Unit 9

1. 1. What does TQM stand for?

• Total Quality Management

• Total Quantity Measurement
  

• Target Quality Management
  

• Technical Quality Maintenance
  

 2. ISO standards are primarily concerned with

•  Marketing strategies
  

• Quality assurance
  

• Employee management

• Financial reporting
  

3. 3. What is a common goal of quality management?
   

• Reducing product costs only
  

• Maximizing production time
  

• Ensuring customer satisfaction
  

• Avoiding employee training
  

4. 4. A continuous improvement process focuses on:
   

• One-time quality upgrades
  

• Ongoing small improvements

• Decreasing market share
  

• Eliminating customer feedback
  

5. 5. Which of the following tools is used in quality control?

• Pareto chart
  

•  Profit and loss statement
  

• 4Ps framework
  

• SWOT analysis

1. 6. The 4Ps of marketing are:
   

•  Product, Price, Promotion, Place
  

•  Product, Profit, Promotion, Place
  

• Product, Price, Profit, People

•  Product, Planning, Price, Promotion
  

7. 7. Market segmentation involves dividing the market based on:
   

• Geographic, demographic, and psychographic factors

• Revenue only
  

• Product features only

• Random customer groups
  

8. 8. What is the primary goal of marketing?
   

• Increasing employee retention
  

• Satisfying customer needs profitably

•  Reducing production costs
  

• Enhancing internal communications
  

9. 9. A company conducting market research is likely to:
   

•  Develop a new financial system
  

• Gather data on consumer preferences
  

• Hire more employees
  

• Reduce advertising spending
  

10. 10. Which term refers to a company’s unique position in the market?
    

• Branding
  

•  Market niche
  

• Promotion strategy

• Marketing mix