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Management Sciences 5307 MCQs [All-Courses]

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Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

All Topics  5307

The pricing strategy for new product through which revenues are collected from segments willing to pay higher prices is classified as?
A market skimming pricing
B market penetration strategy
C business line pricing
D product line pricing
Correct Answer: market skimming pricing
The kind of pricing strategy in which one product or service is sold for two different prices without any differences in cost is classified as?
A segmented pricing
B psychological pricing
C promotional pricing
D geographical pricing
Correct Answer: segmented pricing
The product life cycle (PLC) stages includes?
A product development
B growth
C maturity and decline
D all of above
Correct Answer: all of above
In the ‘growth stage of product life cycle’ the cost per customer is?
A high
B low
C average
D moderate
Correct Answer: average
The process of involving the pool of communities for idea building such as customers, employees and even public at large is classified as?
A crowdsourcing
B internal sourcing
C off sourcing
D off shoring
Correct Answer: crowdsourcing
Considering pricing strategies, the price issue that arise when sellers set prices with opinion from competitors is classified as?
A price fixing
B predatory pricing
C price maintenance
D discriminatory pricing
Correct Answer: price fixing
The second step in cost based pricing is to?
A set price based on cost
B convince buyer about products value
C design a product
D determine cost of product
Correct Answer: determine cost of product
The first step of cost based pricing strategy is to?
A design a product
B determine cost of product
C set price based on cost
D convince buyer about products value
Correct Answer: design a product
The first step of value based pricing is to?
A assess needs of customer
B set target price
C determine incurred costs
D design product
Correct Answer: assess needs of customer
If customers perceive that price of product is greater than the value it provides to customer then the customer?
A would get free products
B would get discount
C would buy product
D would not buy product
Correct Answer: would not buy product
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