UGC NTA NET/JRF Exam, Management, December-2020/June-2021

Total Questions: 100

21. __________ usually have intensive distribution because sales of these products tend to have a direct relationship to their availability

Correct Answer: (a) Convenience Goods
Solution:

Convenience goods are those consumer goods which the customer usually purchases frequently, immediately and with the minimum of effort in comparison and buying. These are the goods which the consumer desires to purchase with the minimum of effort at the most convenient and accessible store. Convenience goods usually have intensive distribution because sales of these products tend to have a direct relationship to their availability.

22. Which phrase best completes the statement below?

One of the key tasks of a marketer is to ______ and to create a perception among consumers that the product is worth purchasing.

Correct Answer: (c) Differentiate their products from those of competitors
Solution:

One of the key tasks of a marketer is to differentiate their products from those of competitors and to create a perception among consumer that the product is worth purchasing.

23. When companies offer products in small packages or charge on a pay-per-use-basis, then such strategies are part of:

Correct Answer: (b) Strategies for the bottom-of-the Pyramid
Solution:

When companies offer products in small packages or charge on a pay-per-use basis then such strategies are part of strategies for the Bottom-of-the pyramid. BOP refers to a market based model of economic development that promises to simultaneously all aviate widespread poverty while providing growth and profits for multinational corporations (MNCs).

24. At the business level, organisations need to position their business as being Low-cost leaders or Differentiated. The position when cost leadership is high in terms of lower prices/lower costs and differentiation is low, is called:

Correct Answer: (a) Focused Cost Leaders
Solution:

Focused cost leadership is the first of two focus strategies. A focused cost leadership strategy requires competing based on price to target a narrow market. A firm that follows this strategy does not necessarily charge the lowest prices in the industry.
At the business level, organisations need to position their business as being low-cost leaders or differentiated. The position when cost leadership is high in terms of lower prices/lower costs and differentiation is low is called focused cost leaders.

25. The process of converting a non-productive, inactive asset into a productive asset by selling receivables to a company that specializes in their collection and administration, is described as

Correct Answer: (b) Factoring
Solution:

Factoring is a unique financial innovation. It is both as a financial as well as management support to a client. This is a process of covering non-productive assets (receivables) into a productive one (cash) by selling receivable to a company that specialises in their collection and administration.

26. "Moments of Truth" in services marketing was given by:

Correct Answer: (a) Jan Carlzon
Solution:

The value of a "Moment of Truth" was first conceptualized in the 1980s by 'Jan Carlzon', the CEO of Scandinavian Airlines systems and expanded upon by A.g. Lafley when he was the CEO of proctor & gamble.

27. Which one of the following task is NOT expected to be performed in Sales Management?

Correct Answer: (d) Determining the selling price of the firm's products
Solution:

Sales management is the act of overseeing and leading sales representatives to create strong relationship with prospects and close more deals.
Sales management charge of hiring and firing employees, formulating sales policies, Designing sales territories, selecting and recruitment of sales force, coaching sales representatives and establishing sales territory.
Therefore, determining the selling price of the firm's products task is not expected to be performed in sales management.

28. In the retail industry, a 'Category Killer' is referred to as:

Correct Answer: (b) A specialty store wedded to discounting and domination of a product category
Solution:

Big box store, a category killer is a discount speciality store that offers an extensive selection of merchandise at prices so low that smaller stores cannot compete.
Category killer a speciality store wedded to discounting and domination of a product category.

29. When is the finite population multiplier expected to be approximately equal to one?

Correct Answer: (a) N≥ 20n
Solution:

A factor used a correct the standard and error of the mean for studying a population of finite size that is small in relation to the size to the sample. Therefore, N≥ 20n is the finite population multiplier expected to be approximately equal to one.

30. Which of the following is true with regard to method of least squares used in simple regression analysis?

Correct Answer: (c) It minimises the sum of the squared differences between the actual values of dependent variable and the estimated values of the dependent variable as per regression equation
Solution:

Which of the following the it minimises the sum of the squared differences between the actual values of dependent variable and the estimated values of the depended is true with regard to method of least squares used in simple regression analysis.