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Question : Statement 1: Sales promotion techniques aim to increase short-term sales and consumer interest.

Statement 2: Sales promotion techniques have an impact on consumer purchasing decisions.

 

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is false.

Team Careers360 14th Jan, 2024

Correct Answer: Both statements are correct.


Solution : The correct answer is (a) Both statements are correct.

Statement 1 is correct. Sales promotion techniques are designed to stimulate immediate sales and generate consumer interest in the short term through various strategies like discounts, coupons, contests, and limited-time offers.

Statement 2 is correct. Sales promotion techniques do indeed impact consumer purchasing decisions. These promotions often influence consumers to make a purchase by offering incentives, discounts, or attractive deals, affecting their decision-making process.

12 Views

Question : Statement 1: Sales promotion techniques aim to increase short-term sales and consumer interest.

Statement 2: Sales promotion techniques have an impact on consumer purchasing decisions.

 

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is false.

Team Careers360 23rd Jan, 2024

Correct Answer: Both statements are correct.


Solution : The correct answer is (a) Both statements are correct.

Statement 1 is correct. Sales promotion techniques are designed to stimulate immediate sales and generate consumer interest in the short term through various strategies like discounts, coupons, contests, and limited-time offers.

Statement 2 is correct. Sales promotion techniques do impact consumer purchasing decisions. These promotions often influence consumers to make a purchase by offering incentives, discounts, or attractive deals, affecting their decision-making process.

3 Views

Question : Case Study 20:

IJK Retail is a chain of retail stores. The company aims to maintain consistent customer service standards across all its outlets.

Question:

What would be the first step for IJK Retail in the process of controlling?

 

Option 1: Setting customer service standards.

Option 2: Measuring customer satisfaction.

Option 3: Comparing sales data with targets.

Option 4: Taking corrective action.

Team Careers360 11th Jan, 2024

Correct Answer: Setting customer service standards.


Solution : The correct answer is (a) Setting customer service standards.

In the process of control, the first step for IJK Retail would be setting customer service standards. Control begins with establishing clear and specific standards or goals against which performance will be measured. In this case, the company needs to define the expected customer service standards that it wants to maintain across its outlets before it can measure, compare, and take corrective action if necessary.

4 Views

Question : Identify at what level of management the sales manager is engaged. 

Option 1: Top level management 

Option 2: Middle level management 

Option 3: Operational-level management 

Option 4: None of the above

 

Team Careers360 12th Jan, 2024

Correct Answer: Middle level management 


Solution : Sales managers are included in the middle level of management. The middle level consists of heads of different functional departments like department managers and other executive officers attached to different departments.

Hence, Option B is correct.

73 Views

Question : Case Study 1:

ABC Ltd. is a well-established manufacturing company that has been operating for several years. Recently, the company faced a decline in sales due to the economic recession in the country.

Q :- Why is understanding the business environment important for ABC Ltd.?
 

 

Option 1: To ensure complete control over external factors

Option 2: To analyze the internal structure of the company

Option 3: To identify potential opportunities and threats in the market

 

Option 4: To determine the pricing strategy for existing products

Team Careers360 7th Jan, 2024

Correct Answer: To identify potential opportunities and threats in the market

 


Solution : The correct answer is (C) To identify potential opportunities and threats in the market

Understanding the business environment is important for ABC Ltd. (and for any business) because it helps in identifying potential opportunities and threats in the market. By being aware of external factors, such as economic conditions, competition, and market trends, ABC Ltd. can make informed decisions and adapt its strategies to capitalize on opportunities and mitigate potential threats. This understanding allows the company to be more responsive and better prepared to navigate the challenges and changes in the market.

14 Views

Question : Statement 1: Selling concept aims to build customer loyalty and long-term relationships.

Statement 2: Marketing concept solely focuses on achieving short-term sales goals.

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is incorrect.

Team Careers360 24th Jan, 2024

Correct Answer: Statement 1 is correct, and statement 2 is false.


Solution : The correct answer is (b) Statement 1 is correct, and statement 2 is false.

Statement 1 is incorrect. The selling concept primarily focuses on short-term sales and transactions rather than building customer loyalty and long-term relationships. It often involves aggressive sales tactics to close deals but may not prioritize long-term relationships.

Statement 2 is false. The marketing concept does not solely focus on achieving short-term sales goals. It emphasizes understanding customer needs and creating value for customers, aiming for long-term relationships and customer satisfaction.

Therefore, statement 1 is correct, and statement 2 is false.

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