All Free Management Sciences MCQs with Answers

• A. augmented product
• B. consumer products
• C. industrial products
• D. intangible services

Explanation: Consumer products are goods or services purchased for personal or household use.

• A. competition based pricing
• B. customer value based pricing
• C. cost based pricing
• D. discount and bonus pricing

Explanation: The three major pricing approaches are customer-value-based, cost-based, and competition-based pricing.

• A. Stars
• B. Cash Cows
• C. Question marks
• D. Dogs

Explanation: In the BCG growth-share matrix, a high-market-growth and high-relative-market-share business is a Star.

• A. deficient products
• B. pleasing products
• C. salutary products
• D. desirable products

Explanation: Desirable products provide both immediate satisfaction and long-term benefits, combining the consumer appeal of pleasing products with the…

• A. deficient products
• B. pleasing products
• C. salutary products
• D. desirable products

Explanation: Salutary products may not be attractive or satisfying immediately, but they provide long-term benefits, such as healthier or safer…

• A. Targeting
• B. Market segmentation
• C. Positioning
• D. Differentiation

Explanation: Targeting follows segmentation and involves evaluating segments for attractiveness and profitability before selecting which ones to serve.

• A. price
• B. tax
• C. discount
• D. value added tax

Explanation: Price is the only marketing-mix element that directly generates revenue; product, place and promotion require expenditure.

• A. Stars
• B. Dogs
• C. Cash Cows
• D. Question marks

Explanation: In the BCG matrix, SBUs with low market share in a low-growth market are Dogs.

• A. deficient products
• B. pleasing products
• C. salutary products
• D. desirable products

Explanation: Deficient products provide neither immediate satisfaction nor long-term benefits to consumers.

• A. Vision statement
• B. Mission statement
• C. Value proposition
• D. Both a and b

Explanation: An organization's purpose explains why it exists and what it seeks to accomplish, which is expressed in its mission statement.

• A. Place
• B. Product
• C. Price
• D. Promotion

Explanation: Credit terms affect the amount and timing of payment, so they are part of pricing decisions.

• A. social class
• B. culture
• C. subculture
• D. both b and c

Explanation: A social class is a relatively permanent, structured division of society whose members share values, interests and often socioeconomic…

• A. Market development
• B. Market penetration
• C. Product development
• D. Diversification

Explanation: Market penetration means selling more of an existing product to an existing market, usually through promotion, pricing or wider…

• A. target costing
• B. marginal costing
• C. learning curve costing
• D. demand based costing

Explanation: Target costing begins with the price customers are expected to accept and subtracts the required profit to determine the allowable…

• A. Heavy investment
• B. Less investments
• C. More marketing
• D. Both a and c

Explanation: Stars have high market share in high-growth markets, so they usually require heavy investment to maintain their position and finance…

• A. services
• B. products
• C. commodity
• D. competitive edge

Explanation: A service is an essentially intangible market offering, although it may be delivered alongside physical goods.

• A. mass marketing
• B. segmented marketing
• C. niche marketing
• D. micromarketing

Explanation: Mass marketing uses one broadly designed marketing mix for a large market rather than tailoring it to narrow segments.

• A. late majority
• B. early majority
• C. laggard
• D. early adopter

Explanation: Laggards are the last adoption group and may accept an innovation only when it is widely established or has become traditional.

• A. geographic segmentation
• B. demographic segmentation
• C. psychographic segmentation
• D. behavioral segmentation

Explanation: Climate varies by location, so dividing a market according to climate is geographic segmentation.

• A. outdoorsy and tough
• B. daring and imaginative
• C. cheerful and wholesome
• D. charming and upper class

Explanation: Sincerity is associated with being down-to-earth, honest, wholesome and cheerful, matching option c.