MCQs Ch- 5 – Market

Entrepreneurship

One Mark Questions – Specially Designed for CBSE Class 11 Entrepreneurship Students

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Answers are shown in bold

1. __________ refers to carrying on business activities both industrial and commercial through computer network i.e. Internet. wherever the internet can reach that place has become a probable market. Fill in the blank with a suitable type of Market.

a) E-Commerce
b) E-Business
c) Traditional Market
d) Modern Market

E-Business

2. The release of the movie Laxmi was opposed by certain segments of society, as they thought that the name aims to derogate a specific community. Which aspect of the business environment is being discussed here?

a. Demographic Environment
b. Cultural Environment
c. Technological Environment
d. Political Environment

Cultural Environment

3. Yahoo tours is a travel agency that books Railway tickets on a commission basis. During the last year, there has been a drastic decrease in business as most of the customers have shifted to another travel agency Shiva tours and Travel which provides tickets within half an hour through the internet. Identify the External force which is being overlooked by Yahoo tours?

a. Demographic environment
b. Cultural Environment
c. Technological Environment
d. Social Environment

Technological Environment

4. ________________ facilitate the work of consummating exchange in the market.

a. Supplier
b. Consumer
c. Market Intermediary
d. Producer

c. Market Intermediary

5. Which of the following statements accurately differentiates between Microenvironment and Macro Environment?

a. Macroenvironment means Small and Micro Environment means Large.
b. Micro Factors include Technological changes and Macro forces include suppliers.
c. Micro forces directly affect the business and Macro forces indirectly affect the business.
d. Micro forces are uncontrollable and macro forces are controllable.

c. Micro forces directly affect the business and Macro forces indirectly affect the business.

6. Amrutanjan was the market leader in the balm market when Vicks VapoRub was launched After understanding the market Vicks VapoRub decided to position the brand Vicks VapoRub exclusively as a rub for colds. Later once again based on its market findings, it relaunched itself with a stronger formulation for faster relief. In the next few years, Vicks VapoRub became the largest selling brand for cold remedies. Which of the following factor has played important role in the success of Vicks VapoRub?

a. Analysing the Market environment
b. Researching the Market
c. Expanding the Markets
d. Marketing Mix

b. Researching the Market

7. Which of the following is not the characteristic of good marketing information?

a. Accuracy
b. Completeness
c. Punctuality
d. Extravagance

d. Extravagance

8. Which of the following statements is true?

a. Market Research and Market survey are one and the same.
b. Market research is an instrument used in the Market survey.
c. The Census method and Sample method are two types of Market survey.
d. All of the above

c. The Census method and Sample method are two types of Market survey.

9. Coca-Cola purchased Thumbs up and Gold spot for Rs. 180 crores while Pepsi took over Dukes the Bombay-based owner of soft drink branded as Magnolia. Colgate bought Ciba Geigy,s Cibaca range of toothpaste and brushes for Rs. 131 crores. Which of the following is the main objective behind the above deals?

a. Analyzing the Market Environment
b. Expanding the Market
c. Market Research
d. Marketing Mix

b. Expanding the Market

10. Which of the following strategy is followed by an Entrepreneur in the starting phase of their business.

a. Expansion Strategy
b. Stability strategy
c. Intensive expansion strategy
d. Market development strategy

b. Stability strategy

11. The concept of cards in India was limited to festivals and birthdays. Archie’s aggressively promoted cards more as a medium of communication than as a way to merely sending Good Wishes. Which of the following strategy is followed by Archie that helped it to grow its existing customer base to buy the same product?

a. Market development strategy
b. Integrative Expansion strategy
c. Product development strategy
d. Penetration strategy

d. Penetration strategy

12. For manufacturing of Nirma detergent, an important raw material used Linear Alkaline Benzyne which was earlier purchased is now manufactured by Nirma itself. Which of the following type of Expansion done by Nirma in the above case?

a. Horizontal expansion
b. Backward expansion
c. Forward expansion
d. None of the above

b. Backward expansion

13. Which is the extractive industry?

a. Building Construction
b. Plantation
c. Mining
d. Textile

c. Mining

14. Farhan a young man wants to provide employment to the local people of his village. He decided to do the wholesale business of mobile phones made by the latest technology. But the very first question which arose in his mind was how will the goods be brought from distant places. Identify Which of the following Auxiliaries to trade may solve the problem of Farhan

a. Warehousing
b. Advertising
c. Banking
d. Transportation

d. Transportation

15. Wadhwa Mart is marketing its products online. identify the channel of distribution being adopted by the company.

a. Zero level channel
b. One level channel
c. Two-level channel
d. Three-level channel

a. Zero level channel

16. within a very short period, Shalini Ltd has created a very positive reputation
for itself and its products in the eyes of the general public by participating in social
welfare activities and programs. which of the following Promotion Mix is being discussed here?

a. Personal selling
b. Advertising
c. Public relation
d. All of the above

c. Public relation

17. Which of the following elements of the marketing mix is key to revenue for a business?

a. Price Mix
b. Product Mix
c. Promotion Mix
d. Place Mix

a. Price Mix

 

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