All Free Management Sciences MCQs with Answers

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

Explanation: After suppliers submit proposals and the buyer reviews them, the next step is to select the supplier that best meets the requirements.

• A. good value pricing
• B. cost plus pricing
• C. value added pricing
• D. quality based pricing

Explanation: Good-value pricing combines acceptable quality and service with a fair, reasonable price.

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

Explanation: The buyer has formal authority to select suppliers and arrange the purchase terms in a business buying centre.

• A. real-worth doing-win
• B. win-real-worth doing
• C. worth doing-real-win
• D. real-win-worth doing

Explanation: The R-W-W screening framework asks whether the product idea is Real, whether the firm can Win, and whether it is Worth doing.

• A. Value chain
• B. Value delivery network
• C. Portfolio analysis
• D. None of above

Explanation: A value chain maps the value-creating activities performed across a company, including activities carried out by its internal departments.

• A. inbound distribution
• B. outbound distribution
• C. forward distribution
• D. reverse distribution

Explanation: Reverse distribution moves unwanted, excess, recalled, or returned products back from consumers or resellers through the channel.

• A. sought products
• B. unsought products
• C. less convenient products
• D. convenient products

Explanation: Convenience products are bought frequently and with minimal effort or comparison, such as everyday groceries.

• A. price packs
• B. advertising specialties
• C. sweepstakes
• D. cash rebates

Explanation: Promotional products such as pens, calendars, and mugs bearing a company logo are called advertising specialties.

• A. internal idea sources
• B. external idea sources
• C. off shoring ideas
• D. outdated ideas

Explanation: Employees belong to the organization, so ideas obtained from them are classified as internal idea sources.

• A. customer sales force structure
• B. product sales force structure
• C. indirect sales force structure
• D. territorial sales force structure

Explanation: A territorial sales force structure assigns sales representatives to defined geographic areas, where they sell the company’s products to…

• A. differentiated pricing
• B. competitive pricing
• C. value added pricing
• D. quality added pricing

Explanation: Value-added pricing differentiates an offering through added features, services, or benefits and then charges a price reflecting that…

• A. final consumer demand
• B. raw materials suppliers
• C. production controller
• D. logistic managers

Explanation: Business demand is derived demand because organizations buy goods and services to produce products that ultimately satisfy final consumer…

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

Explanation: Follow-up is the final step in personal selling because the salesperson checks delivery, satisfaction, and future needs after the sale.

• A. point of purchase promotion
• B. trade promotion
• C. event promotion
• D. off deal promotion

Explanation: Trade promotions target resellers by encouraging them to stock a brand, provide shelf space, advertise it, and push it to consumers.

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

Explanation: Wholesalers and retailers are organizational buyers, so their purchasing behavior is classified as business buyer behavior.

• A. Microenvironment
• B. Macro environment
• C. Both a and b
• D. None of the above

Explanation: The microenvironment consists of close forces such as the company, suppliers, intermediaries, competitors, and publics that directly…

• A. pre-approach
• B. sales nomination
• C. qualifying
• D. prospecting

Explanation: In the pre-approach stage, the salesperson researches and learns about a prospective buyer before making contact.

• A. problem recognition
• B. general need description
• C. product specification
• D. supplier search

Explanation: Problem recognition begins the business buying process because the organization first identifies a need or problem requiring a solution.

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

Explanation: Influencers provide technical or evaluative information and help define or assess alternatives in the buying process.

• A. floor for cost
• B. ceiling for prices
• C. floor for prices
• D. ceiling for cost

Explanation: Customer-perceived value sets the ceiling for price because buyers will generally not pay more than the value they believe the offering…