- C. Two way pricing
- D. Two part pricing
Explanation: Optional-product pricing charges separately for products that complement the main purchase but are not essential, such as a Bluetooth…
Correct answer: optional product pricing- A. perception
- B. brand image
- C. self-concept
- D. self-image
Explanation: Perception is the process by which consumers select, organize and interpret information to create a meaningful view of the world.
Correct answer: perception- A. growth stage
- B. repetition stage
- C. turbulent stage
- D. non-turbulent
Explanation: The growth stage follows introduction and is marked by rapid market acceptance, rising sales and usually increasing profits.
Correct answer: growth stage- A. shopping products
- B. specialty products
- C. unsought products
- D. sought products
Explanation: Shopping products are bought less frequently and involve comparison of quality, price and style before purchase.
Correct answer: shopping products- A. core customer value
- B. positioning strategy
- C. actual product
- D. actual ownership
Explanation: Packaging is a feature of the actual product, along with its design, quality, brand name and features.
Correct answer: actual product- A. maturity stage
- B. productive stage
- C. improved market stage
- D. profit achieved stage
Explanation: The maturity stage begins when the product has gained acceptance among most potential buyers, although sales growth then starts to slow.
Correct answer: maturity stage