Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
public relations
advertising
sales promotion
rebranding
Correct answer is A
Public relations is the professional maintenance of a favourable public image by a company or other organization. It is done to create a good name and impression for about a brand.
The label on a product such as 'pampers' is a type of?
trademark
branding
packaging
patent right
Correct answer is A
Trademark is a symbol, word, or words legally registered or established by use as representing a company or product.
The best pricing strategy for a company that produces warm clothing is?
target return pricing
bid pricing
variable pricing
product line pricing
Correct answer is D
product line pricing, is a marketing process wherein products or services within a specific group are set at different price points.
Wherever quality is a variable, product line pricing can be effective. Clothing is a great example: an outlet is likely to have product lines based on the material and tailoring quality of different items of clothing.
The main concern of marketing concept is to?
reduce the number of retail outlets
identify consumer needs and satisfy them
increase sales to meet consumers needs
encourage division of labour
Correct answer is B
Marketing is “the process of identifying, anticipating (predicting) and satisfying customer needs profitably”. Hence marketing concepts are set to identify consumer needs and satisfy them accordingly.
The conversion of raw materials into finished goods leads to the creation of?
form utility
product utility
possession utility
place utility
Correct answer is A
Form utility is the value a consumer sees in a finished product.