All Free Management Sciences MCQs with Answers

• A. elastic demand
• B. inelastic demand
• C. realistic demand
• D. unrealistic demand

Explanation: Inelastic demand changes little when price changes, particularly over a short period when customers have few substitutes or limited time…

• A. by-product pricing
• B. captive product pricing
• C. optional product pricing
• D. Two part pricing

Explanation: By-product pricing sets prices for secondary outputs so their revenue can offset costs and allow the main product to be priced more…

• A. Strengths
• B. Weaknesses
• C. Opportunities
• D. Threats

Explanation: New markets abroad are external possibilities that a firm may exploit, so they are classified as opportunities in SWOT analysis.

• A. supplier selection
• B. proposal solicitation
• C. performance review
• D. order-routine specification

Explanation: Performance review is the final business-buying stage in which the buyer evaluates whether the supplier met the agreed standards.

• A. product class
• B. product form
• C. brand
• D. all of above

Explanation: The product life cycle can be applied to a product class, a specific product form, or an individual brand, so all listed levels are…

• A. elastic demand
• B. inelastic demand
• C. realistic demand
• D. unrealistic demand

Explanation: Elastic demand changes substantially when price changes, including over a short period, so the correct term is elastic demand.

• A. deceptive pricing
• B. price discrimination
• C. resale price maintenance
• D. fix quantity pricing

Explanation: Resale price maintenance concerns a manufacturer's attempt to control the price charged by dealers or retailers when reselling the…

• A. cash discount
• B. seasonal discount
• C. functional discount
• D. quantity discount

Explanation: A quantity discount is granted when buyers purchase large volumes, rewarding bulk orders with a lower unit price.

• A. e-procurement
• B. de-procurement
• C. online selling
• D. direct marketing

Explanation: E-procurement is the online purchasing of goods or raw materials by businesses, including electronic transactions between buyers and…

• A. low sales
• B. rapidly rising sales
• C. peak sales
• D. declining sales

Explanation: The decline stage is marked by falling sales as demand weakens or newer substitutes appear.

• A. target market
• B. planned value proposition
• C. sales, profit goals, market share
• D. developing mission statement

Explanation: The marketing strategy statement usually begins by identifying the target market, then states the planned value proposition and…

• A. product classes
• B. product forms
• C. branding
• D. product perception

Explanation: Product forms, such as particular models or versions of a product, typically show the classic introduction, growth, maturity and decline…

• A. introductory stage
• B. business analysis stage
• C. market analysis stage
• D. product marketing stage

Explanation: The introductory stage begins when a newly developed product is launched and first made available for purchase.

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

Explanation: Public relations is a communication activity used to inform and influence the public, so it belongs to promotion in the marketing mix.

• A. freight on board origin pricing
• B. zone pricing
• C. basing point pricing
• D. uniform delivered pricing

Explanation: Zone pricing divides the market geographically and charges one delivered price within each zone.

• A. real
• B. win
• C. worth doing
• D. less worthy

Explanation: In the R-W-W test, “win” asks whether the company can gain a competitive advantage and succeed against rivals.

• A. idea generation
• B. product development
• C. idea screening
• D. business screening

Explanation: Idea screening is the second step after idea generation. It removes weak ideas before the firm spends resources on concept development…

• A. promotional pricing
• B. short term pricing
• C. quick pricing
• D. cyclical pricing

Explanation: Promotional pricing temporarily reduces the normal price or adds an incentive to stimulate immediate sales.

• A. user
• B. influencer
• C. decider and gatekeeper
• D. buyer

Explanation: Users are the people who directly operate or consume the purchased product.

• A. supplier selection
• B. proposal solicitation
• C. supplier search
• D. order-routine specification

Explanation: After suppliers are selected, the buyer prepares the order-routine specification, covering items such as quantities, delivery schedules…