HOLISTIC INSTITIUTIONAL ASSESSMENT
MARKETING AND SALES MANAGEMENT
                                            Level II- IV
Read carefully
This institutional assessment contains 80 multiple choice questions and 5 projects in
which 20 tasks are found, the trainee must score 55 % or must answer 44 questions
from the theoretical part and must perform all of the practical( project) questions
correctly to be competent on level 4 holistic institutional assessments.
I have read and agreed on the requirements provided above
Candidate Name                                               signature                 date
ID number                                           SECTION
This assessment will cover the following competencies
NTQF Level II                                   Y   N   NTQF Level III                              Y   N
LSA MSM2 01 1221                                (   (   LSA MSM3 01 1221                            (   (
Understand and undertake marketing activities           Deliver and Monitor Customers Service
LSA MSM2 02 1221                                (   (   LSA MSM3 02 1221                            (   (
Determine and Maintain Business Resources               Plan and Implement Sales
LSA MSM2 03 1221                                (   (   LSA MSM3 03 1221                            (   (
Deliver Customer service                                Coordinate Sales Performance
EIS HNS1 04 1221                                (   (   LSA MSM3 04 1221                            (   (
Process customer Compliant                              Handle mail and Use Business Technologies
LSA MSM2 05 1221                                (   (   LSA MSM3 05 1221                            (   (
Apply Business Technology                               Apply Point of Sales Procedures
LSA MSM2 05 1221                                (   (   LSA MSM3 06 1221                            (   (
Merchandise Products                                    Maintain Business Relationship
LSA MSM2 07 1221                                (   (   LSA MSM3 07 1221                            (   (
Provide Marketing and Promotion Program                 Produce Market and Sales Documents
LSA MSM2 08 1221                                (   (   LSA MSM3 08 1221                            (   (
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Apply 5S Procedures                                        Profile Market
                                              (       (    LSA MSM3 09 1221                           (   (
                                                           Analyze and Achieve Sales Targets
                                              (       (    LSA MSM3 10 1221                           (   (
                                                           Conduct Pre-Campaign Testing
                                              (       (    LSA MSM3 11 1221                           (   (
                                                           Optimize Customer and Territory Coverage
                                              (       (    LSA MSM3 12 1221                           (   (
                                                           Prevent and Eliminate MUDA
Make sure you put a mark on the unit of competencies, if you do agree to
take the assessment.
NTQF Level IV                            Y        N   NTQF Level IV                                   Y   N
LSA MSM4 01 2021                          (       (   LSA MSM4 08 2021                                (   (
Analyze Consumer Behavior for Markets                 Organize the Importing and Exporting of Goods
LSA MSM4 02 2021                          (       (   LSA MSM4 09 2021                                (   (
Conduct Market Research                               Manage Financial Resources
LSA MSM4 03 2021                          (       (   LSA MSM4 10 2021                                (   (
Monitor Advertising                                   Determine price for goods and services
LSA MSM4 04 2021                                      LSA MSM4 11 2021
Present, Secure and Support Sales         (       (   Manage distribution Channel                     (   (
Solutions
LSA MSM4 05 2021                                      LSA MSM4 12 2021
Plan and market goods and services at     (       (   Monitor Implementation of Work Plan             (   (
international level
LSA MSM4 06 2021                          (       (   LSA MSM4 13 2021                                (   (
Conduct Online Transactions                           Identify and Apply Risk Management
LSA MSM4 07 2021                          (       (                                                   (   (
Implement Customer Service Standards
The information provides above is my own.
Candidate Name                                            signature                    date
ID number                               SECTION
                                   HOLISTIC INSTITIUTIONAL ASSESSMENT
                                      ITEM PREPARTION TABLE
                              MARKETING AND SALES MANAGEMENT
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                                             LEVEL: - II-IV
                                                                        Total Time Allowed 3hrs
N     Unit of Competence    UC   LO’S   Questio      % of      No. of      knowledge     Practi   Time
                                        ns TYPE    question   questio                     cal     Allow
o
                                                                ns                                 ed
.                                                                         Choi    Mat
                                                                           ce     ch
1     Marketing and sales   8    35     Knowled     1O%         10          7       -      2      30
                                        ge/pract                                                  MIN
      management level II
                                          ical
2     Marketing and sales   12   48     Knowled      40%        40          32      -      7      70
                                        ge/pract                                                  MIN
     management level III
                                          ical
3     Marketing and sales   13   58     Knowled      50%        50          40      -      11     80
                                        ge/pract                                                  MIN
     management level IV
                                          ical
             Total          33   141                100%       100          80             20     3Hrs
                                                                                         tasks
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1. Which of the following information forms available to the marketing manager can usually be
    accessed more quickly and cheaply than other information sources?
    A. Marketing intelligence                                   C. Customer profiles
    B. Marketing research                                       D. Internal databases
2. All of the following are considered to be drawbacks of local marketing EXCEPT:
    A. It can drive up manufacturing and marketing costs by reducing economies of scale.
    B. It can create logistical problems when the company tries to meet varied requirements.
    C. It can attract unwanted competition.
    D. It can dilute the brand's overall image.
3. Cognitive dissonance occurs in which stage of the buyer decision process model?
    A. Need recognition                                         D. Post purchase behavior
    B. Information search
    C. Evaluation of alternatives
4. That the company that overlooks new and better ways to do things will eventually lose customers to
    another company that has found a better way of serving customer needs is a major tenet of:
      A. Innovative marketing.                                    D. Sense-of-mission marketing.
      B. Consumer-oriented marketing.
      C. value marketing
5. The biggest or greatest amount of involvement in a foreign market comes through which of the
    following?
      A. Exporting                                                D. Direct investment
      B. Joint venturing
      C. Licensing
6. --------is a good offered either free or at low cost as an incentive to buy a product.
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    A. patronage reward                                        D. premium
    B. spiff
    C. price pack
7. Setting call objectives is done during which of the following stages of the selling process?
    A. Prospecting                                             D. Handling objections
    B. Pre approach
    C. Approach
8. Pricing to cover variable costs and some fixed costs, as in the case of some automobile
    distributorships that sell below total costs, is typical of which of the following pricing objectives?
    A. Current profit maximization                             D. Survival
    B. Product quality leadership
    C. Market share leadership
9. In determining sales force size, when a company groups accounts into different size classes and
    then determines the number of salespeople needed to call on them the desired number of times, it is
    called the:
    A. Key-size approach.                                      D.   Call-service approach.
    B. Work-load approach.
    C.   Product-need approach.
10. ----------is products bought by individuals and organizations for further processing or for use in
    conducting a business.
    A. Consumer products                                       D. Specialty products
    B. Services
    C. Industrial products
11. All of the following would be ways to segment within the category of psychographic segmentation
    EXCEPT:
    A. Social class.                                           B. Occupation.
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    C.    Lifestyle.
    D. Personality.
12. The --------is a person within a reference group who, because of special skills, knowledge, personality,
    or other characteristics, exerts influence on others.
    A. Facilitator                                            D. social role player
    B. referent actor
    C. opinion leader
13. Describes changes in an individual's behavior arising from experience.
    A. Modeling                                               D. Learning
    B. Motivation
    C. Perception
14. Concerns that the manufacturers of harmful products such as tobacco have influence on lawmakers
    to the detriment of the public interest is used as evidence of which criticism of marketing?
    A. Too much advertising.                                  D. Too much political power.
    B. Too few social goods.
    C. Cultural pollution.
15. The Internet evolved from a network created by during the 1960s.
     A. the Commerce Department                                C. Northwestern University
     B. the      Massachusetts     Institute    of             D. the Defense Department
          Technology (MIT)
16. In terms of execution styles, a family seated at the dinner table enjoying the advertised product would
    be an example of which of the following types of advertising?
     A. Slice of life                                          C.   Mood or imagery
     B.    Lifestyle                                           D.   Personality symbol
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17. A child in the United States is normally exposed to all of the following values EXCEPT:
     A. Achievement and success.                                D. Collectivism.
     B. Activity and involvement.
     C. Material comfort.
18. Has contractual authority to sell a manufacturer's entire output.
     A. Selling agents                                          D. Purchasing agents
     B. Rack jobbers
     C. Manufacturer's agents
19. Sellers that handle their own exports are engaged in:
     A. Direct exporting.                                       C.   Licensing.
     B. Indirect exporting.                                     D. contract manufacture
20. More and more salespeople are being evaluated and compensated based on different measures than
    in the past. All of the following are illustrations of those measures EXCEPT:
     A. Long-term customer satisfaction.                        C. Full customer service.
     B. Competitive         predatory      pricing              D. Retention rates.
         performance.
21. Includes practices such as overstating the product's features or performance, luring the customer to
    the store for a bargain that is out of stock, or running rigged contests.
       A. Deceptive promotion                                     D. Deceptive cost structure
       B. Deceptive packaging
       C. Deceptive pricing
22. The orange juice manufacturers know that orange juice is most often consumed in the mornings.
    However, they would like to change this and make the drink acceptable during other time periods
    during the day. Which form of segmentation would they need to work with and establish strategy
    reflective of their desires?
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       C. occasion segmentation
       D. age and life-cycle segmentation
23. The typical method of retail operation used by supermarkets and catalog showrooms is called:
       A. Self-service retailing.                                D. Service-merchandiser.
       B. Limited-service retailing.
       C.   Full-service retailing.
24. A (n) are computerized collections of information obtained from data sources within the company.
       A. retrieval systems                                      C. flow diagrams and PERT charts
       B. marketing research reports                             D. internal databases
25. The total number of items that the company carries within its product lines refers to the of the
    product mix.
       A. Width                                                  D. consistency
       B. Depth
       C. Length
26. The use of price points for reference to different levels of quality for a company's related products is
    typical of which product-mix pricing strategy?
     A. Optional-product pricing                               D.   Product line pricing
     B. Captive-product pricing
     C. By-product pricing
27. If a company's objective were to reach masses of buyers that were geographically dispersed at a low
    cost per exposure, the company would likely choose which of the following promotion forms?
     A. Advertising                                            D. Sales promotion
     B. Personal selling
     C. Public relations
28. Using a successful brand name to introduce additional items in a given product category under the
    same brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called
    a(n):
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     C. Multi branding.
     D. New brands.
29. Successful service companies focus their attention on both their customers and their employees.
    They understand, which links service firm profits with employee and customer satisfaction.
     A. internal marketing                                       D. service differentiation
     B. service-profit chains
     C. interactive marketing
30. -------is quoted as saying that "everyone lives by selling something."
     A. Bill Gates                                               D. Henry Ford
     B. Robert Louis Stevenson
     C. Arthur Miller
31. Anything that can be offered to a market for attention, acquisition, use, or consumption that might
    satisfy a want or need is called a(n):
     A. Idea.                                                    D. Service.
     B. Demand.
     C. Product.
32. The type of sales presentation approach that requires good listening and problem solving skills is
    the:
     A. Canned approach.                                         D. Critical-thinking approach.
     B. Formula approach.
     C. Need-satisfaction approach.
33. Yahoo, Info seek, and Excite are all called:
     A. Browsers.                                                B. Webcasters.
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     C. Search engines.
     D. Software.
34. Success depends on how well a company blends its people, organizational structure, decision and
    reward systems, and company culture into a cohesive program that supports its strategies.
     A. marketing strategy                                       D. marketing implementation
     B. marketing control
     C. marketing analysis
35. Wal-Mart owned Sam's club is an example of a retail form called a(n):
     A. Factory outlet.                                          D. Warehouse club.
     B. Super specialty store.
     C. Seconds store.
36. Is the general term for a buying and selling process that is supported by electronic means?
     A. Internet commerce                                        D. Electronic commerce
     B. Web commerce
     C. Computer commerce
37. When a company enters a new product category for which its current brand names are not
    appropriate, it will likely follow which of the following brand strategies?
     A. Product extensions                                       D. New brands
     B. Line extensions
     C. Brand extensions
38. Consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics, or
    behavior who might require separate products or marketing mixes.
     A. Product differentiation                                  D. Market positioning
     B. Market segmentation
     C. Market targeting
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39. Are ads that appear while subscribers are surfing online services or Web sites, including banners,
    pop-up windows, "tickers," and "roadblocks."
     A. Online infomercials                                    D. Online bullets
     B. Online ads
     C. Online broadcasts
40. In terms of special product life cycles, a is a basic and distinctive mode of expression.
     A. Genre                                                  D. Fad
     B. Style
     C. Fashion
41. Is a principle of enlightened marketing that requires that a company seek real product and marketing
    improvements?
     A. Innovative marketing                                   D. Sense-of-mission marketing
     B. Consumer-oriented marketing
     C. Value marketing
42. Many U.S. firms have sought relief from foreign competition by demanding protectionism policies by
    the U.S. government. A better way for companies to compete is to expand into foreign markets and:
     A. Lower prices.                                              home.
     B. Increase promotion both at home and                    D. Join into cartels at home.
         abroad.
     C. Continuously improve their products at
43. Is the process of evaluating each market segment's attractiveness and selecting one or more
    segments to enter?
     A. Mass marketing                                         D. Market positioning
     B. Market segmentation
     C. Market targeting
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44. It is a fact that there are 24 million left-handed people in the United States, however, most marketers
    do not attempt to appeal to or design products for this group because there is little in the way of
    census data about this group. Therefore, this group fails in one of the requirements for effective
    segmentation. Which of the following is most likely to apply in this case?
     A. Actionable                                            D. measurable
     B. Substantial
     C. Differentiable
45. The fact that services are sold, produced, and consumed at the same time refers to which of the
    following service characteristics?
     A. Intangibility                                         D.   Perishability
     B.   Inseparability
     C. Variability
46. Factors are the most popular bases for segmenting customer groups.
     A. Geographic                                            D. Behavioral
     B. Demographic
     C. Psychographic
47. A manufacturer has four sponsorship options. A is a brand created and owned by a reseller of a
    product or service.
     A. licensed brand                                        D. co-brand
     B. manufacturer's brand
     C. private brand
48. When Michael Jordan and Tiger Woods use marketing to promote their careers and improve their
    impact and incomes, they are using:
     A. Cause-related marketing.                              C. Nonprofit marketing.
     B. Idea marketing.                                       D. Person marketing.
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49. 3M runs a Pollution Prevention Pays program that has led to a substantial reduction in pollution and
   costs. This would be an example of responding to which of the following?
    A. Nader's raiders.                                     D. International competition.
    B. The "green movement."
    C. Governmental regulation.
50. When an international seller sells a plant, equipment, or technology to another country and
   agrees to take payment in the resulting products, it is called:
    A. Barter.                                              D. Like-value exchange.
    B. Buy-back.
    C. Counter purchase.
51. The stage is the product life cycle that focuses on expanding market and creating product
   awareness and trial is the:
    A. Decline stage.                                       D. Maturity stage.
    B. Introduction stage.
    C. Growth stage.
52. Which of the following promotional budget methods wrongly views sales as the cause of
   promotion rather than as the result?
    A. Affordable method                                    D. Objective-and-task method
    B. Percentage-of-Sales method
    C. Competitive-parity method
53. If the field sales force has been supplied with new leads(via the telephone)that have been
   qualified, they have probably been assisted by:
    A. Master salespersons.                                 B. Sales assistants.
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    C. Technical support persons.
    D. Telemarketers.
54. Is setting the price steps between various products in a product line based on cost
   differences between the products, customer evaluations of different features, and
   competitors' prices?
    A. Optional-product pricing                         D. By-product pricing
    B. Captive-product pricing
    C. Product line pricing
55. Rolls Royce uses which of the following distribution formats?
    A. Intensive distribution                           D. Open distribution
    B. Exclusive distribution
    C. Selective distribution
56. Drop shippers perform which of the following functions?
    A. Assumes title and ships coal, lumber, or heavy equipment to a buyer.
    B. Stocks the bread rack in a grocery store.
    C. Maintains, owns, and stocks a CD display in a grocery store.
    D. Sells jewelry out of a catalog.
57. A set of interdependent organizations involved in the process of making a product or
   service available for use or consumption by the consumer or business user is called a(n):
    A. Retailer.                                        D. Logistics.
    B. Wholesaler.
    C. Distribution channel.
58. Beliefs and values are open to some degree of change.
    A. Crucial                                          B. Core
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    C. Primary
    D. Secondary
59. According to Engel's law, as income rises:
    A. The percentage spent on food rises.
    B. The percentage spent on housing increases.
    C. The percentage spent on other categories increases.
    D. The percentage spent on savings remains constant.
60. The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate:
    A. Interstate commerce.                               D. Competitive          advertising   of
                                                              objective product benefits.
    B. Marketing ethics.
    C. Unfair     and   deceptive   acts   or
        practices.
61. In evaluating messages for advertising, telling how the product is better than the competing
   brands aims at making the ad:
     A. Meaningful.                                        D. Remembered.
     B. Distinctive.
     C. Believable.
62. When an importing country sets limits on the amount of goods it will accept in certain
   product categories it is called a(n):
    A. Quota.                                             D. Embargo.
    B. Barrier.
    C. Tariff.
63. According to the price/quality strategy matrix, when a company overprices its product in
   relation to its quality it is considered to be using which type of strategy?
    A. Good-value strategy.                               B. Premium strategy.
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    C. Overcharging strategy.
    D. Snob strategy.
64. is the practice of adopting policies and developing strategies that both sustain the
   environment and produce profits for the company.
    A. Environmentalism                                    D. Consumer accountability
    B. Environmental sustainability
    C. Consumerism
65. . It is an arrangement between two or more than two shipping lines to provide regular
   service on certain trade routes at uniform freight rates and common business terms:
     A. Break bulk    B. Conference lines     C. Full Container Load      D. Charter services
66. ______ is a large gantry crane used to load and unload containers onto trucks or railway
    wagons or to store the containers on top of each other in stacks in a container yard.
     A. Transtainer            B. Tramp            C. Slot               D. Parcel
67. . ________is a merchant ship specially designed to transport unpackaged bulk cargo such as
   grain, coal, ore, steel coils, and cement in its cargo holds.
  A. Charter services       B. Conference lines     C. Full Container Load        D. Bulk carrier
68. . ________include vehicle ferries and cargo ships carrying truck trailers or cars:
     A. Roll on/roll off                        C. Less than Container Load
     B. Age/Freight All Kinds                   D. Non-conference lines
69. _____is a kind of transportation system which is ideal for transporting large volumes of
   goods over long distances:
     A. Air freight    B. Sea freight       C. Road freight         D. Rail freight:
70. . _____is the process of securing goods for safe journey to the destination country
   (produced within one boundary and sold beyond it):
     A. Marking                              C. Packing
     B. Stowage                               D. Transshipment
71. ____means a descriptive name, identification number, instructions, cautions, weight,
   specification, or combinations thereof, required on outer packaging of hazardous materials
   or dangerous goods.
     A. Transshipment                              C. Packing
     B. Stowage                                   D. Marking
72. ______means the proper placement of dangerous goods on board a ship in order to ensure
   safety and environmental protection during transport
      A. Stowage                                             C. Packing
      B. Transshipment                                       D. Marking
73. Identifying and eliminating all unnecessary items
    A. Sweeping                                            B. Sorting
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     C. Systematizing
     D. Standardizing
74. Arranging necessary items in good order and easy access
     A. Standardizing                                    D. Sustain
     B. Sweeping
     C. Systematizing
75. Cleaning workplace thoroughly
    A. Sweeping                                      D. Sorting
    B. Standardizing
    C. Sustain
76. Maintaining high standards of housekeeping and workplace organization at all times
     A. Sorting                                         D. Sustaining
     B. Sweeping
     C. Standardizing
77. Creating a culture wherein all members practice the other 5s
    A. Sustaining/self-discipline                        D. Sorting
    B. Sweeping
    C. Standardizing
78. One of the following will not be the benefit of 5s implementation.
 A. Workplace becomes cleaner and better
 B. Space usage is improved
 C. Customer complaints are increased
 D. Shop floor and office operation becomes safer
79. Which of following is an idea, a service or any combination that is an element of exchange
    to satisfy individual or business objectives?
    A. Saving            B. Product           C. Customer              D. Placing
80. One is different from others.
     A. Specialty B. Shopping           C. Unsought     D. Installation     E. Convenience
Project 1: Present, secure and monitor marketing mises
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Total time for the project 0:20 hours
Project description
Euro-Africa Packing is a company that was established in the year 2020 in Duke City
jointly by Italian and Ethiopian investors to produce packaging materials like Prima
packaging used for businesses that produce perishable items used for merchandise,
food items beverage and plastic containers, glass container and paper bags.
Currently, the company is at the final stage to introduce its newly produced products for
she market test by new customer targets to the buyer both in the domestic and foreign
markets. Let's assume that you are working at Euro-Africa Packaging Company
marketing and sales activities at the supervisory level.
Therefore, based on the scenarios given above you are expected to perform the
following tasks;
TASK I. Monitor Advertising
TASK 2. Manage distribution Channel
TASK 3. Present, Secure and Support Sales Solutions
TASK 4. Understand and undertake marketing activities
Project 2: Plan and market goods and services through online to maintain
business relationship
Total time for the project: 0:30 hours
Project description
Ethiopia has become a preferred destination for foreign direct investment and an
emerging hub for manufacturing in Africa due to its growing economy, excellent climate
conditions, strong guarantee for protection, Abandon and affordable labor, and regional
hub with access to a wide market like Common Market for Eastern and Southern Africa
(CMESA) privilege by the USA Under Africa Growth and Opportunity Acct (AGOA).
By observing the above-mentioned opportunities Foreign Direct Investment (FDI) is
started to establish its business in Ethiopia. From those mentioned All Star Textile
Company is e new FDI Entrant Company established in Debrebrihan City with the export
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contractual agreement to sell its final textile product 60% abroad and 40% at the local
market.
A company has different departments mention the Production department, Market and
Sales Department, Inspection and Quality Control Department, Purchasing and
Procurement Department.
Let's assume that you are assigned to the Marketing and Sales Management
Department in charge of doing marketing-related activities in the international market.
Therefore, based on the case study given you are expected to perform the following
tasks.
TASK 1. Plan and market goods and services at international level
TASK 2. Conduct Online Transactions
TASK 3. Identify and Apply Risk Management
TASK 4. Maintain Business Relationship
TASK 5. Handle mail and Use Business Technologies
TASK 6. Apply Point of Sales Procedures
TASK 7. Organize the Importing and Exporting of Goods
Project 3: Plan and coordinate implementations of sales targets
Total time for the project: 0:40 hours
Project description
Global Air Line a star Alliance Member is the first-class Air Line in east Africa that
delivers a wide range of services across the world. The company has newly planned to
reform its pricing strategy, financial report management techniques, and marketing and
sales performance management strategies too.
Among the reform plan, the following documents identified as pricing strategies of the
company.
"marketing and sales department identified that the company covers annually 500
miles, costs fixed Birr 6500 per mile, the variable cost of Birr 1250.00 per mile and
planned to earn 10% of profit margin per mile."
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Task 1. Calculate the following
A. Calculate annual total cost of the company
B. Calculate breakeven point of sales
C. Calculate profit per mile
D. Calculate annual Profit
Task 2. Manage Financial Resources
Task 3. Determine Price for Goods and Services
Task 4. Plan and Implement Sales
Project 4: Profile market and deliver service with standards
Total time for the project: 0:20 hours
Project description
Abyssinia General Business is a business firm located in Oromia regional State Sendafa
town engages in production and selling of different commodities licensed under
Abyssinia General Business to produce textile, leather and furniture products with the
name Abyssinia textile factory, Abyssinia leather factory and Abyssinia Furniture
factory.
To better expand its market coverage and market share the company has planned to
conduct a wide range of market research in profiling its market both at local and
foreign market so as to deliver standard products and service that better attracts and
retain its customers.
Let assume that you are working in the market and sales management department in
charge of doing profiling market, working and delivering standard service to the
company's clients of different categories.
Therefore, based on the above scenarios given, you are expected to perform
/demonstrate the following tasks.
Task l. Implement customer service standards
Task2. Profile market
Task3. Deliver and monitor customer's service
 Tast4. Deliver customer service
Project 5. Managing financial resources 0:15 hours
Ashish engineering CO.Ltd manufactures two articles x & y its sales department has
three divisions: west, south & east. Preliminary sales budgets for the year ending 31st
December 2020, based on the assessments of the divisional executives:
        Product X west 40,000 unit: south 10,000 units & east 20,000 unit
        Product Y west 60,000 units: south 80,000 units & east Nil
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       Sales price XRS 2 & YRS 3 in all areas
   Ø Arrangements are made for the extensive advertising of X & Y and it is estimated
      that west division sales will increase by 20,000 units.
   Ø Arrangements & also made to advertise & distribute product Y in the eastern
      area in second half of 2020 when sales are expected to be 100,000 units.
   Ø Since the estimated sales of the southern division represent an unsatisfactory
      target, it is agreed to increase both the estimates by 10%, Prices for both the
      product will be increased by birr 1
   Ø A study of experience reveals that a shish engineering CO. Ltd has lost about 5%
      of the billed revenue in each annual because of returns (constituting 3% of loss
      revenue) allowance & bad debts (2% loss)
Required
           Task1. Sales budget
                              ANSEW SHEET
                                                           76
                   1             26             51
                                                           77
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HOLISTIC INSTITUTIONAL ASSESMENT Page 21
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   Candidate Name                                      signature             date
   ID number                                  SECTION
   ANSWER KEY
1. Which of the following information forms available to the marketing manager can
   usually be accessed more quickly and cheaply than other information sources?
       · Answer: D. Internal databases
2. All of the following are considered to be drawbacks of local marketing EXCEPT:
       · Answer: C. It can attract unwanted competition.
3. Cognitive dissonance occurs in which stage of the buyer decision process model?
       · Answer: D. Post-purchase behavior
4. That the company that overlooks new and better ways to do things will eventually lose
   customers to another company that has found a better way of serving customer needs
   is a major tenet of:
       · Answer: C. Value marketing
5. The biggest or greatest amount of involvement in a foreign market comes through
   which of the following?
       · Answer: D. Direct investment
6. [Blank] is a good offered either free or at low cost as an incentive to buy a product.
       · Answer: D. Premium
7. Setting call objectives is done during which of the following stages of the selling
   process?
       · Answer: B. Pre-approach
8. Pricing to cover variable costs and some fixed costs, as in the case of some
   HOLISTIC INSTITUTIONAL ASSESMENT Page 22
    automobile distributorships that sell below total costs, is typical of which of the
    following pricing objectives?
        · Answer: D. Survival
9. In determining sales force size, when a company groups accounts into different size
    classes and then determines the number of salespeople needed to call on them the
    desired number of times, it is called the:
        · Answer: B. Work-load approach
10. [Blank] is products bought by individuals and organizations for further processing or for
    use in conducting a business.
        · Answer: C. Industrial products
11. All of the following would be ways to segment within the category of psychographic
    segmentation EXCEPT:
        · Answer: B. Occupation
12. The [blank] is a person within a reference group who, because of special skills,
    knowledge, personality, or other characteristics, exerts influence on others.
        · Answer: C. Opinion leader
13. [Blank] describes changes in an individual's behavior arising from experience.
        · Answer: D. Learning
14. Concerns that the manufacturers of harmful products such as tobacco have influence
    on lawmakers to the detriment of the public interest are used as evidence of which
    criticism of marketing?
        · Answer: D. Too much political power
15. The Internet evolved from a network created by during the 1960s.
        · Answer: D. The Defense Department
16. In terms of execution styles, a family seated at the dinner table enjoying the advertised
    product would be an example of which of the following types of advertising?
        · Answer: A. Slice of life
17. A child in the United States is normally exposed to all of the following values EXCEPT:
        · Answer: D. Collectivism
18. [Blank] has contractual authority to sell a manufacturer's entire output.
        · Answer: C. Manufacturer's agents
19. Sellers that handle their own exports are engaged in:
        · Answer: A. Direct exporting
20. More and more salespeople are being evaluated and compensated based on different
    measures than in the past. All of the following are illustrations of those measures
    EXCEPT:
        · Answer: B. Competitive predatory pricing performance
21. [Blank] includes practices such as overstating the product's features or performance,
    luring the customer to the store for a bargain that is out of stock, or running rigged
    contests.
        · Answer: A. Deceptive promotion
22. The orange juice manufacturers know that orange juice is most often consumed in the
    mornings. However, they would like to change this and make the drink acceptable
   HOLISTIC INSTITUTIONAL ASSESMENT Page 23
    during other time periods during the day. Which form of segmentation would they need
    to work with and establish strategy reflective of their desires?
        · Answer: C. Occasion segmentation
23. The typical method of retail operation used by supermarkets and catalog showrooms is
    called:
        · Answer: A. Self-service retailing
24. A(n) [blank] are computerized collections of information obtained from data sources
    within the company.
        · Answer: D. Internal databases
25. The total number of items that the company carries within its product lines refers to the
    [blank] of the product mix.
        · Answer: A. Width
26. The use of price points for reference to different levels of quality for a company's
    related products is typical of which product-mix pricing strategy?
        · Answer: D. Product line pricing
27. If a company's objective were to reach masses of buyers that were geographically
    dispersed at a low cost per exposure, the company would likely choose which of the
    following promotion forms?
        · Answer: A. Advertising
28. Using a successful brand name to introduce additional items in a given product
    category under the same brand name (such as new flavors, forms, colors, added
    ingredients, or package sizes) is called a(n):
        · Answer: A. Line extension
29. Successful service companies focus their attention on both their customers and their
    employees. They understand, which links service firm profits with employee and
    customer satisfaction.
        · Answer: B. Service-profit chains
30. [Blank] is quoted as saying that "everyone lives by selling something."
        · Answer: B. Robert Louis Stevenson
31. Anything that can be offered to a market for attention, acquisition, use, or consumption
    that might satisfy a want or need is called a(n):
        · Answer: C. Product
32. The type of sales presentation approach that requires good listening and
    problem-solving skills is the:
        · Answer: C. Need-satisfaction approach
33. Yahoo, Info seek, and Excite are all called:
        · Answer: C. Search engines
34. Successful [blank] depends on how well a company blends its people, organizational
    structure, decision and reward systems, and company culture into a cohesive program
    that supports its strategies.
        · Answer: D. Marketing implementation
35. Wal-Mart owned Sam's Club is an example of a retail form called a(n):
        · Answer: D. Warehouse club
   HOLISTIC INSTITUTIONAL ASSESMENT Page 24
36. [Blank] is the general term for a buying and selling process that is supported by
    electronic means.
         · Answer: D. Electronic commerce
37. When a company enters a new product category for which its current brand names are
    not appropriate, it will likely follow which of the following brand strategies?
         · Answer: D. New brands
38. [Blank] consists of dividing a market into distinct groups of buyers on the basis of
    needs, characteristics, or behavior who might require separate products or marketing
    mixes.
         · Answer: B. Market segmentation
39. [Blank] are ads that appear while subscribers are surfing online services or Web sites,
    including banners, pop-up windows, "tickers," and "roadblocks."
         · Answer: B. Online ads
40. In terms of special product life cycles, a [blank] is a basic and distinctive mode of
    expression.
         · Answer: B. Style
41. [Blank] is a principle of enlightened marketing that requires that a company seek real
    product and marketing improvements.
         · Answer: C. Value marketing
42. Many U.S. firms have sought relief from foreign competition by demanding
    protectionism policies by the U.S. government. A better way for companies to compete
    is to expand into foreign markets and:
         · Answer: C. continuously improves their products at home.
43. [Blank] is the process of evaluating each market segment's attractiveness and selecting
    one or more segments to enter.
         · Answer: C. Market targeting
44. It is a fact that there are 24 million left-handed people in the United States; however,
    most marketers do not attempt to appeal to or design products for this group because
    there is little in the way of census data about this group. Therefore, this group fails in
    one of the requirements for effective segmentation. Which of the following is most
    likely to apply in this case?
         · Answer: D. Measurable
45. The fact that services are sold, produced, and consumed at the same time refers to
    which of the following service characteristics?
         · Answer: B. Inseparability
46. [Blank] factors are the most popular bases for segmenting customer groups.
         · Answer: B. Demographic
47. A manufacturer has four sponsorship options. A [blank] is a brand created and owned
    by a reseller of a product or service.
         · Answer: C. Private brand
48. When Michael Jordan and Tiger Woods use marketing to promote their careers and
    improve their impact and incomes, they are using:
         · Answer: D. Person marketing
   HOLISTIC INSTITUTIONAL ASSESMENT Page 25
49. 3M runs a Pollution Prevention Pays program that has led to a substantial reduction in
    pollution and costs. This would be an example of responding to which of the following?
         · Answer: B. The "green movement."
50. When an international seller sells a plant, equipment, or technology to another country
    and agrees to take payment in the resulting products, it is called:
         · Answer: B. Buy-back
51. The stage is the product life cycle that focuses on expanding the market and creating
    product awareness and trial is the:
         · Answer: C. Growth stage
52. Which of the following promotional budget methods wrongly views sales as the cause
    of promotion rather than as the result?
         · Answer: B. Percentage-of-Sales method
53. If the field sales force has been supplied with new leads (via the telephone) that have
    been qualified, they have probably been assisted by:
         · Answer: D. Telemarketers
54. [Blank] is setting the price steps between various products in a product line based on
    cost differences between the products, customer evaluations of different features, and
    competitors' prices.
         · Answer: C. Product line pricing
55. Rolls Royce uses which of the following distribution formats?
         · Answer: B. Exclusive distribution
56. Drop shippers perform which of the following functions?
         · Answer: A. Assumes title and ships coal, lumber, or heavy equipment to a buyer.
57. A set of interdependent organizations involved in the process of making a product or
    service available for use or consumption by the consumer or business user is called
    a(n):
         · Answer: C. Distribution channel
58. [Blank] beliefs and values are open to some degree of change.
         · Answer: D. Secondary
59. According to Engel's law, as income rises:
         · Answer: C. The percentage spent on other categories increases.
60. The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate:
         · Answer: C. Unfair and deceptive acts or practices.
61. In evaluating messages for advertising, telling how the product is better than the
    competing brands aims at making the ad:
         · Answer: A. Meaningful.
62. When an importing country sets limits on the amount of goods it will accept in certain
    product categories it is called a(n):
         · Answer: A. Quota.
63. According to the price/quality strategy matrix, when a company overprices its product
    in relation to its quality it is considered to be using which type of strategy?
         · Answer: D. Snob strategy.
64. [Blank] is the practice of adopting policies and developing strategies that both sustain
   HOLISTIC INSTITUTIONAL ASSESMENT Page 26
    the environment and produce profits for the company.
         · Answer: B. Environmental sustainability.
65. It is an arrangement between two or more than two shipping lines to provide regular
    service on certain trade routes at uniform freight rates and common business terms:
         · Answer: B. Conference lines.
66. ______ is a large gantry crane used to load and unload containers onto trucks or railway
    wagons or to store the containers on top of each other in stacks in a container yard.
         · Answer: A. Transtainer.
67. ______ is a merchant ship specially designed to transport unpackaged bulk cargo such
    as grain, coal, ore, steel coils, and cement in its cargo holds.
         · Answer: D. Bulk carrier.
68. ______ include vehicle ferries and cargo ships carrying truck trailers or cars:
         · Answer: A. Roll on/roll off.
69. _____ is a kind of transportation system which is ideal for transporting large volumes of
    goods over long distances:
         · Answer: D. Rail freight.
70. ____is the process of securing goods for safe journey to the destination country
    (produced within one boundary and sold beyond it):
         · Answer: C. Packing.
71. ____means a descriptive name, identification number, instructions, cautions, weight,
    specification, or combinations thereof, required on the outer packaging of hazardous
    materials or dangerous goods.
         · Answer: D. Marking.
72. ______means the proper placement of dangerous goods on board a ship to ensure
    safety and environmental protection during transport.
         · Answer: A. Stowage.
73. Identifying and eliminating all unnecessary items
         · Answer: B. Sorting.
74. Arranging necessary items in good order and easy access
         · Answer: C. Systematizing.
75. Cleaning the workplace thoroughly
         · Answer: A. Sweeping.
76. Maintaining high standards of housekeeping and workplace organization at all times
         · Answer: D. Standardizing.
77. Creating a culture wherein all members practice the other 5s
         · Answer: A. Sustaining/self-discipline.
78. One of the following will not be the benefit of 5s implementation.
         · Answer: C. Customer complaints are increased.
79. Which of the following is an idea, a service, or any combination that is an element of
    exchange to satisfy individual or business objectives?
         · Answer: B. Product.
80. One is different from others.
         · Answer: D. Installation.
   HOLISTIC INSTITUTIONAL ASSESMENT Page 27
       1. **Answer: D. Internal databases**
         Justification: Internal databases typically consist of information collected and stored
by the organization itself, such as sales records, customer interactions, and inventory data.
Accessing this information is usually quicker and cheaper compared to other sources like
marketing intelligence, marketing research, or customer profiles, which may require external
data collection or analysis.
       2. **Answer: D. It can dilute the brand's overall image.**
          Justification: Local marketing typically involves tailoring marketing efforts to specific
localities or regions. While it may pose challenges such as logistical issues and increased
costs, it generally strengthens the brand's connection to local communities rather than diluting
its overall image.
       3. **Answer: D. Post purchase behavior**
         Justification: Cognitive dissonance refers to the discomfort experienced by a
consumer after making a purchase decision, especially for expensive or important items. It
occurs in the post-purchase behavior stage as the buyer reflects on whether the purchase
decision was the right one.
       4. **Answer: A. Innovative marketing**
         Justification: The principle described aligns closely with innovative marketing, which
emphasizes finding new and better ways to serve customer needs. It highlights the importance
of continuous improvement and adaptation to remain competitive in the market.
       5. **Answer: D. Direct investment**
         Justification: Direct investment involves the highest level of involvement in a foreign
market, as it entails establishing operations or acquiring assets in the foreign market. This can
include setting up subsidiaries, factories, or distribution networks.
HOLISTIC INSTITUTIONAL ASSESMENT Page 28
       6. **Answer: D. Premium**
         Justification: A premium is a good offered either free or at a low cost as an incentive
to buy a product. It adds value to the purchase and encourages consumers to make a buying
decision.
       7. **Answer: B. Pre-approach**
          Justification: Setting call objectives typically occurs during the pre-approach stage of
the selling process. This stage involves preparing for the sales call by researching the prospect,
setting objectives, and planning the approach strategy.
       8. **Answer: D. Survival**
          Justification: Pricing to cover variable costs and some fixed costs, even if it means
selling below total costs, is a strategy employed by companies aiming for survival. It helps
them generate enough revenue to cover essential expenses and stay operational during
challenging times.
       9. **Answer: B. Work-load approach**
         Justification: The work-load approach involves grouping accounts into different size
classes and determining the number of salespeople needed to call on them the desired number
of times. It focuses on distributing the sales force efficiently based on the workload of different
accounts.
       10. **Answer: C. Industrial products**
          Justification: Industrial products are bought by individuals and organizations for
further processing or use in conducting business operations. They include raw materials,
components, and supplies used in manufacturing or business activities.
       11. **Answer: B. Occupation**
            Justification: Psychographic segmentation involves dividing markets based on
lifestyle, values, attitudes, and personality traits. Occupation is typically considered a
demographic factor rather than a psychographic one.
       12. **Answer: C. Opinion leader**
          Justification: An opinion leader is a person within a reference group who, due to
special skills, knowledge, personality, or other characteristics, exerts influence on others'
HOLISTIC INSTITUTIONAL ASSESMENT Page 29
opinions and behaviors.
       13. **Answer: D. Learning**
          Justification: Learning refers to changes in an individual's behavior arising from
experience. It involves acquiring new knowledge, skills, or responses through experience, which
can influence future behavior.
       14. **Answer: D. Too much political power**
         Justification: Concerns about manufacturers of harmful products influencing
lawmakers to the detriment of public interest relate to the criticism of marketing having too
much political power. It reflects worries about the undue influence of corporations on
government policy-making processes.
       15. **Answer: D. the Defense Department**
          Justification: The Internet evolved from a network created by the Defense Department
during the 1960s, known as ARPANET. It was initially developed for military purposes but later
expanded into a global network for communication and information exchange.
       16. **Answer: A. Slice of life**
          Justification: Slice of life advertising portrays scenes from everyday life, often
featuring characters using the advertised product in a realistic context, such as a family
enjoying a meal together.
       17. **Answer: D. Collectivism**
          Justification: Collectivism, which emphasizes the importance of the group over the
individual, is not typically a value promoted in the United States. American culture generally
values individualism, achievement, and personal success.
       18. **Answer: C. Manufacturer's agents**
          Justification: Manufacturer's agents have contractual authority to sell a
manufacturer's entire output. They act as intermediaries who represent the manufacturer in
selling products to customers.
       19. **Answer: A. Direct exporting**
HOLISTIC INSTITUTIONAL ASSESMENT Page 30
        Justification: Direct exporting refers to the process in which a company handles its
own exports, selling products directly to customers in foreign markets without intermediaries or
middlemen.
       20. **Answer: B. Competitive predatory pricing performance**
        Justification: Competitive predatory pricing performance is not typically used as a
measure for evaluating and compensating salespeople. Instead, salespeople are often
assessed based on factors like long-term customer satisfaction, retention rates, and full
customer service.
       21. **Answer: A. Deceptive promotion**
         Justification: Deceptive promotion involves misleading or false advertising practices,
such as overstating product features, running rigged contests, or bait-and-switch tactics.
       22. **Answer: C. Occasion segmentation**
         Justification: Occasion segmentation involves dividing the market based on when
consumers purchase or use a product. In this case, the orange juice manufacturers would focus
on changing consumer behavior regarding the occasions when orange juice is consumed.
       23. **Answer: A. Self-service retailing**
         Justification: Self-service retailing is the typical method of retail operation used by
supermarkets and catalog showrooms. Customers select and purchase products themselves
without assistance from sales personnel.
       24. **Answer: D. Internal databases**
         Justification: Internal databases are computerized collections of information
obtained from data sources within the company. They serve as valuable repositories of
customer data, sales records, and other internal information.
       25. **Answer: B. Depth**
         Justification: The depth of the product mix refers to the total number of items within
the product lines. It indicates the variety of products offered within each product line.
       26. **Answer: D. Product line pricing**
HOLISTIC INSTITUTIONAL ASSESMENT Page 31
          Justification: Product line pricing involves setting price points for different products
within a product line based on cost differences, customer perceptions, and competitors' prices.
       27. **Answer: A. Advertising**
        Justification: Advertising is a promotion form suitable for reaching masses of
geographically dispersed buyers at a low cost per exposure. It allows companies to
communicate their messages to a broad audience through various media channels.
       28. **Answer: A. Line extension**
         Justification: Line extension refers to using a successful brand name to introduce
additional items in a given product category under the same brand name. It involves adding
new flavors, forms, colors, or package sizes to an existing product line.
       29. **Answer: B. Service-profit chains**
        Justification: Service-profit chains represent the link between employee satisfaction,
customer satisfaction, and company profitability. Successful service companies focus on both
customer and employee satisfaction to achieve long-term profitability.
       30. **Answer: B. Robert Louis Stevenson**
         Justification: The quote "everyone lives by selling something
      " is attributed to Robert Louis Stevenson, emphasizing the universal aspect of sales and
persuasion in everyday life.
       31. **Answer: C. Product**
          Justification: A product is anything that can be offered to a market for attention,
acquisition, use, or consumption, satisfying a want or need. It encompasses tangible goods,
services, experiences, events, persons, places, properties, organizations, information, and
ideas.
       32. **Answer: C. Need-satisfaction approach**
          Justification: The need-satisfaction approach to sales presentation focuses on
identifying and addressing the customer's needs and problems. It requires active listening,
problem-solving skills, and a customer-centric approach.
HOLISTIC INSTITUTIONAL ASSESMENT Page 32
       33. **Answer: C. Search engines**
          Justification: Yahoo, Infoseek, and Excite are examples of search engines, which are
online tools used to search for information on the internet. They help users find relevant
websites, pages, or documents based on specific keywords or queries.
       34. **Answer: D. Marketing implementation**
           Justification: Successful marketing implementation depends on effectively blending
people, organizational structure, decision systems, and company culture into a cohesive
program that supports marketing strategies. It involves executing marketing plans and
initiatives to achieve strategic objectives.
       35. **Answer: D. Warehouse club**
         Justification: Sam's Club, owned by Walmart, is an example of a warehouse club retail
format. Warehouse clubs offer bulk quantities of products to members at discounted prices in
large warehouse-like facilities.
       36. **Answer: D. Electronic commerce**
          Justification: Electronic commerce refers to the buying and selling of goods and
services, or the transmitting of funds or data, over an electronic network, primarily the internet.
It encompasses a wide range of online transactions and activities.
       37. **Answer: D. New brands**
          Justification: When a company enters a new product category for which its current
brand names are not appropriate, it may choose to introduce new brands rather than extending
existing brands. This strategy helps differentiate products and target new market segments
effectively.
       38. **Answer: B. Market segmentation**
          Justification: Market segmentation involves dividing a market into distinct groups of
buyers based on their needs, characteristics, behaviors, or other factors. It helps companies
identify and target specific customer segments with tailored marketing strategies.
       39. **Answer: B. Online ads**
HOLISTIC INSTITUTIONAL ASSESMENT Page 33
          Justification: Online ads refer to advertisements that appear while subscribers are
surfing online services or websites, including banners, pop-up windows, tickers, and
roadblocks. They are designed to attract attention and drive traffic to a specific website or
landing page.
       40. **Answer: B. Style**
          Justification: Style refers to a basic and distinctive mode of expression in terms of
special product life cycles. It encompasses the aesthetic or design elements that distinguish a
product or brand from others in the market.
       41. **Answer: C. Value marketing**
          Justification: Value marketing is a principle of enlightened marketing that requires
companies to seek real product and marketing improvements. It emphasizes delivering
superior value to customers through continuous improvement and innovation.
       42. **Answer: C. Continuously improve their products at home**
          Justification: Instead of seeking protectionist policies, companies can compete more
effectively in foreign markets by expanding into those markets and continuously improving their
products at home. This approach focuses on enhancing competitiveness and meeting
customer needs globally.
       43. **Answer: C. Market targeting**
          Justification: Market targeting involves evaluating each market segment's
attractiveness and selecting one or more segments to enter. It requires assessing segment
size, growth potential, competitive intensity, and compatibility with the company's objectives
and resources.
       44. **Answer: D. Measurable**
          Justification: Effective segmentation criteria should be measurable, meaning that the
size and purchasing power of the segment can be quantified and evaluated. This allows
companies to assess the segment's viability and potential profitability accurately.
       45. **Answer: B. Inseparability**
        Justification: Inseparability refers to the characteristic of services being produced
and consumed simultaneously. It means that services are typically created and consumed at
HOLISTIC INSTITUTIONAL ASSESMENT Page 34
the same time, often involving direct interaction between the service provider and the customer.
       46. **Answer: B. Demographic**
          Justification: Demographic factors, such as age, gender, income, education, and
occupation, are popular bases for segmenting customer groups. They provide readily
identifiable and measurable characteristics for dividing markets.
       47. **Answer: C. Private brand**
           Justification: A private brand, also known as a store brand or private label, is a brand
created and owned by a reseller of a product or service. It is typically sold exclusively by the
retailer under its own brand name.
       48. **Answer: D. Person marketing**
          Justification: Person marketing involves promoting individuals, such as celebrities or
public figures, to enhance their public image and reputation. Examples include athletes,
entertainers, and professionals who use marketing to promote their careers and personal
brands.
       49. **Answer: B. The "green movement"**
          Justification: Responding to pollution concerns and adopting environmentally friendly
practices aligns with the goals of the "green movement," which advocates for environmental
conservation and sustainability.
       50. **Answer: C. Counter purchase**
         Justification: Counter purchase involves an international seller selling goods,
equipment, or technology to another country and agreeing to take payment in the resulting
products. It is a form of international trade arrangement often used when conventional payment
methods are impractical.
       51. **Answer: B. Introduction stage**
         Justification: The introduction stage of the product life cycle focuses on expanding
the market and creating product awareness and trial. It involves launching the product, building
brand awareness, and encouraging initial adoption among consumers.
HOLISTIC INSTITUTIONAL ASSESMENT Page 35
       52. **Answer: B. Percentage-of-Sales method**
          Justification: The percentage-of-sales method for promotional budgeting wrongly
views sales as the cause of promotion rather than as the result. It sets the promotional budget
as a fixed percentage of past or projected sales, without considering the actual goals or
objectives of the promotional campaign.
       53. **Answer: D. Telemarketers**
          Justification: Telemarketers are individuals or teams responsible for making sales
calls or generating leads via telephone. They assist the field sales force by qualifying leads and
setting appointments for sales presentations.
       54. **Answer: C. Product line pricing**
           Justification: Product line pricing involves setting price steps between various
products in a product line based on cost differences, customer evaluations, and competitors'
prices. It helps companies capture value from different customer segments and maximize
profitability.
       55. **Answer: B. Exclusive distribution**
         Justification: Rolls-Royce typically uses exclusive distribution, which involves limiting
the number of intermediaries or retailers authorized to sell its products. This strategy helps
maintain brand exclusivity and control over the distribution channel.
       56. **Answer: A. Assumes title and ships coal, lumber, or heavy equipment to a buyer**
           Justification: Drop shippers are intermediaries who take title of the goods but do not
physically handle, stock, or deliver them. Instead, they arrange for the shipment of goods
directly from the manufacturer or supplier to the buyer.
       57. **Answer: C. Distribution channel**
          Justification: A distribution channel, also known as a marketing channel, is a set of
interdependent organizations involved in the process of making a product or service available
for use or consumption by the consumer or business user.
       58. **Answer: D. Secondary**
         Justification: Beliefs and values that are open to some degree of change are
considered
HOLISTIC INSTITUTIONAL ASSESMENT Page 36
        secondary in nature. They may be influenced by various factors, such as social
interactions, experiences, and exposure to new information.
       59. **Answer: C. The percentage spent on other categories increases**
          Justification: According to Engel's law, as income rises, the percentage spent on
necessities like food and housing decreases, while the percentage spent on other categories,
such as leisure, luxury goods, and investments, increases.
       60. **Answer: C. Unfair and deceptive acts or practices**
          Justification: The Wheeler-Lea Act empowers the Federal Trade Commission to
regulate unfair and deceptive acts or practices in interstate commerce. It aims to protect
consumers from deceptive advertising and marketing practices.
       61. **Answer: B. Distinctive**
          Justification: Advertising messages that emphasize how a product is better than
competing brands aim to make the ad distinctive. This approach highlights unique selling
propositions or competitive advantages to capture consumer attention and differentiate the
brand.
       62. **Answer: A. Quota**
          Justification: A quota is a trade barrier that sets limits on the quantity or value of
specific goods that can be imported or exported within a given period. It aims to restrict the
volume of foreign goods entering a domestic market.
       63. **Answer: D. Snob strategy**
          Justification: According to the price/quality strategy matrix, when a company
overprices its product relative to its quality, it is considered to be using a snob strategy. This
approach targets affluent or status-conscious consumers who are willing to pay a premium for
exclusivity or perceived luxury.
       64. **Answer: B. Environmental sustainability**
         Justification: Environmental sustainability involves adopting policies and strategies
that support both environmental conservation and business profitability. It focuses on
minimizing environmental impact while meeting the needs of current and future generations.
HOLISTIC INSTITUTIONAL ASSESMENT Page 37
        65. **Answer: B. Conference lines**
           Justification: Conference lines refer to an arrangement between two or more shipping
lines to provide regular service on certain trade routes at uniform freight rates and common
business terms. This collaboration helps ensure consistent and reliable shipping services.
        66. **Answer: A. Transtainer**
          Justification: A transtainer is a large gantry crane used to load and unload containers
onto trucks, railway wagons, or to store containers in stacks in a container yard. It plays a
crucial role in container handling and logistics operations.
        67. **Answer: D. Bulk carrier**
        Justification: A bulk carrier is a merchant ship specially designed to transport
unpackaged bulk cargo, such as grain, coal, ore, steel coils, and cement, in its cargo holds. It is
commonly used for transporting large quantities of raw materials or commodities.
        68. **Answer: A. Roll on/roll off**
          Justification: Roll on/roll off (Ro-Ro) ships include vehicle ferries and cargo ships that
carry trucks, trailers, or cars. They are designed with ramps or platforms for easy loading and
unloading of wheeled cargo.
        69. **Answer: D. Rail freight**
          Justification: Rail freight refers to the transportation of goods by rail, utilizing trains to
move large volumes of cargo over long distances. It is an efficient mode of transportation for
bulky or heavy goods over land.
        70. **Answer: C. Packing**
          Justification: Packing involves securing goods for safe transport to the destination
country. It includes activities such as packaging, labeling, and preparing goods for shipment,
ensuring they arrive intact and undamaged.
        71. **Answer: D. Marking**
         Justification: Marking refers to descriptive information, such as a name, identification
number, instructions, cautions, weight, or specifications, required on the outer packaging of
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hazardous materials or dangerous goods. It helps ensure safe handling and transportation.
       72. **Answer: A. Stowage**
          Justification: Stowage involves the proper placement of dangerous goods on board a
ship to ensure safety and environmental protection during transport. It includes securing and
arranging cargo in designated areas to prevent shifting or damage.
       73. **Answer: B. Sorting**
          Justification: Sorting is the first step in the 5S methodology, involving identifying and
eliminating all unnecessary items from the workplace. It helps create a clutter-free and
organized environment conducive to efficiency and productivity.
       74. **Answer: C. Systematizing**
          Justification: Systematizing in the 5S methodology involves arranging necessary
items in good order and easy access. It ensures that tools, materials, and equipment are
systematically organized for efficient workflow and operations.
       75. **Answer: A. Sweeping**
         Justification: Sweeping in the 5S methodology involves cleaning the workplace
thoroughly to remove dirt, debris, and hazards. It helps maintain a clean and safe environment
for employees and supports overall workplace hygiene.
       76. **Answer: D. Sustaining**
          Justification: Sustaining, also known as self-discipline, in the 5S methodology
involves maintaining high standards of housekeeping and workplace organization at all times. It
requires ongoing commitment and adherence to 5S principles by all members of the
organization.
       77. **Answer: A. Sustaining/self-discipline**
         Justification: Sustaining or self-discipline in the 5S methodology involves creating a
culture where all members practice the other 5S principles consistently. It fosters a mindset of
continuous improvement and accountability for maintaining a clean and organized workplace.
       78. **Answer: C. Customer complaints are increased**
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         Justification: Implementing the 5S methodology typically results in benefits such as a
cleaner and better workplace, improved space usage, increased safety, and enhanced
operational efficiency. It is unlikely to lead to an increase in customer complaints, as it focuses
on improving quality and customer satisfaction.
       79. **Answer: B. Product**
          Justification: In the context of marketing, a product refers to an idea, a service, or any
combination thereof that can be offered to a market to satisfy a want or need. It encompasses
tangible goods, intangible services, and experiences.
       80. **Answer: D. Installation**
          Justification: Installation is different from the other options because it refers to a
specific type of product category rather than a classification based on consumer buying
behavior. Installation products require assembly or setup and are typically purchased for
long-term use, such as appliances or equipment installed in homes or businesses."
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