Management Sciences
Management Sciences MCQs With Answers
0 Management Sciences MCQs for CSS, PPSC, FPSC, NTS and entry-test preparation. Take a scored quiz instead →
The stage of the New Product Development process in which the product and marketing program are introduced into realistic market settings is:
ATest Marketing
BCommercialization
CBusiness Analysis
DProduct Synthesis
According to Everett Rogers’ Diffusion of Innovations theory, the first group of consumers to adopt a new technology or product are called:
AEarly Majority
BLaggards
CEarly Adopters
DInnovators
A pricing tactic where a company sets a low initial price for a new product to quickly attract a large number of buyers and win market share is:
APrice Discrimination
BMarket-Penetration Pricing
CMarket-Skimming Pricing
DPrestige Pricing
Adjusting prices continually to meet the characteristics and needs of individual customers and changing supply/demand situations (e.g., airline tickets) is called:
APsychological Pricing
BGeographic Pricing
CPromotional Pricing
DDynamic Pricing
When a firm combines several products and offers the entire package at a reduced overall price compared to buying each item separately, it uses:
ABy-Product Pricing
BTwo-Part Pricing
CCaptive Product Pricing
DProduct Bundle Pricing
The price elasticity of demand measures:
AHow responsive the production cost is to raw material price changes
BHow responsive the quantity demanded of a good is to a change in its price
CThe relationship between marketing expenditures and brand awareness
DHow competitors adjust prices when market leader acts
A company sets prices to break even on the costs of making and marketing a product, or to make a target return on investment. This approach is called:
AValue-Based Pricing
BBreak-Even Pricing (Target Return Pricing)
CCompetitive Parity Pricing
DPenetration Pricing
Which product level in Philip Kotler’s Five Product Levels model represents the fundamental service or benefit that the customer is actually buying?
AExpected Product
BAugmented Product
CBasic Product
DCore Benefit
Products that consumers buy frequently, immediately, and with minimal comparison or buying effort are classified as:
AUnsought Products
BConvenience Products
CShopping Products
DSpecialty Products
High-priced consumer goods with unique characteristics or brand identification for which buyers are willing to exert significant purchasing effort are called:
AConvenience Products
BShopping Products
CSpecialty Products
DUnsought Products