S/N QUESTION OPTION A

Production is ___________ Creation of Utility

1

Capital is ____________ Creation of Utility

2
3 Entrepreneur is _________________ fixed in Supply

Land is describes as ____________ variable factor

4
5 Money is __________ capital fixed
6 Cash at hand is a Fixed Asset
The inner drive or urge towards actualization of organizational
aims and objectives is Production
7
8 Hierarchy of Needs theory is propounded by V- Room
9 Theory Xand Y is propounded by ____________ V- Room
10 Charting system is from ___________ V- Room
The art of getting things done through other people's effort is
known as_________________ Team Work
11
12 Anticipatory decision making is a definition of what?___ Motivation
13 The father of 14 principles of management is ____ Mc Gregor
getting the employees do what the leader wants them to do is Leading
14 __________
15 Who condensed Maslow’s five level of needs into just three catego Maslow's son

Who is the originator of Expectancy theory? Abraham Maslow

16

The propounder of Equity theory is Abraham Maslow

17
18 ______________is the value or performance an individual perceives on a Expectancy
____________is the strength of belief that a particular act will be
19 followed by particular outcomes. Expectancy
______________is a function of (Expectancy1)x (Expectancy 11)
20 x Valence Motivation
The selling of products directly to the consumers by the producer Damages of
21 is a deliberate act to eliminate...... products

__________ is a market where goods are bought and sold

22 Money market
__________ is a market where factor of production are bought
23 and sold Money market
The following are considered as principles of purchasing with the
24 exception of: Right Quality
 The principles and methods of buying are the following with the
exception of: Purchasing by
25 requirement

____________ is about getting knowledge about the target

market, developing appropriate marketing mix using various
global tools adapting them to influence targeted customer
perception and their buying behaviour towards a product or brand Consumer
26 Behaviour
The following are considered as marketing communication mix
27 with the exception of: Advertising

----------------- include techniques that encourage customer to

purchase while browsing product source and service displays
28 Packaging

When the cost of an event, broadcast or publication is paid for in

part or in whole by another individual or organisation with a view
to promoting commercial interest. This is considered as:
29 Promotion
_____________ is done to protect and contain an important part
30 of a product. Communication
A ______ may carry the label: Fragile, Handle with care, Keep
31 out of reach of children, for external use only, etc Brand Name

In addition to
selling, the role
Personal selling is include customer
care, key account
management;
relationship
management even
32 telephone

In addition to
Sales Promotion can be defined as: selling, the role
include customer
care, key account
management;
relationship
management even
33 telephone
 In addition to
Publicity is: selling, the role
include customer
care, key account
management;
relationship
management even
34 telephone

In addition to
Direct Marketing involves: selling, the role
include customer
care, key account
management;
relationship
management even
35 telephone
When people are given different samples of products to taste and
are asked to express their feelings about the product this is known
36 as.................. Consumer Panel

The acronym “A I D A” in advertising stands for Action, Interest,

37 Desire, Awareness

When searching and processing of information about a product is

done through advertisement this is refer to as ________ search
38 Internal Memory
_____________ is used to request the purchase department to
39 procure materials, spare parts etc Tender Form
When manufacturer sells directly to the final consumer, this is A zero level
40 known as channel
A channel level that consist of intermediary such as Whosellers, A zero level
41 Jobber, and Retailer is known as channel

Direct marketing channel includes the following expect Door to door

42 vendor
A product can be anything that can be offered in a market to
43 satisfy a want or need that can be marketed, which include: Events
A product can be anything that can be offered in a market to
44 satisfy a want or need that can be marketed, which include: Organisation

_________ is all about knowing your audience and knowing what

they want and what you want to make them believe they want
45 Selling
 Which of the following is not a marketing strategies and Market
46 tactics ................... Aggregation
Which of these is not an internal source of finance to a marketer
47 ____? Retention of profits

An arrangement whereby one company allows another company

to use its brand name, trade mark, technology, patent right or
another Asset in exchange for Royalty is referred to as ..........
48 licensing
When an Enterprise wishes to increase output faster, and at a Economic scale of
49 lower cost this is known as............. production
Those forces that are largely or totally outside the control of the
50 marketer is known as................. Internal forces

The main objective of any organisation is to.................

51 Maximize profit
A product can be anything that can be offered in a market to
52 satisfy a want or need that can be marketed, which include: Physical Goods
The type of licensing arrangement in which a Company sells a
package containing a trade mark, equipment, materials and
53 managerial guidelines is called........................ licensing
............................. is required for working capital to meet daily
54 expenses of the firm? Long term finance
............................is the way by which a company get its products
55 to the point of purchase by the final consumer, Promotion
The act of using incentives to stimulate consumers towards an
unplanned purchased and to increase the quantity of purchase is
56 called ………... Advertisement
The principal task of business in a democratic setting is to provide
57 for consumers Wants and Needs
The business growth strategy which entails the selling of present
58 products in a new market is called................... Market penetration
The management philosophy/orientation that assumes that
consumers will favour those products that offers the most quality Marketing
59 for the prices paid is known as..........., Philosophy
The business environment trend that creates the condition and
potential for a company to make greater profits and achieve its
60 objectives is called.......................... Marketing
61 Marketing research techniques includes the following except Consumer panels
The marketing strategy whereby a company deletes from its range
of products all those that are considered weak and unprofitable is Product
62 called ………….. Development
63 ……….. is value expressed in term of naira and kobo Demand
-------------------------is an essential force in deciding either to buy
64 a product or not Need

The type of market where one seller sells to many buyers is?
65 Oligopoly
 When the marketing activities are concentrated in doing one thing
66 and doing it well, we said the strategies is…. Product strategy
……….. is a concept of charging low price when a product is first
lunched with the intention to gaining rapid acceptance of the
67 product, Luncheon Market
Firms that have little or no influence over the prices of their
68 products or services are describe as Price Taker
A ---------- is an estimate of expected sales for over a particular
69 planning period Budget
70 The first challenge for the marketing is to find the set of Marketers
………… involves charging high prices when a product is first
lunched in an attempt to exploit those section of the market that
71 are relatively insensitive to price changes Price Penetration
72 …………. is the ratio of function to cost Product
73 ----------------- is the full and legal name of an organization Trade mark
-------------- refers to goods and services not required directly in
74 their sake Money
75 _____ are used for further production Consumer goods
76 _______ capital are those that do not varied with production Fixed capital

_______ capital are those that varied with leve of production

77 Fixed capital
78 Personal selling include the following expect Trade

___________ is concerned with the activities of transferring

goods from the producer to the final buyers and users?
79 Production
__________ is the process through which marketers are able to
send meaningful information from their end to target
80 customer/market? Selling process
81 A ------------is one who is engaged in an exchange of value? Money changer
Marketing depend on two major things. They are Needs and
82 ________and__________ satisfaction

A _ ______is bundle of utilities which satisfy the customer needs

83 Value
A ___________consist of all the potential customers willing and
84 able to engage in exchange to satisfy their need? Demand
The concept of marketing that believes that customers will prefer
product which have better quality and performance is known as
85 _______________? Exchange Concept
86 Man made resources include the following except; _______ Labour
87 ____________ is truly the mother of resources? Power
88 which of the following isa charateristic of rsource Static
___________is use to protect the product from danger between
89 producer and consumer? Branding
 The essence of production is incomplete until ___________
90 Money is provided
91 Price is a marketing mix that produces____ Selling
According to Maslow once safety need is reasonably satisfied the
92 next line of need is ______________? Safety needs
the process of creating room for product identification by a firm is
93 known as_____________ Trade Mark
Establishing a long term mutually rewarding relationship between
the customers and suppliers in order to retain their long term Mutually
94 preference in business is __________ Marketing

The concept of market leads to ____________

95 Buying and selling

The means of passing information from one person to another is

96 Marketing
97 Which of the following focuses on the product alone? Marketing
When our focus is on the customers’ needs. We are engage in
98 _____ Marketing
Which one of the following believes in pushing product to the
99 customers. Marketing
___________ believes in creating a pull or demand for the
100 product through better value to the customer. Marketing
101 _______________ emphasizes on exchange value Marketing
______________ views customers as the very purpose of
102 business? Marketing
All activities relating to physical distribution and distribution
103 channels is known as __________ strategy? price Strategy
________________ form the fundamental basis for competition
104 and for business success? Price

Which of the following is not a step in buying decision process? Problem

105 recognition
Buying motives can be categorized into two namely, _______ and Rational and
106 _________ ? Emotional
107 The price of labour is _________ ? Interest
108 __________ is the reward for capital? Interest

Technology simply means?

109 Advance Economy
110 One of the following is not a promotional activity? Personal selling

______________ informal, ad hoc activities which include write-

up in the press in term of news, item about the product, the firm
or its employees is known as ______________ ?
111 Personal selling
Those variables that are brought together to influence customer to Promotional
112 react favorable to a firm product are called? strategy
 ___________ is the reason for action directed towards a desirable
113 goles need

The type of segmentation where firm directs its marketing effort

at two or more segment by developing a marketing mix for each
selected segment is _____________________ ?
114 Atomizing
____________ means when an organization directs its marketing
115 effort toward a single marketing? segmentation Atomizing
When we have a product in different market. It is called
116 ____________________? Segmentation
Basically there are three possible outcomes after brand evaluation. Intention to
117 Which of the following is not included? purchase
A method whereby markets are segmented on the basis of
consumer’s different profiles such as personality characteristics,
118 lifestyle is known as -------------------? Demographic

Marketing segmentation is necessary in order to determine

Consumer
119 purchasing power

The most basic requirements for effective marketing segmentation Identification,

are Accessibility, and
120 Homogenous,
______________ is the observable action and reaction of the
marketing mix, his person, his society and other influencing
121 stimuli. Market research
The various activities the company undertakes to make the
product available and accessible to the target customer is
122 called_____________ ? Promotion
The activities a company undertakes to communication or inform
the target market about a company and its products is
123 called_________________? Promotion
The branch of marketing that studies how individuals make
buying decision and satisfy their needs with goods and services Producer
124 is called____________________? Behaviour
__________________ is the last stage in the consumer decision
process and it’s also serves as an influential variable for future Problem
125 repeat purchase? recognition
Marketing segmentation is necessary in order to determine Consumer
126 __________? purchasing power
Which of the following is not requirement for effective market
127 segmentation? Identification
Which of the five concepts of marketing is concerned with the
consumer satisfaction and meeting the needs of the customer for
128 profitability? Sales concept
 The-------------- consist of those controllable variables which a
129 firms can use to influence consumer response? Buying Mix

A group of buyer which shares the same qualities that make them
distinct and have marketing significance is called ------------?
130 Marketing Mix
The number and
One of the following is not a promotion decision? location of such
131 outlets

Advertising creates all of these except?

Increases price of a
132 product
When we said that resources response to increased knowledge and
133 science. It means Functional
134 The following are the variables in marketing except: Place

Which of the following is not a characteristic of resource? Potential for

135 depletion
136 Production involves the creation of the following except: Commerce
______________ is simply wealth sets aside for the production of
137 further wealth. Entrepreneurship
______________ is the set of tool that is used to pursue the
138 marketing objectives in the target market. Marketing miss
The market that consists of organisation and individuals, buying
goods and services for individual purpose (consumption) is refers
139 to as: Capital market
A group of buyers who share the same qualities that makes the Buyer
140 distinct and have marketing significance is known as segmentation

__________ is the type of segmentation strategy believing that

each consumer is unique in respect of identified characteristics. Market
141 atomization

The following are major criteria for market segmentation except;

142 Measurability
The classification of consumer product are under the following Durable and non-
143 categories except durable

Product development are successfully identified under the Development of a

following sentence except; completely new
144 product
External sources of idea generation on product development
145 include all of the following except; Distributors
146 The father of hierarchy of needs theory is Elton mayo

The need for food is under which of these

147 Safety need
148 For utility to be created, _______ has to be done. Reproduction
The process or an act of making new product known to the public
149 is Conglomerate
 One advantage of personal selling as a means of promoting a
product is To sell the product
150 at high cost
151 A business venture owned by one person is known as Soul propriation

One of the following is an advantage of a one man business

152 High capital layout

The term "legal entity’’ in a business means ___________ .

It can sue and be
153 sued
154 Utility is a function of ___________ Marketing

Under which hierarchy of need do we find food, shelter, drink?

155 Safety needs
156 Which of the following focus on customer needs? Product

_______________ are motives prompted by reasons?

157 Emotional Motives

___________ is the performance of business activities that direct

flow of goods and services from the producer to the consumer?
158 Sellers
______________ is consumers estimate of product capability of
159 satisfy need? Utility
The process of obtaining a desired product from someone by
160 offering something in return is known as ---- Transfer
The trade of values between two or more parties is called
161 _________ Value

The quantity of labour refers to _______________ ?

162 Number of labour
___________ is the act of an individual decision to become a Product adoption/
163 regular use of product Post evaluation
______ means any paid form of non-personal presentation of
ideas, goods, and services to a main audience by an unidentified
164 sponsor. Advertising
Face to face between a company and its customers is known as
165 ___________ Physical selling
____________ involves providing customers with personal
166 assistance Missionary selling

The inner urge or drive that pushes or direct individual towards

actualization of organizational goals and objectives is
167 Money

________ is the motivation theorist who viewed the three ways of

dealing with conflict i.e. domination, compromise and integration.
168 Elton mayo
 The potential
Market share means customers for a
169 product

The following are advantages of Location and localization of

industry except: Proximity to
170 marker
171 Consumer is regarded as Queen
172 Sales minus expenses will give us Net profit
Cost of goods sold can be calculated as
173 Sales less purchase
The following are the essential factors for an entrepreneur to start
174 a small scale business except: Initiative
To utilize the factors of production effectively, the activity of the
175 enterprises must be carefully: Managed
176 ___________ is the smallest unit of an industry firm

Social responsibility enhances the following behaviour except: Social

177 responsibilities
Business card gives facts about your services and how to contact
178 you 1
179 The people a business serves are its Market
180 The goal of entrepreneurial activity is to create Wants
Feasibility study helps to ascertain whether or not a business is
181 worth undertaking 1
182 Business activities and entrepreneurship are the same 1
183 Punctuality is the sole of Market
184 Stakeholders are generally described as claimant on business 1
Entrepreneurial recognizes opportunities where other people see
185 only problem 1
------------------ is the bridge that links production with Buyer
186 consumptions
187 ------------------ is the functions of the other 3Ps Product
According to Faigel (1987) ______________ refers to a set of
Concept
188 assumptions and beliefs about a phenomenon.
Promotion =
Which of these is correct Product+ Place +
189 Price
190 A ---------- is one who patronise ouur goods and services Consumer

The ultimate user of a product or services is known as ------------- Market

191
___________ is used for obtaining price and terms from
Purchase Order
192 potential suppliers

Essential features of purchase order includes the following purchase Order

except! Number and date
193
 If Cost = #20 and profit = 5% of selling price what is selling price #21.00
194
195 If Cost = #20 and profit = 5% of selling price what is profit #1.05

__________ of the 4Ps will determined the value of the market Product
196
 OPTION B OPTION C OPTION D ANSWER

Wealth set aside for the

creation of wealth monetary Value A
production of further wealth

Wealth set aside for the

creation of wealth monetary Value D
production of further wealth

mobile regular circuulating B

Wealth set aside

free gift of nature for the production rent B
of further wealth

circulating wealth Zero B

Current asset Current Liability Long Term Capital B

Want Need Motivation D

Abraham Maslow Mc Gregor Gant B

Abraham Maslow Mc Gregor Gant C
Abraham Maslow Mc Gregor Gant D

Concept Working together management D

Planning Staffing Controlling B

Herri Fayol Elton Mayo Fredrick Taylor B

Planning Staffing management A

Herzberg Clayton Alderfer V-room C

Herzberg Adams V-room D

Herzberg Adams V-room C

Leadership Expectation Valence D

A
Leadership Expectation Valence

A
Leadership Expectation Valence

Threats Loss Middlemen D

Capital market Commodity market Factor market C

Capital market Commodity market Factor market D

Right Price Right Time Right Functions D

Purchasing by
specified matured Marketing
period purchasing All of the above D

Group Behaviour Marketing Advertising C

Publicity Public Relations Product D

Merchandising Personal Selling Sponsorship B

Branding Sponsorship Packaging C

Sponsorship Packaging Promotion C

Trade Mark Packaging Description C

The process of
marketing through
various advertising
Involves the award media that interact
of incentives to directly with Is an informal ad hoc activity
consumers, trade or consumers which include write up in the
sale force to increase generally calling press in form of news item
sale in the short for the to make about the product, the firm or
run/term direct response its employees A

The process of
marketing through
various advertising
The award of media that interact
incentives to directly with Is an informal ad hoc activity
consumers, trade or consumers which include write up in the
sale force to increase generally calling press in form of news item
sale in the short for the to make about the product, the firm or
run/term direct response its employees B
 The process of
marketing through
various advertising
Involves the award media that interact
of incentives to directly with Is an informal ad hoc activity
consumers, trade or consumers which include write up in the
sale force to increase generally calling press in form of news item
sale in the short for the to make about the product, the firm or
run/term direct response its employees D

The process of
marketing through
various advertising
Involves the award media that interact
of incentives to directly with Is an informal ad hoc activity
consumers, trade or consumers which include write up in the
sale force to increase generally calling press in form of news item
sale in the short for them to make about the product, the firm or
run/term direct response its employees C

Test Marketing Product Testing Product Sampling C

Awareness,
Action, Impulse, Impulse, Desire, Awareness, Interest, Desire,
Desire, Awareness Action Action D

Intermediate
External memory memory None of the above B
Purchase
Purchase Order Requisition Form Mail order C
A two level
A one level channel channel A three level channel A
A two level
A one level channel channel A three level channel D
Home parties
(caterer) Mail order Tender D

Places Properties All of the above D

Information Ideas All of the above D

Marketing Advertisement Publicity B

Market segmentation Product elimination Market modification. D

Sale of Assets Tax provision Trade credit. D

Merger Direct Investment Franchising A

Economic low cost
production Economics of scale Unit cost production. A
Opportunities &
External form Threats Environmental Forces D
Continue in
Satisfy customers business Mass production. C

Services Experiences All of the above D

Franchising Direct Investment Strategic alliance B

Medium term
finance Short term finance Fixed Capital C

Selling Advertisement Distribution. D

Effective
Sales promotion distribution Marketing B
Social
Wages and salary Responsibility Welfare and Accommodation A
Market
Market Research Development Product Development C

Production
Marketer Philosophy Philosophy Product Philosophy D

Opportunity Treat Weakness B

Retail Audit Test Marketing Sales Forecast D
Product
Market- Nicher Elimination Product Diversification
Strategy Strategy Strategy C
Purchase Price Market C

Demand Love Esteem A

Duopoly Monopoly Monosmoney C

 Concentration
Differential strategy strategy Atomization Strategy C

Price Penetration Money Market Price Skimming D

Price Changer Price Leader Price setters A

Marketing sales Sales forecasts Sales Promotion C

Sales Girls Consumers Promoters C

Luncheon Fund Price Skimming Money Market C

Money Prize Value D
Trade name Association name Seller's name A

Capital Producer goods Consumer goods C

Tertiary goods Promotion goods Industrial goods D
Working capital Current capital Liquid capital A

Working capital Current capital Liquid capital C

Missionary selling Technical selling Advertising D

Selling Distribution Permutation C

Market Information
communication semantics All of the above B
Stock exchange Marketing Marketer D

Needs and services Want and satisfier Needs and wants A

Product Marketing Satisfaction B

Products Market People C

Production Concept Product Concept Sales Concept C

Skill Technology Land D
Technology Knowledge Infrastructure C
Dynamics Non functional Socially decline B

Packaging Distribution Monitoring B

 There is exchange of value
Goods get to final between producer and
consumer Producer gets profit consumers D
Buying Revenue Production C

Esteem needs Social needs Self actualisation needs C

Packaging Creating Room Branding D

Rewarding Facebook
Marketing Marketing Relationship marketing D

Buying Selling Marketing D

Communication Selling Price B

Communication Selling Price C

Communication product customer A

Advertising Selling producer C

marketer Selling Price A

Communication Selling Price C

Selling Price Promotion A

Place strategy Promotion Strategy Product Strategy B

Place Promotion Product A

Information
Selling Processing Post purchase evolution. B
Product and Industrial and
Patronage Customer Emotional and Patronage B
Profit Wages Rent C
Profit Wages Rent A
Method of doing
Modern Economy things Modern Country C
Advertising Distribution Publicity C

Advertising Distribution Publicity D

Advertisement
strategy Marketing mix Uncontrollable variables C
want motive Buying Motive c

Differential Concentration Conglomerate B

Differential Concentration Conglomerate C

Differential Concentration Marketing mix A

Purchase
information No purchase Purchase B

Regional Psychographic Behaviouristic C

The buying
The person who behaviour of exist
influences the buyer ing and potential
decisions consumers All of the above D

Measurability, Cost Effectiveness

Accessibility, and Identification, and Stability, Cost Effectiveness
Substantiality, Homogenous, Identification, Measurability, B

Consumer
Market Supplier Behaviour Buying Motive C

Selling Marketing Distribution D

Selling Marketing Distribution A

Consumer
Marketer Behaviour Behaviour Marketing Environment C

Post purchase
Awareness evaluation Adoption C
Method of
distribution Promotion strategy All of the above D

Measurability Accessibility Marketing mix D

Production concept Marketing Concept Exchange concept C

Communication Mix Marketing Mix Promotion Mix C

Group Behaviour Market Segment Entrepreneurship C

The best medium to
The cost of media reach the target The best method of promoting
usage market any type of products A

Done in bad taste

and insults
Creates artificial consumers
demand intelligence Create awareness of product C

Consciousness Dynamics Destruction C

Price Production Promotion C

It serves as utility Limited availability all resources are Renewable D

Human wants Services Industry B

Production Industrial goods Capital D

Marketing
Marketing mix variable Marketing machines B

Consumer market Industrial market Product market B

Market segmentation Market formation Market identification B

Market Concentrated
segmentation marketing Marketing differentiated A

Accessibility Sustainability Functionability D

Luxury products and Perishable and non- Capital product and social
need products perishable product D
Determination of
Improvement on new uses for
existing product existing product Rejection of existing product D

Stock officer Customer Members of the public B

Mary parker Follet Maslow Abraham Mc Gregor C

Physiological needs Esteem needs Social needs B

Production Promotion Maintenance B

Marketing Promotion Advertisement D

 To make the
To harbour the product an essential To have a quick and direct
product one report on the product D
Sole proprietorship Sole proprietor Privatisation B
Sufficient human Quick and easy decision
resources Sharing of profit making D

The identity of the

business owner is It is recognise as a
different from that of person in the eyes
the business itself of the law All of the above D
Production Activities Promotion B

Physiological needs Esteem needs Social needs B

Selling Marketing Production C

Reason Motives Irrational Motive Rational Motive D

Suppliers Middlemen Marketing C

Product Value Selling C

Selling Exchange Marketing C

Needs Want Transaction D

The size of labour
force Quantity of labour Population of the country B

Product adaption Product awareness Product user A

Sales promotion Publicity Human relation A

Personal selling Product selling Potential selling B

Persuading selling Trade selling Technical selling D

Fringe benefit Motivation Capital C

Mary parker Follet Maslow Mc Gregor B

The number of The share of new
market market The division of market A

Existence of basic
Proximity to raw infrastructural
materials facilities Market share D
King Slaves Seller B
Sales returns Profit after sales Profit A

Purchase less sales Opening stock Closing stock B

Personnel Raw materials Capital B

planned determined established B

organisation company strategic business unit A
Recognition and
Government support respect Interest patronage A

0 Uncertain All of the above A

Location People Enemy A
Needs Value Projects C

0 Uncertain All of the above A

0 Uncertain All of the above B
Purchase Demand Business D
0 Uncertain All of the above A

0 Uncertain All of the above A

Marketing Purchase Management
B
Price Place Promotion B
Process Theory All of the above C

Place= Product+ Price= Product+ Product = Price+ Place +

Price + Promotion Place + Promotion Promotion
C
Customer Market Competitor B
Customer Market Consumer
D
Tender Forms Vendor Selection Purchase Records
B

term and
Address of supplier tender number
conditions
D
20.15 #21.05 #21.15
C
#1.00 #1.50 #1.25 A
Price Place Promotion
B