Prepare for your Marketing exam with our growing list of marketing past questions and answers.
Use the following information to answer the question
Provision of overdraft to members
Rendering security services to members
Disseminating information to members
Provision of employment to members
Correct answer is C
Disseminating information to members: The organization would likely serve as a platform to distribute relevant information to its members. This could include updates about market conditions, price fluctuations, government policies, or any other information that may affect the yam sellers' business.
Use the following information to answer the question
market union
trade union
trade association
market operator
Correct answer is C
Based on the given information, the organization formed by the yam sellers in Alesinloye trading area in Kano is most likely a trade association. A trade association is a voluntary organization composed of individuals or businesses in a specific industry or trade. It aims to promote the common interests and welfare of its members and may engage in activities such as advocating for industry-specific issues, providing resources and support to members, and fostering collaboration and networking within the industry.
Air transport is preferred to other modes because it is
faster in transporting goods for long distance
relatively cheaper than other modes
suitable for door-to-door services
affected by weather conditions
Correct answer is A
Air transport is preferred to other modes because it is faster in transporting goods for long distances. Air transportation offers rapid delivery times, especially for long distances, due to its high speed compared to other modes of transportation such as sea or land. Airplanes can cover large distances in a relatively short amount of time, making it ideal for time-sensitive shipments or perishable goods that require quick delivery. While air transport may not always be the most cost-effective option compared to other modes, its speed and efficiency make it highly desirable for time-critical shipments or when the priority is on fast delivery.
Psychological pricing
Skimming pricing
Competitive pricing
Penetrating pricing
Correct answer is C
The pricing strategy adopted by a company that sells its product for ₦200 when the prevailing market price for the same product is ₦150 is competitive pricing. Competitive pricing involves setting the price of a product or service based on the prices charged by competitors in the market. The company sets its price at a similar or slightly higher level compared to competitors' prices to remain competitive and attract customers. In this case, the company is pricing its product at ₦200, which is aligned with the prevailing market price of ₦150, indicating a competitive pricing strategy.
Use the following information to answer this question
a producer
a retailer
an agent
a wholesaler
Correct answer is B
Ernest Super Market, which buys products from OJ Ltd for resale, is classified as a retailer. Retailers are businesses that sell products directly to consumers, typically through physical stores or online platforms. In this case, Ernest Super Market acts as the intermediary between OJ Ltd (the producer) and the end consumers by purchasing bakery products from OJ Ltd and selling them to individual customers in its supermarket.
Use the following information to answer this question
This is an example of
a reseller market
a consumer market
an industrial market
a government market
Correct answer is A
OJ Ltd, being a bakery that produces bread and confectioneries, is an example of a supplier operating in the reseller market. The reseller market consists of businesses that purchase products or services with the intention of reselling them to customers, rather than using them directly for their own operations. In this case, OJ Ltd sells its bakery products to Ernest Super Market, which acts as a reseller by purchasing the products for resale to consumers.
A form of sales promotion that rewards customers for consistently purchasing a company's product is
sales contest
quantity discount
loyalty scheme
promotional allowance
Correct answer is C
A form of sales promotion that rewards customers for consistently purchasing a company's product is a loyalty scheme. A loyalty scheme, also known as a customer loyalty program or rewards program, is designed to incentivize and reward customers for their continued loyalty and repeated purchases. Customers who participate in a loyalty scheme earn points, rewards, or other benefits based on their purchases or other predefined criteria. These rewards can include discounts, free products, exclusive offers, access to special events, or other incentives. By implementing a loyalty scheme, businesses aim to foster customer loyalty, increase customer retention, and encourage repeat purchases, ultimately strengthening the relationship between the customer and the company.
production concept
product concept
societal concept
selling concept
Correct answer is D
The selling concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the selling company's products. The organization must, therefore, undertake an aggressive selling and promotion effort.
A delivery note that accompanies goods to the buyer shows
discount on goods bought
quality of goods bought
price of goods bought
quantity of goods bought
Correct answer is D
The delivery note specifies the quantity of goods being delivered to the buyer. It may include details such as the number of units, weight, volume, or any other relevant measurement unit for the specific goods.
selling product
societal marketing concept
production concept
product concept
Correct answer is B
Societal responsiblity of marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumer's wants, the company;s requirements, but also societal's long term interests.
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