Quiz 1 - Chapter 1 & 2
Questions and Answers
- 1.
There are 4 (four) ways to produce an income, which is through employee, business owners, self-employed and investor. Select the best ways that can generate the most income.
- A.
Employee
- B.
Business owners
- C.
Self-employed
- D.
Investor
Correct Answer
B. Business ownersExplanation
Business owners have the potential to generate the most income compared to the other options listed. As a business owner, one has the opportunity to build and grow a successful business, which can lead to significant profits and financial success. Unlike being an employee or self-employed, where income is often limited by a fixed salary or hourly wage, business owners have the ability to scale their earnings by expanding their business, increasing sales, and maximizing profits. Additionally, business owners can benefit from various tax advantages and have the potential to build long-term wealth through the value of their business.Rate this question:
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- 2.
Select the best statement that best describe internet or online marketing
- A.
The process of promoting brand, product or services over the internet.
- B.
The process of promoting product or services only over the internet.
- C.
The process of promoting brand, product or services through online and offline.
- D.
The process of promoting brand, product or services through offline.
Correct Answer
A. The process of promoting brand, product or services over the internet.Explanation
The correct answer is "The process of promoting brand, product or services over the internet." This statement accurately describes internet or online marketing as the process of promoting a brand, product, or service specifically through online channels. It implies that traditional offline marketing methods are not included in this process.Rate this question:
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- 3.
Choose the correct statement on the advantages of social media marketing
- A.
High commitment of resources to managing your social media presence, responding to feedback and producing new content
- B.
Ineffective use - for example, using the network to push for sales without engaging with customers, or failing to respond to negative feedback - may damage your reputation
- C.
Difficult to quantify the return on investment
- D.
Compelling and relevant content will grab the attention of potential customers and increase brand visibility
Correct Answer
D. Compelling and relevant content will grab the attention of potential customers and increase brand visibilityExplanation
Compelling and relevant content is an advantage of social media marketing because it can attract the attention of potential customers and increase brand visibility. By creating content that is engaging and tailored to the target audience, businesses can effectively promote their products or services on social media platforms. This can lead to increased brand awareness, customer engagement, and potentially more conversions.Rate this question:
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- 4.
There are several platforms of social media that can be used to promote brand, products and services. Choose the best combination of social media platform to integrate social media into your business
- A.
Facebook , pinterest and instagram only
- B.
Facebook , twitter, pinterest
- C.
Instagram, whatsapp, facebook and website
- D.
Instagram, facebook and youtube
Correct Answer
C. Instagram, whatsapp, facebook and websiteExplanation
This combination of social media platforms includes Instagram, WhatsApp, Facebook, and a website. Instagram is a popular platform for sharing visual content, which can be used to showcase products and services. WhatsApp is a messaging app that allows for direct communication with customers. Facebook is a widely used social media platform with a large user base, making it ideal for reaching a wide audience. A website is essential for providing detailed information about the brand, products, and services. This combination covers various aspects of social media marketing, including visual content, direct communication, broad reach, and detailed information.Rate this question:
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- 5.
Which statement that best describe the advantages of social media platform?
- A.
Geotarget content and are able to generate higher converting leads.
- B.
Slow and difficult in sharing content
- C.
Does not encourage in building relationship
- D.
Real-time results are hard to obtain.
Correct Answer
A. Geotarget content and are able to generate higher converting leads.Explanation
Social media platforms have the advantage of being able to geotarget content, meaning that businesses can tailor their messages to specific geographic locations. This helps in reaching the right audience and increasing the chances of generating higher converting leads. By utilizing geotargeting, businesses can focus their efforts on specific regions or demographics, resulting in more effective marketing campaigns.Rate this question:
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- 6.
What is a business model?
- A.
It is a documentation on how to manage company’s employee
- B.
It is a blueprint on company’s organizational structure.
- C.
It is a documentation on how the company’s capture consumer’s value.
- D.
It is a blueprint on how an organization creates, delivers and captures value
Correct Answer
D. It is a blueprint on how an organization creates, delivers and captures valueExplanation
A business model refers to the overall strategy and approach that an organization uses to create, deliver, and capture value. It encompasses various aspects such as the products or services offered, target customers, revenue streams, cost structure, and competitive advantage. It outlines the way in which the organization operates and generates profits by providing value to its customers and stakeholders.Rate this question:
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- 7.
Business model canvas consist _______________ blocks to understand the overall picture of the chosen business.
- A.
10
- B.
8
- C.
9
- D.
6
Correct Answer
C. 9Explanation
The Business Model Canvas consists of 9 blocks that help in understanding the overall picture of a chosen business. These blocks include key elements such as customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. Each block provides valuable insights into different aspects of the business and helps in analyzing its overall structure and strategy.Rate this question:
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- 8.
BMC stands for:
- A.
Big model canvas
- B.
Business minimize cost
- C.
Business model canvas
- D.
Big maximize cost
Correct Answer
C. Business model canvasExplanation
BMC stands for Business Model Canvas. The Business Model Canvas is a strategic management tool that helps businesses to visualize and analyze their business model. It provides a framework for identifying key elements of a business, such as customer segments, value propositions, channels, customer relationships, revenue streams, key activities, key resources, key partnerships, and cost structure. The Business Model Canvas is widely used by entrepreneurs and organizations to develop, communicate, and improve their business models.Rate this question:
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- 9.
The best definition for USP is :
- A.
Unique Selling Price
- B.
Unique Sellable Picture
- C.
Unbeatable Show Price
- D.
Unique Selling Proposition
Correct Answer
A. Unique Selling PriceExplanation
USP stands for Unique Selling Proposition, which refers to a distinctive and compelling aspect of a product or service that sets it apart from competitors and makes it more appealing to customers. It is a unique feature or benefit that makes a product or service stand out and gives it a competitive advantage in the market. It is not related to the price of the product, but rather focuses on the unique value it offers to customers.Rate this question:
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- 10.
Customer Relationships a part of Business Model Canvas?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Customer Relationships is indeed a part of the Business Model Canvas. The Business Model Canvas is a strategic management tool that helps businesses to visualize, analyze, and design their business models. It consists of nine key building blocks, including Customer Relationships. This building block focuses on the types of relationships a company establishes and maintains with its customers. It includes aspects such as customer acquisition, customer retention, and customer support. By understanding and managing customer relationships effectively, businesses can enhance customer satisfaction, loyalty, and ultimately, their overall success.Rate this question:
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- 11.
Kelly is planning to open a Lemonade stand. In order to sell lemonade, she needs to do marketing, selling and making lemonade. Base on what she have to do, which block in Business Model canvas that best categorize on what she have to do?
- A.
Key Partners
- B.
Key activities
- C.
Value proposition
- D.
Relationship
Correct Answer
B. Key activitiesExplanation
The block in the Business Model Canvas that best categorizes what Kelly needs to do for her lemonade stand is "Key activities." This block represents the core tasks and actions that a business must undertake to deliver its value proposition and generate revenue. In this case, Kelly's key activities would include marketing her lemonade, selling it to customers, and making the lemonade itself.Rate this question:
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- 12.
What is a customer segmentation?
- A.
It is an application on how to get customer’s data.
- B.
It is an application of clustering techniques to customer data.
- C.
It is a customer base
- D.
It is a customer base that obtain through selling activity
Correct Answer
B. It is an application of clustering techniques to customer data.Explanation
Customer segmentation refers to the process of dividing a customer base into distinct groups or segments based on their similar characteristics, behaviors, or preferences. This allows businesses to better understand their customers and tailor their marketing strategies and offerings to specific segments. The correct answer states that customer segmentation is an application of clustering techniques to customer data, which accurately describes the process of grouping customers based on similarities in order to better target and serve them.Rate this question:
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- 13.
There are four main bases of segmentation which consist:-
- A.
Geographic, demographic, behavioural and psychographic
- B.
Age, gender, location and salary and psychographic
- C.
Geographic, psychographic, macroscopic and microscopic
- D.
Microscopic and macroscopic data
Correct Answer
A. Geographic, demographic, behavioural and psychographicExplanation
The correct answer is Geographic, demographic, behavioural and psychographic. These are the four main bases of segmentation used in marketing and market research. Geographic segmentation involves dividing the market based on location or region. Demographic segmentation involves dividing the market based on factors such as age, gender, and income. Behavioural segmentation involves dividing the market based on consumer behavior, such as buying patterns or product usage. Psychographic segmentation involves dividing the market based on psychological factors such as lifestyle, values, and attitudes. These four bases of segmentation help companies target specific customer groups and tailor their marketing strategies accordingly.Rate this question:
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- 14.
“ Personality, lifestyle , attitudes and class” can be classified under which segmentation?
- A.
Geographic
- B.
Demographic
- C.
Micrographic
- D.
Psychografic
Correct Answer
D. PsychograficExplanation
Personality, lifestyle, attitudes, and class are all factors that are used to classify individuals based on their psychological characteristics and behaviors. This type of segmentation is known as psychographic segmentation. It focuses on understanding the motivations, interests, and values of individuals in order to target them with marketing messages that resonate with their unique personalities and lifestyles.Rate this question:
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- 15.
Customers can be classified into customer segments. For example, Mr. A is keen to purchase branded items regardless how much does it cost. Which customer segments do you think Mr. A belongs to?
- A.
Convenience seekers
- B.
Brand buyers
- C.
Casual buyers
- D.
Bargain hunters
Correct Answer
A. Convenience seekersExplanation
Mr. A belongs to the convenience seekers customer segment because he is willing to purchase branded items regardless of the cost. Convenience seekers prioritize convenience and are willing to pay a higher price for the convenience of purchasing branded items.Rate this question:
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- 16.
ROI or return on Investment is referring to :
- A.
Repeat on investment
- B.
Reorder on investment
- C.
Return on investment
- D.
Repeat on index
Correct Answer
C. Return on investmentExplanation
ROI or return on investment is a financial metric used to evaluate the profitability of an investment. It measures the return or profit generated from an investment relative to its cost. ROI is calculated by dividing the net profit of the investment by its cost and expressing it as a percentage. This metric is commonly used by businesses and investors to assess the efficiency and profitability of different investment opportunities.Rate this question:
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- 17.
What is the key performance index for sales?
- A.
Income
- B.
Profit
- C.
Minimizing cost
- D.
Maximizing sales
Correct Answer
B. ProfitExplanation
The key performance index for sales is profit because profit is the ultimate goal of any business. While income and maximizing sales are important factors, they do not necessarily indicate the overall success of a sales department. Profit takes into account both income and costs, providing a more accurate measure of the effectiveness and efficiency of sales efforts. By focusing on maximizing profit, businesses can ensure long-term sustainability and growth.Rate this question:
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- 18.
What is the main sales objective?
- A.
Maximizing cost and maximizing profits
- B.
Minimizing cost and minimizing profits
- C.
Minimizing profits and maximizing cost
- D.
Minimizing cost and maximizing profits
Correct Answer
D. Minimizing cost and maximizing profitsExplanation
The main sales objective is to minimize cost and maximize profits. This means that the primary goal is to reduce expenses and increase revenue in order to achieve the highest possible level of profitability. By minimizing costs, the company can improve its profit margins and increase its overall financial performance. At the same time, maximizing profits ensures that the company is generating the highest possible return on its investment and creating value for its shareholders.Rate this question:
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- 19.
B have a total sale of her cosmetic product amounted to RM 100,000 with an expenses of advertisement equals to RM 25,000. Determine ROI for Mrs. BOK
- A.
3
- B.
6
- C.
4
- D.
5
Correct Answer
A. 3Explanation
The ROI (Return on Investment) is calculated by subtracting the expenses from the total sales and then dividing the result by the expenses. In this case, the total sales are RM 100,000 and the expenses are RM 25,000. So, the ROI for Mrs. BOK can be calculated as (100,000 - 25,000) / 25,000 = 3. This means that for every RM 1 spent on advertising, Mrs. BOK earns RM 3 in sales.Rate this question:
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- 20.
Mr. Rizal invested a sum of RM 50,000 in FB advertisement. As a result of that online advertising, He manage to get a total sale of RM 500,000 in return. Calculate ROI for Mr. Rizal
- A.
9
- B.
10
- C.
11
- D.
13
Correct Answer
A. 9Explanation
The ROI (Return on Investment) is calculated by dividing the net profit by the cost of the investment and expressing it as a percentage. In this case, the net profit is the total sale of RM 500,000 minus the initial investment of RM 50,000, which equals RM 450,000. Dividing RM 450,000 by RM 50,000 gives a result of 9. Therefore, the ROI for Mr. Rizal is 9.Rate this question:
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Mar 15, 2018Quiz Created by
Asniza
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