Business Administration exam test
quiz and answers graded A+
Customers are not all the same and shall be divided into homogeneous groups called:
a. Families
b. Segment
c. Class
d. Sector - ANS✅✅b. Segment
A strategy designed to supply a product/service that customer perceives as being different in ways
that are not relevant to them
a. Quality
b. Advantage
c. Differentiation
d. Planning - ANS✅✅c. Differentiation
Differentiation shall not be
a. Significant
b. Distinctive
c. Superior
d. Unprofitable - ANS✅✅d. Unprofitable
What strategy shall you avoid?
a. Higher price for more benefit
b. More benefits for the same price
c. Same price for the same benefit
d. The Same benefit for a higher price - ANS✅✅d. The Same benefit for a higher price
, Your value proposition shall not:
a. Focus on what matters to the customer
b. Be easy to copy
c. Outperform the competition on at least one dimension
d. Differentiate from competition - ANS✅✅b. Be easy to copy
A unique selling proposition is:
a. what we do better than other competitors and customers want. - ANS✅✅a. what we do better
than other competitors and customers want.
What are the 4 p's:
a. Product, purpose, place, promotion
b. Product, price, persons, promotion
c. Product, price, place, promotion
d. Product, price, place, profit - ANS✅✅c. Product, price, place, promotion
What is the 15% rule at 3M:
a. 3Mspend 15% of its turnover on marketing expenses
b. 3M employees are encouraged to spend 15% of their time on developing new projects
c. 3M employees are paid 15% of the profit generated by new products
d. 15% of the product portfolio is less than 5 years old - ANS✅✅b. 3M employees are encouraged
to spend 15% of their time on developing new projects
Introduction, Growth, Maturity, and Decline define:
a. Branding process
b. Product Life cycle
c. Service business model
d. Marketing strategy - ANS✅✅b. Product Life cycle
quiz and answers graded A+
Customers are not all the same and shall be divided into homogeneous groups called:
a. Families
b. Segment
c. Class
d. Sector - ANS✅✅b. Segment
A strategy designed to supply a product/service that customer perceives as being different in ways
that are not relevant to them
a. Quality
b. Advantage
c. Differentiation
d. Planning - ANS✅✅c. Differentiation
Differentiation shall not be
a. Significant
b. Distinctive
c. Superior
d. Unprofitable - ANS✅✅d. Unprofitable
What strategy shall you avoid?
a. Higher price for more benefit
b. More benefits for the same price
c. Same price for the same benefit
d. The Same benefit for a higher price - ANS✅✅d. The Same benefit for a higher price
, Your value proposition shall not:
a. Focus on what matters to the customer
b. Be easy to copy
c. Outperform the competition on at least one dimension
d. Differentiate from competition - ANS✅✅b. Be easy to copy
A unique selling proposition is:
a. what we do better than other competitors and customers want. - ANS✅✅a. what we do better
than other competitors and customers want.
What are the 4 p's:
a. Product, purpose, place, promotion
b. Product, price, persons, promotion
c. Product, price, place, promotion
d. Product, price, place, profit - ANS✅✅c. Product, price, place, promotion
What is the 15% rule at 3M:
a. 3Mspend 15% of its turnover on marketing expenses
b. 3M employees are encouraged to spend 15% of their time on developing new projects
c. 3M employees are paid 15% of the profit generated by new products
d. 15% of the product portfolio is less than 5 years old - ANS✅✅b. 3M employees are encouraged
to spend 15% of their time on developing new projects
Introduction, Growth, Maturity, and Decline define:
a. Branding process
b. Product Life cycle
c. Service business model
d. Marketing strategy - ANS✅✅b. Product Life cycle
