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 150 of 189
- A. outbound franchisor
- B. franchisee
- C. wholesaler
- D. franchisor
Explanation: A wholesaler is an independent firm that purchases or handles goods for resale to retailers and other business users.
Correct answer: wholesaler- A. selective store
- B. extensive store
- C. exclusive store
- D. convenience stores
Explanation: Convenience stores are situated close to residential areas, carry a narrow range of frequently needed products, and usually operate for…
Correct answer: convenience stores- A. specialty stores
- B. department store
- C. discount store
- D. super store
Explanation: Walmart and Target are classic discount retailers because they sell a broad range of merchandise at relatively low prices and margins.
Correct answer: discount store- A. web wholesalers
- B. brokers
- C. agent
- D. drop shippers
Explanation: An agent represents buyers or sellers and negotiates transactions without taking title to the goods, usually performing fewer functions…
Correct answer: agent- A. outbound store
- B. inbound store
- C. department store
- D. intensive store
Explanation: Sears is a department store because it offers several broad merchandise lines, such as clothing, appliances, and household goods, through…
Correct answer: department store- A. factory outlets
- B. warehouse clubs
- C. factory clubs
- D. surplus center
Explanation: Warehouse clubs sell a limited assortment of goods, often including groceries and recognised brands, at discounted prices to customers who…
Correct answer: warehouse clubs- A. selective market
- B. super market
- C. extensive market
- D. exclusive market
Explanation: Supermarkets use self-service, high sales volume, and relatively low margins to meet consumers' regular grocery needs.
Correct answer: super market- A. services mix
- B. product assortment
- C. store atmosphere
- D. all of above
Explanation: Retailers must decide their product assortment, the services mix provided to customers, and the store atmosphere that shapes the shopping…
Correct answer: all of above- A. wheel of mega retailers
- B. wheel of retailing concept
- C. cycle of retailers
- D. retailers discount concept
Explanation: The wheel of retailing describes how retailers often enter with low prices, low margins, and limited services, then add facilities and…
Correct answer: wheel of retailing concept- A. franchise
- B. relative stores
- C. chain stores
- D. off price voluntary stores
Explanation: A franchise is a contractual arrangement in which a franchisor grants a business person the right to operate a unit using its brand…
Correct answer: franchise- A. assess needs of customer
- B. set target price
- C. determine incurred costs
- D. design product
Explanation: Value-based pricing begins by assessing customer needs and perceived value, then sets a target price before determining costs and…
Correct answer: determine incurred costs- A. agents and brokers
- B. manufacturer's sales branches
- C. voluntary franchise chain
- D. merchant wholesalers
Explanation: Merchant wholesalers are independent intermediaries that buy goods, take title to them, and resell them.
Correct answer: merchant wholesalers- A. factory outlets
- B. warehouse clubs
- C. factory clubs
- D. surplus center
Explanation: Factory outlets are owned and operated by manufacturers to sell surplus, irregular, or discontinued goods, often at reduced prices.
Correct answer: factory outlets- A. category killer
- B. discount killer
- C. limited inbound retailers
- D. limited outbound retailers
Explanation: A category killer is a large specialty retailer with a deep assortment in one product category and knowledgeable service staff.
Correct answer: category killer- A. voluntary franchise
- B. involuntary cooperative
- C. retailer cooperative
- D. voluntary cooperative
Explanation: A retailer cooperative is formed when independent retailers establish a jointly owned wholesale operation and coordinate promotional…
Correct answer: retailer cooperative- A. specialty line handlers
- B. corporate units
- C. franchisor
- D. franchisee
Explanation: Franchisees are the independent business operators who use the franchisor's system, brand, and support in return for agreed fees or…
Correct answer: franchisee- A. superstore
- B. outbound stores
- C. inbound stores
- D. intensive stores
Explanation: Best Buy, Staples, and PetSmart are superstores, large specialty retailers offering extensive assortments within particular product…
Correct answer: superstore- A. industry capital items
- B. industry material and parts
- C. office equipment
- D. specialty industrial products
Explanation: Generators, drill presses, and elevators are capital items because they are long-term fixed equipment used in business operations.
Correct answer: industry capital items- A. convenience sought products
- B. unsought industrial products
- C. sought non-specialty products
- D. shopping products
Explanation: Televisions and refrigerators are shopping products because buyers compare their quality, features, price, and style before purchase.
Correct answer: shopping products- A. sought specialty products
- B. augmented industrial product
- C. unsought shopping products
- D. unsought consumer products
Explanation: Unsought consumer products are not normally sought by customers and therefore require strong promotion and personal selling, such as…
Correct answer: unsought consumer products