1. Sources of verbal information include _________.

A. Radio and Television Reports B. Customers and Consultants C. Financial Institutions D. All of these

Answer - Option D
Explanation: The sharing of information between individuals by using speech. Individuals working within a business need to effectively use verbal communication that employs readily understood spoken words, as well as ensuring that the enunciation, stress and tone of voice with which the words are expressed is appropriate.
2. Retailing includes all activities incident to selling to the ultimate __________.

A. consumer B. firm C. agents D. wholesaler

Answer - Option A
Explanation: Retailing is a distribution channel function where one organization buys products from supplying firms or manufactures the product themselves, and then sells these directly to consumers. A retailer is a reseller (i.e., obtains product from one party in order to sell to another) from which a consumer purchases products.
3. Decision- making is a future oriented activity. It involves forecasting and planning. The function of decision-making is to choose alternatives for the _________.

A. future B. present C. profit D. loss

Answer - Option A
Explanation: Decision-making process consists of five steps, which are need recognition, information search, evaluations of alternatives, purchase and post-purchase behavior. These steps can be a guide for marketers to understand consumers communicate effectively to them. One note is that consumers do not always move in the exact order through the process; it can depend on the type of product, the buying stage of the consumer and even financial status.
4. Product market integration may be defined as a state wherein both product image and consumer self-image are in focus, there is a match between product attributes and consumer expectations both economic and _________.

A. social B. political C. non-economic D. none of these

Answer - Option C
Explanation: Market integration is a term that is used to identify a phenomenon in which markets of goods and services that are somehow related to one another being to experience similar patterns of increase or decrease in terms of the prices of those products.
The term can also refer to a situation in which the prices of related goods and services sold in a defined geographical location also begin to move in some sort of similar pattern to one another.
5. Which of the following is not factors of the demand variable, according to Fillip Kotler?

A. customer variable B. competition variable C. environment variable D. all of these

Answer - Option D
Explanation: Philip Kotler (born in Chicago, Illinois) is an American marketing author, consultant, and professor.
• He is the author of over 55 marketing books, including Principles of Marketing, Kotler on Marketing: How to Create, Win, and Dominate Markets, and Marketing 3.0: From Products to Customers to the Human Spirit.
• Kotler describes strategic marketing as serving as “the link between society’s needs and its pattern of industrial response.”

1. A good control system should active correct action no sooner _______ occur.

A. flexible B. deviations C. controllable D. none of these

Answer - Option B
Explanation: An effective marketing control system:

• Set matching standards • Guaranteed quick detection of deviations and prompt action • Match with organisation pattern • Make it understandable • Make it flexible • Make it economical

2. A departmental store offers a wide range of products in an organised fashion and is easily accessible to the _________.

A. consumers B. firm C. suppliers D. governments

Answer - Option A
Explanation: A departmental store is a large retail trading organization. It has several departments, which are classified and organized accordingly.
• Departments are made as per different types of goods to be sold.
• For example, individual departments are established for selling packed food goods, groceries, garments, stationery, cosmetics, medicines, sports, furniture, etc., so that consumers can purchase all basic household requirements under one roof.
• It provides them maximum shopping convenience and therefore, also called as ‘Universal Providers’ or ‘One spot shopping’. The concept of a departmental store first originated in France.
3. The net profit will be maximised when _______.

A. fixed cost remains same B. contribution is maximised C. fixed is increased D. contribution is minimized

Answer - Option D
Explanation: The net profit margin is a more accurate measure of a company’s profitability, as it reveals the percentage of revenue that actually reflects a company’s profit per dollar of sales.
• The formula for net profit margin is “Net profit margin = (revenue – cost of goods – operating expenses – other expenses – interest – taxes) / revenue”
4. Those cost items which attach or cling to units of finished goods are called ________.

A. full costs B. product costs C. fixed costs D. variable costs

Answer - Option B
Explanation: Product cost refers to the costs used to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead.
• Product cost should include all costs related to a service, such as compensation, payroll taxes, and employee benefits.
• The calculation is: (Total direct labor + Total direct materials + Consumable supplies + Total allocated overhead) / Total number of units = Product unit cost)
5. The contribution approach to pricing is based on the incremental _______.

A. market force B. cost systems C. trade customs D. cost principle

Answer - Option D
Explanation: The cost principle is one of the basic underlying guidelines in accounting. It is also known as the historical cost principle. The cost principle requires that assets be recorded at the cash amount (or its equivalent) at the time that an asset is acquired.

1. The physical distribution involves which activities?

A. Sales force costing B. Retail warehousing C. Customer service D. All of these

Answer - Option D
Explanation: The basic elements of specific functions that make up physical distribution include (i) Materials handling; (ii) inventory planning and control ; (iii) order processing ; (iv) transportation ; and (v) a communication system to integrate the physical distribution process.’
2. Marketing management is the process of product planning, pricing, promotion and _________ along with the services to generate transaction that satisfies the organisational and user objectives.

A. Distribution B. Reward C. Goals D. None of these

Answer - Option A
Explanation: Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities.
3. Which among the following is NOT motivation models?

A. Economic model B. Learning model C. Psycho-analytic model D. All of these

Answer - Option D
Explanation: One of the most important factors to achieving success with your small business is the ability to motivate your employees. No two workers are alike; it can be a challenge to understand what makes each one tick so that you can apply the appropriate motivational technique. A number of motivational theories have been developed over time that can help you get the most out of your workers.
4. Decentralization refers to the systematic efforts to delegate to the lowest levels all authority except that which can be exercised at central points” Who said it?

A. Lavis A. Allen B. Stanton C. Still and Scwaff D. None of these

Answer - Option A
Explanation: In decentralized organizations, there is more freedom and autonomy when multiple marketing departments are responsible for promoting the products/services of the different BU’s (Business Units) of the organization.
5. Buying situations may be caused by ________.

A. Awareness about competing brands in a product group. B. Customer has decision criteria C. Customer is able to evaluate and decide on his choice D. All of these

Answer - Option D
Explanation: Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.