Take The Distribution Management Quiz Questions!
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Distribution management is the process of supervising and managing the movement of goods from supplier or manufacturer to the point of sale. It refers to many procedures involved in distribution management, including packaging, inventory, warehousing, supply chain, and logistics. It is an essential aspect of the business cycle for distributors and wholesalers. This quiz will spark your interest in distribution management. Good luck with the quiz.
Questions and Answers
- 1.
_________ is the money value of a product or service expressed in terms of peso or centavo.
- A.
Price
- B.
Profit
- C.
Market
Correct Answer
A. PriceExplanation
The correct answer is Price. Price refers to the money value of a product or service, which is expressed in terms of a specific currency, such as the peso or centavo. It represents the amount that a customer is required to pay in order to obtain the product or service.Rate this question:
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- 2.
Target return objective that sets a specific level of profit.
- A.
Profit oriented
- B.
Sales oriented
- C.
Status - quo
Correct Answer
A. Profit orientedExplanation
The given correct answer, "Profit oriented," refers to a target return objective that focuses on achieving a specific level of profit. This objective prioritizes maximizing profits and ensuring that the business generates a significant return on investment. It implies that the company is primarily driven by financial gains and aims to optimize its profitability. This approach may involve strategies such as cost reduction, increasing sales revenue, or improving operational efficiency to maximize profits.Rate this question:
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- 3.
Some managers are more concerned with sales of volume than profit but this is so when the cost of materials does not increase.
- A.
Sales oriented
- B.
Status quo
- C.
Profit oriented
Correct Answer
A. Sales orientedExplanation
The correct answer is "sales oriented" because the statement suggests that some managers prioritize sales volume over profit, especially when the cost of materials remains constant. This indicates that these managers focus on increasing the quantity of products sold rather than maximizing the profitability of each sale.Rate this question:
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- 4.
_____ pricing involves setting a higher price from what the market expects.
- A.
Skim pricing
- B.
Penetration Pricing
- C.
Psychological Prcing
Correct Answer
A. Skim pricingExplanation
Skim pricing involves setting a higher price from what the market expects. This strategy is typically used when a product or service is new, unique, or has limited availability. By initially setting a higher price, the company aims to maximize profits from the early adopters or customers who are willing to pay a premium. As demand from this segment decreases, the company gradually lowers the price to attract more price-sensitive customers. Skim pricing can help companies recoup their investment quickly and create a perception of exclusivity or high quality.Rate this question:
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- 5.
______ involves setting a low initial price for the product or service inorder to target the mass market.
- A.
Penetration pricing
- B.
Skim pricing
- C.
Odd price
Correct Answer
A. Penetration pricingExplanation
Penetration pricing involves setting a low initial price for the product or service in order to target the mass market. This strategy aims to attract a large number of customers by offering a lower price compared to competitors. The goal is to quickly gain market share and establish a strong presence in the market. Once the market share is achieved, the company can gradually increase the price or introduce additional products or services at higher prices to generate more revenue.Rate this question:
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- 6.
Is a type of psychological pricing in which goods are sold to customers at the same price to give customers confidence in the store, saves time and can be used for self-service stores.
- A.
Fixed Price Policy
- B.
Variable Price Policy
- C.
Odd Price Policy
Correct Answer
A. Fixed Price PolicyExplanation
The explanation for the correct answer, Fixed Price Policy, is that it is a type of psychological pricing strategy where goods are sold to customers at the same price. This strategy aims to give customers confidence in the store by eliminating the need for negotiation or haggling over prices. It also saves time for both the customers and the store, as there is no need to spend time negotiating or adjusting prices. Additionally, this pricing policy is particularly suitable for self-service stores, where customers can easily find and purchase products without assistance.Rate this question:
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- 7.
This is determned by the buyer's bargaining power. This is done by lowering the prices to some buyers to increase more traffic.
- A.
Fixed Price Policy
- B.
Variable Price Policy
- C.
Odd Price Policy
Correct Answer
B. Variable Price PolicyExplanation
The correct answer is Variable Price Policy. This policy involves adjusting prices based on the buyer's bargaining power. By lowering prices for certain buyers, the seller aims to attract more traffic and increase sales. Unlike a fixed price policy, where prices remain constant, a variable price policy allows for flexibility in pricing strategy based on market conditions and individual customer negotiations. This approach can help businesses adapt to changing demands and optimize revenue generation.Rate this question:
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- 8.
Prices are set at odd amounts, such as PhP 19.95 or 49.99.
- A.
Fixed Price Policy
- B.
Variable Price Policy
- C.
Odd Price Policy
Correct Answer
C. Odd Price PolicyExplanation
The given answer, "Odd Price Policy," is the correct explanation for the statement. This policy refers to the practice of setting prices at odd amounts, such as PhP 19.95 or 49.99. The purpose of this pricing strategy is to create the perception of a lower price in the consumer's mind, even though the difference may be minimal. The odd amounts make the price appear less rounded and more affordable, potentially encouraging customers to make a purchase.Rate this question:
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- 9.
What is Cost Price?
- A.
Cost of raw materials.
- B.
Labor expenses
- C.
Price for merchandize
Correct Answer
A. Cost of raw materials.Explanation
The cost price refers to the amount of money spent on acquiring the raw materials needed for production. It does not include labor expenses or the price for merchandise. The cost of raw materials is an essential component in determining the overall cost of producing goods or services.Rate this question:
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- 10.
Which of the following is true about Cost of production?
- A.
Worker's salary
- B.
Raw materials cost
- C.
Freight costs
Correct Answer
A. Worker's salaryExplanation
The correct answer is worker's salary. The cost of production includes various expenses such as raw materials cost, freight costs, and worker's salary. Worker's salary is an essential component of the cost of production as it represents the wages paid to the labor force involved in the production process. This cost is incurred by the company to compensate the workers for their time and effort in manufacturing the product or providing the service.Rate this question:
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- 11.
_________ is an amount added to the cost price of an article to dtermine the selling price.
- A.
Mark-up
- B.
Profit
- C.
Cost of oerdering
Correct Answer
A. Mark-upExplanation
Mark-up is the correct answer because it refers to the additional amount added to the cost price of an article in order to determine the selling price. This is a common practice in business to ensure that the seller makes a profit on each sale. By adding a mark-up, the seller covers their costs and includes a margin for profit.Rate this question:
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- 12.
______ refers to the length of time for which sellers extend credit terms to buyers.
- A.
Mark-up
- B.
Datings
- C.
Buying
- D.
Price tag
Correct Answer
B. DatingsExplanation
"Datings" refers to the length of time for which sellers extend credit terms to buyers. This term is commonly used in the business world to describe the specific period of time within which a buyer is allowed to pay for goods or services. It is an important aspect of credit management and impacts the cash flow of both the buyer and the seller.Rate this question:
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- 13.
Is a type of dating that the credit period is based on the selling season of the merchandize ordered.
- A.
Season dating
- B.
Interest dating
- C.
End of the month dating
Correct Answer
A. Season datingExplanation
Season dating is a type of dating where the credit period is based on the selling season of the merchandise ordered. This means that the customer is given a specific period of time to pay for their order, which is determined by the season in which the merchandise is expected to be sold. For example, if a customer orders merchandise that is expected to be sold during the summer season, they may be given a longer credit period to pay for their order, as the selling season for that merchandise is longer. This type of dating allows the seller to align their credit terms with the expected sales patterns of their merchandise.Rate this question:
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- 14.
Which of the following is the maim purpose of Price Tags as mentioned in Republic Act No. 71?
- A.
To give information and guide to customers about the price of the product
- B.
To let the owner know the price
- C.
To give the customers idea on the profits
Correct Answer
A. To give information and guide to customers about the price of the productExplanation
Price tags serve the main purpose of providing information and guidance to customers about the price of a product. They help customers make informed decisions by displaying the price clearly and prominently. Price tags also ensure transparency in pricing, allowing customers to compare prices and make value-based choices. Additionally, price tags help prevent price manipulation or fraud, as the price displayed on the tag serves as a reference for both the customer and the owner.Rate this question:
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- 15.
Which of the the following are types of buyers?
- A.
Ultimate Consumers
- B.
Manufacturers
- C.
Middlemen
- D.
Agents
Correct Answer(s)
A. Ultimate Consumers
B. Manufacturers
C. MiddlemenExplanation
Ultimate consumers, manufacturers, and middlemen are all types of buyers in the market. Ultimate consumers refer to individuals or households who purchase goods or services for their personal use. Manufacturers are buyers who acquire raw materials and components to produce finished products. Middlemen act as intermediaries between producers and consumers, buying products from manufacturers and selling them to ultimate consumers. Agents, on the other hand, are not mentioned in the question and therefore cannot be considered as types of buyers.Rate this question:
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- 16.
________ is concerned with activities involved in transferring goods fro producers to final consumers and users.
- A.
Distribution
- B.
Marketing
- C.
Management
Correct Answer
A. DistributionExplanation
Distribution is concerned with activities involved in transferring goods from producers to final consumers and users. This includes the processes of storing, transporting, and delivering products to the intended market. Distribution ensures that products are available to customers in the right place, at the right time, and in the right quantity. It involves managing logistics, inventory, and supply chain to ensure efficient and effective movement of goods. Marketing, on the other hand, focuses on activities related to promoting and selling products, while management encompasses the overall coordination and organization of resources to achieve business goals.Rate this question:
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- 17.
______ is the mangement of the physical flow of products and the establishment of the efficient flow system.
- A.
Physical distribution
- B.
Distributive constitution
- C.
Channels of distribution
Correct Answer
A. pHysical distributionExplanation
Physical distribution refers to the management of the physical flow of products and the establishment of an efficient flow system. This includes activities such as transportation, warehousing, inventory management, and order processing. By effectively managing these processes, companies can ensure that products are delivered to customers in a timely and cost-effective manner. Physical distribution is an essential aspect of supply chain management and plays a crucial role in meeting customer demands and achieving operational efficiency.Rate this question:
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- 18.
What are the two types of Physical Distribution?
- A.
Transportation
- B.
Warehousing
- C.
Wholesaling
- D.
Retailing
Correct Answer(s)
A. Transportation
B. WarehousingExplanation
The two types of Physical Distribution are transportation and warehousing. Transportation refers to the movement of goods from one location to another, ensuring that they reach the intended destination. Warehousing, on the other hand, involves the storage and management of goods in a designated facility until they are ready to be distributed. These two types work together to ensure the efficient and effective flow of goods throughout the supply chain.Rate this question:
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- 19.
What are the two types of Physical Distribution?
- A.
Transportation
- B.
Warehousing
- C.
Wholesaling
- D.
Retailing
Correct Answer(s)
C. Wholesaling
D. RetailingExplanation
The two types of physical distribution mentioned in the answer are wholesaling and retailing. Wholesaling refers to the process of selling products in bulk to retailers or other businesses, while retailing involves selling products directly to consumers. These two types of distribution play a crucial role in getting products from manufacturers to end consumers.Rate this question:
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- 20.
_______ is the actual transfer or movement of goods and people from one place to another.
- A.
Transportation
- B.
Warehousing
- C.
Retailing
Correct Answer
A. TransportationExplanation
Transportation refers to the physical movement of goods and people from one location to another. It involves the use of various modes such as road, rail, air, and water to transfer goods and individuals. Transportation is an essential component of supply chain management as it ensures the efficient and timely delivery of products to their intended destinations. It plays a crucial role in facilitating trade, commerce, and economic development by connecting different regions and enabling the exchange of goods and services.Rate this question:
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- 21.
Which of the following are factors in determining transportation rates or costs among different commodities?
- A.
Distance
- B.
Loading characteristics
- C.
Risk of loss or damage
- D.
Cost of production
Correct Answer(s)
A. Distance
B. Loading characteristics
C. Risk of loss or damageExplanation
The factors that determine transportation rates or costs among different commodities include distance, loading characteristics, and the risk of loss or damage. Distance plays a crucial role as longer distances usually require more fuel and time, thus increasing the transportation costs. Loading characteristics, such as the size, weight, and fragility of the commodities, can impact the cost as they may require special handling or equipment. The risk of loss or damage also affects transportation rates, as more delicate or valuable goods may require additional insurance or security measures, increasing the overall cost. The cost of production is not directly related to transportation rates or costs.Rate this question:
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- 22.
_________ is a marketing function that involves the storage or holding of goods between the time of production and final use.
- A.
Warehousing
- B.
Transportation
- C.
Channels of distribution
Correct Answer
A. WarehousingExplanation
Warehousing is a marketing function that involves the storage or holding of goods between the time of production and final use. This means that warehousing plays a crucial role in the supply chain management process by providing a physical location for storing goods until they are needed by customers. Warehousing helps in maintaining inventory levels, ensuring product availability, and facilitating the smooth flow of goods from production to consumption. It also allows for efficient order fulfillment and enables businesses to respond quickly to customer demands.Rate this question:
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- 23.
______ owned by the company and prefereably establisehd by the companies that move large volumes of products regularly over a long period time.
- A.
Private warehouses
- B.
Automated warehouses
- C.
Public warehouses
Correct Answer
A. Private warehousesExplanation
Private warehouses are owned by a company and are typically established by companies that move large volumes of products regularly over a long period of time. These warehouses are exclusively used by the company that owns them and provide more control and flexibility in managing inventory and distribution. They offer the advantage of customization and specialized services tailored to the specific needs of the company.Rate this question:
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- 24.
_________ serve as links between the producers and the ultimate consumer or industrial users.
- A.
Middleman
- B.
Agent
- C.
Negotiator
Correct Answer
A. MiddlemanExplanation
A middleman serves as a link between the producers and the ultimate consumer or industrial users. They play a crucial role in the distribution process by facilitating the movement of goods from producers to consumers. Middlemen can include wholesalers, retailers, distributors, and other intermediaries who help in the distribution and marketing of products. They help in bridging the gap between producers and consumers by providing services such as warehousing, transportation, marketing, and customer support. By acting as intermediaries, middlemen help ensure that products reach the right market and customers efficiently.Rate this question:
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- 25.
________ are those who actually take little to the goods they handle.
- A.
Merchant middleman
- B.
Agent middleman
- C.
Negotiator
Correct Answer
A. Merchant middlemanExplanation
Merchant middlemen are individuals who take ownership of the goods they handle. They purchase goods from producers and sell them to consumers, assuming the risk of any unsold inventory. Unlike agent middlemen who act as intermediaries between buyers and sellers but do not take ownership of the goods, merchant middlemen physically possess and control the goods they trade. Therefore, they have a direct stake in the buying and selling process and are responsible for managing inventory, pricing, and distribution.Rate this question:
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- 26.
____ are those who do not take little to the goods but actually assists in the transfer of title.
- A.
Merchant middleman
- B.
Agent middleman
- C.
Salesman
Correct Answer
B. Agent middlemanExplanation
Agent middlemen are individuals who facilitate the transfer of title or ownership of goods between the buyer and the seller. They do not take possession of the goods themselves, but rather act as intermediaries in the transaction. Unlike merchant middlemen who buy and sell goods for their own account, agent middlemen work on behalf of either the buyer or the seller to negotiate and finalize the sale. Salesmen, on the other hand, typically work directly for a company and are responsible for selling its products or services.Rate this question:
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- 27.
_____ refers to the activities involving the sale of goods or services to the ultimate consumer for personal use and not business use.
- A.
Retailing
- B.
Merchandizing
- C.
Distribution
Correct Answer
A. RetailingExplanation
Retailing refers to the activities involving the sale of goods or services to the ultimate consumer for personal use and not business use. This includes the process of purchasing products from manufacturers or wholesalers and selling them directly to consumers through various channels such as brick-and-mortar stores, online platforms, or mobile applications. Retailers play a crucial role in the distribution of products and often engage in merchandising activities to attract customers and maximize sales.Rate this question:
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- 28.
Which of the following are the development staged of a retail store?
- A.
Peddler
- B.
Perya
- C.
Stall
- D.
Market
- E.
Tindahan
- F.
General store
Correct Answer(s)
A. Peddler
B. Perya
C. Stall
D. Market
E. Tindahan
F. General storeExplanation
The given options represent different stages of development for a retail store. A peddler refers to an individual who sells goods by traveling from place to place. Perya is a type of temporary fair or carnival where various vendors set up stalls to sell their products. A stall is a small temporary structure where goods are displayed and sold. A market is a more established and permanent location where multiple vendors gather to sell their products. Tindahan is a Filipino term for a small neighborhood store. A general store is a larger retail establishment that offers a wide range of products.Rate this question:
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- 29.
These are outlets that carry a variety of product lines and assortment in each line.
- A.
General merchandize stores
- B.
Limited line stores
- C.
Corporate Chains
Correct Answer
A. General merchandize storesExplanation
General merchandise stores are outlets that carry a variety of product lines and assortments in each line. This means that they offer a wide range of products across different categories, such as clothing, electronics, home goods, and more. Unlike limited line stores, which specialize in a specific product category, general merchandise stores aim to provide customers with a diverse selection of items. Corporate chains refer to a type of ownership structure rather than a specific type of store, so they are not the best answer in this context. Therefore, the correct answer is general merchandise stores.Rate this question:
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- 30.
Hardware stores, furniture stores or food stores are examples of?
- A.
General merchandise
- B.
Limited line store
- C.
Corporate chain stores
Correct Answer
B. Limited line storeExplanation
Hardware stores, furniture stores, and food stores are examples of limited line stores. Limited line stores specialize in a narrow range of products within a specific industry. These stores typically offer a focused selection of items related to a particular category, such as hardware, furniture, or food. Unlike general merchandise stores that carry a wide variety of products, limited line stores cater to a specific customer need or interest. They provide a targeted shopping experience and expertise in their chosen product category.Rate this question:
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- 31.
___________ offers the extreme of supermarket retailing in which salesclerks are around to assist customers in their choice of goods.
- A.
Supermarket retailing
- B.
Department store retailing
- C.
Corporate chain stores
Correct Answer
B. Department store retailingExplanation
Department store retailing offers the extreme of supermarket retailing in which salesclerks are around to assist customers in their choice of goods. Unlike supermarket retailing, where customers typically shop independently, department stores provide a higher level of customer service with salesclerks readily available to assist and guide customers in their purchasing decisions. This personalized assistance sets department store retailing apart from other forms of retailing, such as corporate chain stores, where customer assistance may not be as readily available.Rate this question:
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- 32.
________ incudes the sale and all activities directly related to the sale of products or services to those who are buying for business use.
- A.
Retailing
- B.
Wholesaling
- C.
Marketing
Correct Answer
B. WholesalingExplanation
Wholesaling includes the sale and all activities directly related to the sale of products or services to those who are buying for business use. This means that wholesalers sell goods or services in large quantities to retailers or other businesses, rather than selling directly to individual consumers. Wholesalers typically purchase goods from manufacturers or other suppliers and then sell them in bulk to retailers, who will then sell the products to the end consumers. This process helps to distribute goods efficiently and allows businesses to focus on their core competencies.Rate this question:
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- 33.
_______ these are wholesalers, jobbers or industrial distributors.
- A.
Merchant wholesaler
- B.
Agent middleman
- C.
Sale branches
Correct Answer
A. Merchant wholesalerExplanation
The correct answer is "Merchant wholesaler" because this type of wholesaler buys products directly from manufacturers and sells them to retailers or other businesses. They typically take ownership of the products and bear the risks associated with inventory management. Unlike agent middlemen, who do not take ownership of the products, and sale branches, which are not mentioned in the question, merchant wholesalers are the most likely option.Rate this question:
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- 34.
________ this methods advantage is its ability to handle bulky products at a low cost over a long distance.
- A.
Railroad
- B.
Water vessel
- C.
Airplane
- D.
Pipeline
Correct Answer
A. RailroadExplanation
Railroad is the correct answer because it has the advantage of being able to handle bulky products at a low cost over a long distance. Rail transportation is known for its ability to carry large quantities of goods efficiently and cost-effectively, making it a preferred choice for transporting heavy and bulky items. Additionally, rail networks often cover extensive distances, allowing for the transportation of goods over long distances without the need for transshipment or additional handling costs.Rate this question:
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- 35.
________ used primarily by petroleum industry to move oil and natural gas.
- A.
Pipelines
- B.
Airplanes
- C.
Railroad
Correct Answer
A. PipelinesExplanation
Pipelines are used primarily by the petroleum industry to transport oil and natural gas. They provide a safe and efficient method of moving large quantities of these resources over long distances. Pipelines are cost-effective and minimize the risk of spills and accidents compared to other modes of transportation like airplanes or railroads. Additionally, pipelines can be laid underground, reducing the impact on the environment and minimizing disruption to land and communities.Rate this question:
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- 36.
____________ is a set of tangible physical or non-physical attributes assembled in an identifiable form.
- A.
Product
- B.
Market
- C.
Goods
Correct Answer
A. ProductExplanation
A product refers to a set of tangible physical or non-physical attributes assembled in an identifiable form. This can include both physical goods and intangible services. It is a term used to describe something that is created or manufactured for sale or use, and can be identified and distinguished from other offerings in the market.Rate this question:
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- 37.
These products were created upon realization of an unanswered need in the market which has not been fulfilled aby any substitute.
- A.
Innovative products
- B.
Replacement products
- C.
Imitative products
Correct Answer
A. Innovative productsExplanation
The given statement suggests that the products in question were created to address a specific need in the market that has not been fulfilled by any substitute. This indicates that these products are unique and original, making them innovative. Therefore, the correct answer is "Innovative products."Rate this question:
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- 38.
These products emerge when new products arrive to replace old products.
- A.
Innovative products
- B.
Replacement products
- C.
Imitative products
Correct Answer
B. Replacement productsExplanation
Replacement products refer to the new products that emerge when old products are replaced by newer versions or alternatives. These products are introduced in the market to replace outdated or obsolete products, offering improved features, technology, or functionality. Unlike innovative products that introduce completely new concepts or ideas, replacement products are developed to provide a better alternative to existing products. Imitative products, on the other hand, are products that imitate or replicate the features and functions of already existing products.Rate this question:
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- 39.
___________ is a systematic process for originating, developing and evaluating new product ideas.
- A.
Marketing research
- B.
Product planning and development
- C.
Market forecast
Correct Answer
B. Product planning and developmentExplanation
Product planning and development is the correct answer because it involves the systematic process of generating, developing, and evaluating new product ideas. This process includes conducting market research to identify consumer needs and preferences, creating product concepts, testing and refining those concepts, and ultimately bringing the new product to market. Market forecast and marketing research may be components of the product planning and development process, but they do not encompass the entire process itself.Rate this question:
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- 40.
Which of the following are reasons whey new products fails?
- A.
Inadequate market analysis
- B.
Product deficiencies
- C.
Lack of marketing effort
- D.
Expensive products
Correct Answer(s)
A. Inadequate market analysis
B. Product deficiencies
C. Lack of marketing effortExplanation
The given answer lists three reasons why new products fail: inadequate market analysis, product deficiencies, and lack of marketing effort. Inadequate market analysis refers to the failure of properly researching and understanding the target market and its needs. Product deficiencies indicate that the product itself may have flaws or shortcomings that make it unappealing or unsatisfactory to consumers. Lack of marketing effort suggests that insufficient promotional activities and strategies were employed to create awareness and generate demand for the product. These factors collectively contribute to the failure of new products in the market.Rate this question:
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- 41.
This is the stage when the product is launched in the market.
- A.
Introduction stage
- B.
Growth stage
- C.
Maturity stage
Correct Answer
A. Introduction stageExplanation
The introduction stage refers to the initial phase of a product's lifecycle when it is launched in the market. During this stage, the product is introduced to customers, and companies focus on creating awareness and generating demand. Marketing efforts are typically high, and sales may be initially slow as customers become familiar with the product. The introduction stage is characterized by high costs, limited competition, and the need for heavy promotional activities. As the product gains traction and customer acceptance increases, it moves into the growth stage.Rate this question:
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- 42.
This is when sales and profits increase and a mark of public acceptance for a product.
- A.
Introduction stage
- B.
Growth stage
- C.
Maturity stage
Correct Answer
B. Growth stageExplanation
The growth stage is characterized by increasing sales and profits, indicating that the product is gaining public acceptance. During this stage, consumer demand for the product grows rapidly, leading to higher sales volume and revenue. Companies often invest heavily in marketing and production during this stage to capitalize on the product's success and expand its market share. As competition increases, companies may also introduce product variations or extensions to further drive growth. Overall, the growth stage signifies a positive market response and a promising future for the product.Rate this question:
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- 43.
During this stage, sales and profits start to decline because more competitors enter the market with more advance product development.
- A.
Introduction stage
- B.
Growth stage
- C.
Maturity stage
Correct Answer
C. Maturity stageExplanation
In the maturity stage, sales and profits start to decline because more competitors enter the market with more advanced product development. This is because as the product reaches its peak popularity, other companies see its success and try to enter the market with similar or improved offerings. As a result, the market becomes saturated and competition increases, leading to a decline in sales and profits for the original product. This stage is characterized by a stable market size and intense competition, making it difficult for companies to maintain their initial growth and profitability.Rate this question:
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- 44.
As new concepts come in, they replace the old ones due to changes on fashion or tastes of consumers or lower cost substitute.
- A.
Introduction stage
- B.
Growth stage
- C.
Maturity stage
- D.
Decline stage
Correct Answer
D. Decline stageExplanation
In the decline stage, the product or concept is no longer popular or in demand. This could be due to changes in consumer preferences or the availability of cheaper substitute products. As new concepts emerge, they replace the old ones, leading to a decline in the demand for the product. In this stage, sales and profits decrease, and the product may eventually be phased out of the market.Rate this question:
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- 45.
________ is a word, mark, symbol, or a combination of them used to identify the marketer's product or source.
- A.
Brand
- B.
Market
- C.
Product
Correct Answer
A. BrandExplanation
A brand is a word, mark, symbol, or a combination of them used to identify the marketer's product or source. It serves as a unique identifier for a company or organization and helps distinguish its products or services from competitors in the market. A strong brand can create customer loyalty and trust, as well as influence purchasing decisions.Rate this question:
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- 46.
Which of the following are characteristics of good branding?
- A.
It must be easy to remember
- B.
It must suggest something about the product
- C.
It must be distinctive
- D.
It must be cheap
Correct Answer(s)
A. It must be easy to remember
B. It must suggest something about the product
C. It must be distinctiveExplanation
Good branding should be easy to remember because a memorable brand name or logo helps consumers recall the product or company easily. It should also suggest something about the product to give consumers an idea of what the brand represents or offers. Additionally, good branding should be distinctive to stand out from competitors and create a unique identity. However, being cheap is not necessarily a characteristic of good branding as investing in quality branding often requires financial resources.Rate this question:
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- 47.
_______ is that part of a product that carries verbal information about the product or the seller.
- A.
Label
- B.
Brand
- C.
Product
Correct Answer
A. LabelExplanation
A label is a part of a product that carries verbal information about the product or the seller. It usually includes details such as the product name, ingredients, instructions for use, and the brand name or logo. Labels are important for providing essential information to consumers and helping them make informed decisions about the product. They also serve as a way for the seller to communicate their brand identity and establish recognition in the market.Rate this question:
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- 48.
Which of the following are types of Consumer goods?
- A.
RTW
- B.
Computer
- C.
Yeast for breads
- D.
Welding machines
- E.
Noodle soup
Correct Answer(s)
A. RTW
E. Noodle soupExplanation
RTW stands for Ready-to-Wear, which refers to clothing items that are mass-produced and sold in standard sizes. Noodle soup is a type of food product that is consumed by individuals. Both RTW and noodle soup are examples of consumer goods as they are intended for personal use and are directly consumed by the end-user. On the other hand, a computer and welding machines are not consumer goods as they are typically used for business or industrial purposes. Yeast for breads can be considered a consumer good if it is sold in small quantities for individual use, but without further information, it is unclear whether it falls into this category.Rate this question:
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- 49.
Identify which of the following does not belong to the group.
- A.
Welding machine
- B.
Fastfood
- C.
Slacks
- D.
Softdrinks
Correct Answer
A. Welding machineExplanation
The given options consist of three items that belong to a particular category, which is related to consumer goods or products. Welding machine, on the other hand, does not fit into this category as it is a tool or equipment used for industrial or construction purposes. Therefore, welding machine does not belong to the group of consumer goods or products.Rate this question:
-
- 50.
Identify which of the following are industrial goods.
- A.
Refrigerator
- B.
Computer
- C.
Chocolates
- D.
Coffee
- E.
Water pump
Correct Answer(s)
A. Refrigerator
B. Computer
E. Water pumpExplanation
The correct answer is Refrigerator, Computer, and Water pump. These three items are considered industrial goods because they are used in the production of other goods or services. Refrigerators are used in industries such as food processing and storage. Computers are used in various industries for data processing and communication. Water pumps are used in industrial settings to move water or other fluids. Chocolates and coffee, on the other hand, are consumer goods as they are primarily used by individuals for personal consumption.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
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Oct 15, 2012Quiz Created by
Anthzila
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