Test: Enterprise Marketing- 2


18 Questions MCQ Test Entrepreneurship Class 12 | Test: Enterprise Marketing- 2


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Attempt Test: Enterprise Marketing- 2 | 18 questions in 18 minutes | Mock test for Commerce preparation | Free important questions MCQ to study Entrepreneurship Class 12 for Commerce Exam | Download free PDF with solutions
QUESTION: 1

Sita is planning to start a business of manufacturing cricket balls. She has decided to keep the brand name as ‘Super Balls’, and has also planned everything about the logo, brand mark and trademark. According to her, she has selected and decided all the components of a brand. Is selection and components of a brand decided by her are true or false.

Solution:

The 8 Most important components of your brand:

  • Brand Definition.
  • Brand Values.
  • Brand Promise.
  • Brand Identity.
  • Brand Differentiation.
  • Market Position.
  • Brand Messaging.
  • Brand Experience.
QUESTION: 2

Ram and Rohan are leading an advertising firm. They recruited new graduates through college placements. During an interview, they asked one of the students to list down four rules for planning any advertising activity. He responded with the following: Desire, Aim, Target and Competitors. Mention whether the identified rules are true or false.

Solution:

The steps or stages taken in planning an advertising campaign; the steps include identifying the target market, establishing the advertising objectives, developing the advertising budget, developing the advertising strategies, selecting the appropriate media, and evaluating the advertising effectiveness.

QUESTION: 3

Guru is planning to start a business of retailing leather products. He along with his friend is formulating the sales strategy he would use to promote the products. He is analysing the prices of competitor’s products and fixing the prices of his products accordingly. When he started to sell the products, he promoted these by comparing to its competitor’s products. According to his friend, Guru is using the direct sales strategy to sell his products. Identify whether Guru’s friend is right or wrong.

Solution:

Direct selling refers to selling products directly to the consumer in a non-retail environment (i.e. the sales process occurs at home, work, or at another non-store location). In fact, many home-based businesses incorporate direct selling to connect with consumers.
An example of a direct seller is Boeing. The company offers its products directly to potential customers – airlines. That means that a customer can buy a Coke from a third-party vendor, but not from the company's website.

QUESTION: 4

Match the rules of advertising with the correct explanation.

Solution:

Correct Match:

QUESTION: 5

Given below are the concepts of Enterprise Marketing. Match them correctly with their meaning.

Solution:

Correct Match:

QUESTION: 6

State Whether the Following Statements are True or False.
Q. The 4Ps that make up a typical marketing mix are – Price, Product, Publicity and Place.

Solution:

Product, price, promotion, and place form the 4 Ps of the marketing mix. These are the key factors that are involved in the marketing of a good or service.
The marketing mix can be divided into four groups of variables commonly known as the four Ps:

  • Product: The goods and/or services offered by a company to its customers.
  • Price: The amount of money paid by customers to purchase the product.
  • Place (or distribution): The activities that make the product available to consumers.
  • Promotion: The activities that communicate the product’s features and benefits and persuade customers to purchase the product.
QUESTION: 7

State Whether the Following Statements are True or False.
Q. Producer-wholesaler-retailer-customer is the most common and traditional channel of distribution. 

Solution:

Producer → Agent/Broker → Wholesaler or Retailer → Customer (Three-level Channel) This distribution channel involves more than one intermediary before the product gets into the hands of the consumer. The middleman, known as the agent, assists with the negotiation between the manufacturer and the seller.

QUESTION: 8

State Whether the Following Statements are True or False.
Q. Trademark is a graphic mark or emblem commonly used by commercial enterprises, organizations and even individuals to aid and promote instant public recognition.

Solution:

The term trademark refers to a recognizable insignia, phrase, word, or symbol that denotes a specific product and legally differentiates it from all other products of its kind. A trademark exclusively identifies a product as belonging to a specific company and recognizes the company's ownership of the brand.

QUESTION: 9

State Whether the Following Statements are True or False.
Q. A sales strategy consists of a plan that positions a company’s brand or product to gain a competitive advantage.

Solution:
  • A sales strategy is defined as a documented plan for positioning and selling your product or service to qualified buyers in a way that differentiates your solution from your competitors.
  • Sales strategies are meant to provide clear objectives and guidance to your sales organization.
  • There are essentially four selling strategies: script-based selling, needs-satisfaction selling, consultative selling, and strategic partnering.
QUESTION: 10

State Whether the Following Statements are True or False.
Q. Variable pricing method helps the company in recovering the research and development costs.

Solution:
  • A variable pricing strategy is a pricing method in which the price of a product may vary based on region, sales location, date, or other factors. “The price could change as you move from region to region,” he said. “There's no surprise in that. Two different sales locations could have different pricing.
  • These are the four basic strategies, variations of which are used in the industry. Apart from the four basic pricing strategies: premium, skimming, economy or value and penetration there can be several other variations on these. A product is the item offered for sale. A product can be a service or an item.
QUESTION: 11

State Whether the Following Statements are True or False.
Q. Promotion refers to all the activities undertaken to make the product or service known to the user and trade.

Solution:

Promotion: This refers to all the activities undertaken to make the product or service known to the user and trade. This can include advertising, word of mouth, press reports, incentives, commissions and awards to the trade. It can also include consumer schemes, direct marketing, contests and prizes.
Promotion includes advertising, public relations, and promotional strategy.

QUESTION: 12

State Whether the Following Statements are True or False.
Q. Below-the-line promotions use mass media methods.

Solution:
  • Below-the-line advertising is an advertising strategy where products are promoted in media other than mainstream radio or television.
  • Below-the-line advertising campaigns include direct mail campaigns, trade shows, catalogs, and targeted search engine marketing.
QUESTION: 13

State Whether the Following Statements are True or False.
Q. Ambient refers to any form of advertising that occurs in a non-standard medium outside the home.

Solution:
  • Ambient Advertising is about placing ads on unusual objects or in unusual places where you wouldn't usually expect to have an advertisement.
  • Ambient advertising evolved as a concept because it has a lasting impact on the minds of consumers which makes it more effective.
  • Examples are messages on the backs of car park receipts, on hanging straps in railway carriages, posters inside sports club locker rooms and on the handles of supermarket trolleys.
QUESTION: 14

State Whether the Following Statements are True or False.
Q. B & h is a leading advertising firm. They recruit new graduates through college placements. During an interview, a student was asked to list the four rules for planning any advertising activity, he replied that the following is required: Aim, Target, Desire, Competitors.

Solution:
  • An advertising agency, often referred to as a creative agency or an ad agency, is a business dedicated to creating, planning, and handling advertising and sometimes other forms of promotion and marketing for its clients.
  • Advertising agencies use a wide range of advertising strategies to create marketing campaigns tailored to their clients' needs. Ad agencies work closely with the client to gather information and pitch their campaign ideas, followed by the creative process of actually making and distributing both print and online ads.
QUESTION: 15

State Whether the Following Statements are True or False.
Q. Personal selling relates to short–term incentives or activities that encourage the purchase or sale of a product or service.

Solution:

Personal selling is also known as face-to-face selling in which one person who is the salesman tries to convince the customer in buying a product. It is a promotional method by which the salesperson uses his or her skills and abilities in an attempt to make a sale.
Examples include cars, office equipment (e.g. photocopiers) and many products that are sold by businesses to other industrial customers.

QUESTION: 16

State Whether the Following Statements are True or False.
Q. CRM is the abbreviation for client relationship management.

Solution:

CRM stands for Customer Relationship Management, and it's a technology for managing and supporting customer relationships. CRM technology helps companies build and grow customer relationships across the entire customer lifecycle.

QUESTION: 17

State Whether the Following Statements are True or False.
Q. Good negotiations contribute significantly to business success, as they help in avoiding future problems and conflicts.

Solution:

Good negotiations contribute significantly to business success, as they: help you build better relationships. deliver lasting, quality solutions, rather than poor short-term solutions that do not satisfy the needs of either party. help you avoid future problems and conflicts.
Negotiation holds the key to getting ahead in the workplace, resolving conflicts, and creating value in contracts. When disputes arise in business and personal relationships, it's easy to avoid conflict in an effort to save the relationship.

QUESTION: 18

State Whether the Following Statements are True or False.
Q. Vendor management is a term used to describe the process of finding, qualifying and doing business with vendors.

Solution:
  • Vendor management is a term that describes the processes organizations use to manage their suppliers, who are also known as vendors. Vendor management includes activities such as selecting vendors, negotiating contracts, controlling costs, reducing vendor-related risks and ensuring service delivery.
  • Vendor managers facilitate and maintain relationships between your organization and vendors/partners, negotiating contracts, creating standards for the vendors, and finding the best available vendors.
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