Correct Answer: Event Marketing

Solution : The correct answer is (b) Event Marketing. 

By sponsoring a local charity event and having its logo featured on promotional materials, ABC Electronics is engaging in event marketing. Event marketing involves promoting a brand or product through participation or sponsorship of events, which can enhance brand visibility, create positive associations, and connect with the target audience present at the event. Trade shows, samples, and loyalty programs are different forms of sales promotion with distinct strategies and goals.

Correct Answer: Enhanced Consumer Trust

Solution : The correct answer is (b) Enhanced Consumer Trust. 

By investing in building a strong brand for their products, XYZ Electronics has created a positive image and reputation in the minds of consumers. This leads to enhanced consumer trust, as consumers are more likely to trust and be loyal to a brand they recognize and perceive as valuable. A strong brand also signifies consistent quality and reliability, further contributing to consumer trust and loyalty. Increased production efficiency, lower product costs, and reduced marketing expenses are potential benefits of effective branding but are not explicitly demonstrated in this case.

Correct Answer: Vision and goals

Solution : The correct answer is (c) Vision and goals.

The directing process involves guiding and leading employees to work in a way that aligns with the organization's overall vision, goals, and objectives. This ensures that employees understand the organization's purpose and are focused on contributing to its success in a coordinated manner.

Correct Answer: Preference shares pay higher dividends
 

Solution : The correct answer is (a) Preference shares pay higher dividends

Preference shares typically have fixed dividend rates, and shareholders holding preference shares are entitled to receive these fixed dividends before any dividends are distributed to equity shareholders. This characteristic often makes preference share dividends appear higher or more stable compared to the variable dividends associated with equity shares.

Correct Answer: Trade Allowances

Solution : The correct answer is (b) Trade Allowances. 

Trade allowances involve offering discounts or special deals to distributors or retailers based on achieving specific sales targets within a given period. In this case, ABC Electronics is providing special deals and discounts to its distributors who meet a particular sales target, which aligns with the concept of trade allowances. Price bundling, referral programs, and coupons are distinct sales promotion techniques with different incentives and strategies.

Correct Answer: Enhanced Customer Relationships

Solution : The correct answer is (c) Enhanced Customer Relationships. 

Advertising can help in establishing a connection with the customers by showcasing the innovative gadgets and technology of XYZ Electronics. By creating awareness and fostering positive perceptions through advertising, XYZ Electronics can enhance its relationship with customers. Effective advertising can build trust, credibility, and engagement with the audience, ultimately leading to stronger and more positive customer relationships.

Correct Answer: Decisions should be based on data and scientific analysis.

Solution : The correct answer is (b) Decisions should be based on data and scientific analysis.

Decisions should be based on data and scientific analysis, This statement directly aligns with the principle of "Science, not the rule of thumb," which advocates for decisions grounded in data, analysis, and scientific methods rather than arbitrary or subjective approaches.

In summary, the principle of "Science, not the rule of thumb" suggests that decisions within ABC Electronics should be made based on data and scientific analysis, promoting a logical and evidence-based approach to decision-making.

Correct Answer: Foster a positive work environment

Solution : The correct answer is (c) Foster a positive work environment.

Empathy and patience are important qualities for a supervisor to foster a positive work environment. Empathy allows the supervisor to understand and relate to the concerns and feelings of their team members, promoting a supportive and understanding atmosphere. Patience enables the supervisor to listen, address issues calmly, and work through challenges with the team, contributing to a positive and harmonious workplace. These qualities are essential for promoting a healthy and collaborative work environment, not conflicts or autocratic approaches.

Correct Answer: Decisions should be based on data and scientific analysis.

Solution : The correct answer is (b) Decisions should be based on data and scientific analysis.

Decisions should be based on data and scientific analysis directly aligns with the principle of "Science, not the rule of thumb," which advocates for decisions grounded in data, analysis, and scientific methods rather than arbitrary or subjective approaches.

In summary, the principle of "Science, not the rule of thumb" suggests that decisions within ABC Electronics should be made based on data and scientific analysis, promoting a logical and evidence-based approach to decision-making.

Correct Answer: Cost-Plus Pricing

Solution : The correct answer is (d) Cost-Plus Pricing. 

ABC Electronics sets its prices based on market demand, competitor pricing, and production costs. Cost-Plus Pricing involves calculating the total cost to produce a product or service and then adding a markup (a certain percentage or amount) to cover desired profit. In this scenario, ABC Electronics considers production costs (the "cost" part of cost-plus pricing), along with market demand and competitor pricing, to determine the appropriate pricing for their electronic products.