All Free Management Sciences MCQs with Answers

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

Explanation: A gatekeeper controls access to decision-makers and manages the flow of information within the buying centre.

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

Explanation: Cash Cows have a high relative market share in a low-growth market, so they generate cash and normally require only limited new…

• A. optional product pricing
• B. skimming pricing
• C. penetration pricing
• D. captive product pricing

Explanation: Penetration pricing starts with a relatively low price to attract many buyers quickly and build market share.

• A. flexible channels
• B. chain of channels
• C. channel levels
• D. marketing levels

Explanation: Channel levels refer to the number of intermediary layers between the producer and the final customer, such as wholesalers and retailers.

• A. Cost of investment on marketing
• B. Relative market share
• C. Market growth rate
• D. Relative market share plus market growth rate

Explanation: ROI compares the return earned with the amount invested, so marketing ROI is calculated by dividing net return from the marketing…

• A. optional product pricing
• B. product line pricing
• C. competitive pricing
• D. captive product pricing

Explanation: Captive product pricing applies when a main product requires a related product or consumable to function, allowing the firm to price the…

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

Explanation: A Question Mark has high market growth but a low relative market share, so management must decide whether to invest heavily or withdraw.

• A. prospecting and qualifying
• B. follow up
• C. closing
• D. present and demonstrate

Explanation: After prospecting, pre-approach, and approach, the salesperson presents and demonstrates the product to connect its benefits with the…

• A. low high pricing
• B. every day same pricing
• C. everyday low pricing
• D. high low pricing

Explanation: High-low pricing keeps regular prices relatively high but uses temporary promotions to offer selected products at lower prices.

• A. new task
• B. modified rebuy
• C. straight rebuy
• D. solutions selling

Explanation: Solutions selling provides a complete packaged solution from one supplier, reducing the complexity of coordinating several vendors.

• A. value based pricing
• B. cost based pricing
• C. discount based pricing
• D. ceiling based pricing

Explanation: Cost-based pricing starts with the product cost and adds the desired or target profit margin.

• A. 2 types
• B. 3 types
• C. 4 types
• D. 5 types

Explanation: The growth-share matrix classifies SBUs as stars, cash cows, question marks, and dogs.

• A. nominal selling
• B. territorial selling
• C. team selling
• D. group selling

Explanation: Team selling uses specialists from departments such as finance, engineering, and marketing to handle important or large accounts.

• A. business buyer behavior
• B. derived demand
• C. business buying process
• D. cognitive dissonance

Explanation: Business buying is a formal process that includes identifying needs, finding suppliers, comparing proposals, and selecting the best…

• A. sample
• B. coupon
• C. premium
• D. cash refunds

Explanation: A coupon is a certificate that gives the buyer a specified saving when purchasing a particular product.

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

Explanation: During proposal solicitation, the buyer invites selected suppliers to submit offers explaining how they will meet the stated need.

• A. new task
• B. modified rebuy
• C. straight rebuy
• D. solutions selling

Explanation: A new task occurs when an organization places an order for the first time, so the buying requirements and suppliers must be evaluated from…

• A. acquisition
• B. repetition
• C. merger
• D. new packaging of product

Explanation: A firm can obtain a new product through acquisition by buying another company, a patent, or a product line.

• A. premium
• B. advertising specialties
• C. sample
• D. coupon

Explanation: A sample is a small trial amount offered so customers can experience a product before making a full purchase.

• A. business buyer behavior
• B. derived demand
• C. business buying process
• D. cognitive dissonance

Explanation: Business buyer behavior describes how organizations purchase raw materials, equipment, and other inputs for production or operations.