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WorksheetsESBM HBL Quiz
Total questions: 20
Worksheet time: 10mins
How many partners can form a partnership according to the document?
1 to 10 persons
2 to 20 persons
2 to 50 persons
No maximum limit
Which department is responsible for recruitment and selection?
Production
Marketing/Sales
Finance
Human Resource/Administration
What is the main difference between cost advantage and differentiation advantage?
Cost advantage focuses on lower prices, while differentiation advantage focuses on better benefits
Cost advantage is for services, differentiation advantage is for products
Cost advantage is temporary, differentiation advantage is permanent
There is no difference between them
Why is unlimited liability a disadvantage for sole traders?
They have to share profits with partners
They must pay higher taxes
Personal possessions may be sold to pay business debts
They cannot expand their business
A business owner wants to expand but lacks capital and wishes to avoid unlimited liability. Which business entity would be most suitable?
Sole Trader
Partnership
Limited Company
None of the above
If a company has superior product quality at a lower cost than competitors, which type(s) of competitive advantage does it have?
Cost advantage only
Differentiation advantage only
Both cost and differentiation advantage
Neither type of advantage
Which of the following is an external factor affecting marketing decisions?
Management of resources
Experienced staff
Economic environment
Unique selling point
What does CASE stand for in the context of consumer protection?
Consumer Association of Singapore Enterprises
Consumers Association of Singapore
Corporate Association for Service Excellence
Consumer Advocacy and Service Entity
Why are economic factors important in marketing decisions?
They determine the company's logo design
They affect consumer purchasing power and demand
They control government regulations
They establish the company's mission statement
How does direct competition differ from substitute products?
Direct competition sells similar products; substitutes can be used in place of another
Direct competition is always cheaper
Substitute products are illegal
There is no difference
A coffee shop wants to attract health-conscious millennials aged 25-35 with disposable income. Which factors should they prioritize in their marketing strategy?
Demographic and social/cultural factors only
Political and technological factors only
Demographic, social/cultural, and psychographic factors
Economic factors only
A company launches a premium smartphone with unique AI features at a higher price than competitors. Which marketing mix element needs the MOST emphasis?
Price (lowering it immediately)
Promotion (communicating differentiation advantages)
Place (distributing everywhere possible)
Product (removing unique features)
Which type of sales event involves taking your business vision to multiple cities?
Product Launch
Road Show
Pop-Up Event
User Conference
What is the first step in service recovery?
Thank the customer
Suggest solutions
Obtain details
Follow up
What is the difference between upselling and cross-selling?
Upselling is illegal, cross-selling is legal
Upselling encourages higher-priced variants, cross-selling suggests complementary products
Upselling is for services, cross-selling is for products
There is no difference
How does expressing P&L items as percentages of sales help in analysis?
It makes calculations more difficult
It makes it easier to see relationships between items
It is required by law
It increases profit margins
Why might a business experience cash flow problems despite showing profit on the P&L statement?
Because P&L shows timing of receipts and payments
Because P&L doesn't show when actual cash is received or paid
Because the business is making losses
Because operating costs are too low
A customer complains that a product they purchased is defective. Applying the service recovery steps, what should you do AFTER acknowledging their feelings?
Thank them and end the conversation
Explain how the problem might have happened
Immediately offer a refund without investigation
Blame the manufacturer
Which of the following best describes a competitive advantage?
Having the most employees
Being located in a prime area
Unique strengths that allow outperformance of competitors
Having the lowest operating costs
What is the main advantage of public relations over advertising?
It reaches a larger audience
It is perceived as more credible and unbiased
It costs more money
It provides immediate sales results
