Related Mcqs:

1. An organization’s ability to offer market offerings at lower prices, in comparison with its competitors is known as __________?

   A. inelastic demand
   B. product differentiation
   C. cost leadership
   D. elastic demand

2. The process which leads to disassembling and analysis of competitors, operating activities to become acquainted with competitors’ technologies is called ___________?

   A. outsource engineering
   B. reverse engineering
   C. target engineering
   D. off shore engineering

3. An engineering of products or detailed planning of products or services is called ___________?

   A. product design
   B. research steps
   C. useful chain
   D. value added

4. In response to challenges arisen by competitors and new entrants, the strategy which must be considered by the company does include __________?

   A. cost leadership
   B. demand inelasticity
   C. differentiated products
   D. both A and C

5. The pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as ______________?

   A. product life cycle method
   B. life cycle budgeting method
   C. life cycle costing method
   D. time and material method

6. In value chain analysis, the delivery of services or products to end customers is classified as _____________?

   A. resource research
   B. market research
   C. utilization
   D. distribution

7. If cost is eliminated, then reducing the perceived usefulness that customers can obtain by using the market offering will come under _____________?

   A. designed-in costs
   B. locked-in costs
   C. value added cost
   D. non-value added cost

8. The kind of cost which on elimination, would not reduce the perceived usefulness that customers can obtain by using the market offering is known as ___________?

   A. designed-in costs
   B. locked-in costs
   C. value added cost
   D. non-value added cost

9. A company must eliminate all those activities that do not add value to all the products or services in planning of ___________?

   A. variable overhead cost
   B. fixed overhead cost
   C. fixed batch cost
   D. variable batch cost

10. The way an organization matches its capabilities with available opportunities to accomplish its goals is called _______?

    A. elasticity incurrence
    B. off shoring
    C. strategy
    D. engineering