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 163 of 189
- A. activates
- B. interests
- C. opinions
- D. all of above
Explanation: Lifestyle is commonly measured through AIO dimensions: activities, interests and opinions.
Correct answer: all of above- A. price packs
- B. sweepstakes
- C. point of purchase promotions
- D. cash rebates
Explanation: A cash refund or rebate returns part of the purchase price to the consumer after purchase.
Correct answer: cash rebates- A. cash refund
- B. coupon
- C. sample
- D. premium
Explanation: A cash refund is given when the customer sends proof of purchase to the manufacturer and receives part of the price back.
Correct answer: cash refund- A. internal databases
- B. external databases
- C. outsourced databases
- D. both a and b
Explanation: Information generated from a company’s own records, systems, and network is an internal database.
Correct answer: internal databases- A. would buy product
- B. would not buy product
- C. would get free products
- D. would get discount
Explanation: When the perceived value exceeds the price, the product offers positive customer value, making purchase more likely.
Correct answer: would buy product- A. judgment sample
- B. simple random sample
- C. quota sample
- D. convenience sample
Explanation: A probability sample gives members of the population a known chance of selection; a simple random sample is the standard example.
Correct answer: simple random sample- A. cash refunds
- B. cash sample
- C. sweepstakes
- D. cents off deals
Explanation: A sweepstakes asks consumers to submit their names or entries for a random drawing, with winners selected by chance.
Correct answer: sweepstakes- A. Two types
- B. Three types
- C. Four types
- D. Five types
Explanation: Marketing research commonly uses two broad types of research instruments: questionnaires and mechanical instruments such as scanners or…
Correct answer: Two types- A. external databases
- B. outsourced databases
- C. marketing research
- D. both a and b
Explanation: Marketing research is the systematic collection, analysis, and reporting of data relevant to a specific marketing situation.
Correct answer: marketing research- A. organizational promotion
- B. consumer promotions
- C. inbound promotion
- D. outbound promotion
Explanation: Sweepstakes, event sponsorships, product samples, and coupons are consumer-promotion tools because they provide incentives or experiences…
Correct answer: consumer promotions- A. total costs
- B. overhead costs
- C. variable costs
- D. fixed costs
Explanation: Variable costs change in relation to the level of production, such as direct materials or packaging.
Correct answer: variable costs- A. point of differences
- B. points of priority
- C. points of membership category
- D. point of similarities
Explanation: A brand’s superiority is established through points of difference, which are attributes or benefits consumers associate uniquely and…
Correct answer: point of differences- A. floor for cost
- B. ceiling for prices
- C. floor for prices
- D. ceiling for cost
Explanation: Product cost establishes the minimum, or floor, below which a price generally cannot be set profitably.
Correct answer: floor for prices- A. everyday low pricing
- B. high low pricing
- C. low high pricing
- D. both a and b
Explanation: Good-value pricing commonly uses everyday low pricing and high-low pricing to offer acceptable value at different price points.
Correct answer: both a and b- A. Four Cs
- B. Four Ps
- C. Four Ds
- D. Four Ts
Explanation: Marketers should begin with the customer-oriented Four Cs: customer solution, customer cost, convenience, and communication.
Correct answer: Four Cs- A. industry supplies
- B. industry services
- C. business advisory services
- D. accessory equipment
Explanation: Legal advice and management consulting are intangible services that support a firm’s business decisions, so they are classified as…
Correct answer: business advisory services- A. contractual VMS
- B. corporate VMS
- C. administered VMS
- D. all of above
Explanation: A vertical marketing system may be corporate, contractual, or administered, depending on whether control comes from ownership, agreement…
Correct answer: all of above- A. Designing a marketing strategy
- B. Create customer delight
- C. Understanding customer needs and wants
- D. Capturing value from customers
Explanation: Marketing begins by understanding customer needs and wants, because these guide the marketing strategy, product offering, and value…
Correct answer: Understanding customer needs and wants- A. vertical marketing system
- B. static distribution channel
- C. conventional distribution channel
- D. horizontal marketing system
Explanation: A conventional distribution channel contains independent producers, wholesalers, and retailers, each operating separately rather than…
Correct answer: conventional distribution channel- A. $30
- B. $33
- C. $27
- D. $34
Explanation: The required price equals the unit cost plus the profit per unit: $30 + $3 = $33.
Correct answer: $33