Please read the followingscenario carefully and answer the questions given at the end by selecting the most appropriate option. Each question carries2 marks.
A few years back, Ayubia was only a small town with an amusementpark, a shoe store, a small restaurant, and a grocery store. Now the small townhas transformed into an international tourist attraction, attractingthousands of tourists who are inspired by the lifestyle of Ayubians.
Ali and Ahmad, having grown up within the Ayubians' faith,decided to take advantage of their town's popularity and theirwoodworking skills. Their shop "Stylish Wood" began with a small display of handmadehickory rocking chairs, Ali and Ahmad's specialty. But within a few months, the displayat Stylish Wood included picnic tables, flower boxes, and small handmade noveltyitems. No other shop offers the same. Ali and Ahmad decorated the shop's display room withauthentic Ayubians\ décor and eventually hired three Ayubians friends tosew and embroider napkins and other textiles as per customer request. Ali and Ahmed are readyto assist in every phase of the locate-compare-select process. In addition, twowomen from the Ayubians community took permission from Ali and Ahmad to displayhome-cooked traditional food items on Saturday and Sunday, thetown's busiest tourist days,when Ayubia attracted group of visitors to its flea market on thesouth edge of town. Ali and Ahmad stated, "Ayubia is full of specialty shops,people don't come here to buy things made in China or Taiwan. They want real Ayubians-made goods."
1. Stylish Wood is doing which type of business?
a. Franchising
b. Retailing
c. Brokering
d. Wholesaling
2. Which one of the following levels of service is being providedby the Stylish Wood?
a. Self-service
b. Full-service
c. Limited-service
d. Self-selection
3. Products like picnic tables, flower boxes and smallhandmade hickory rocking chairs offered by the Stylish Wood fall in which of the followingconsumer products?
a. Convenience products
b. Unsought products
c. Shopping products
d. Specialty products
4. Which of the following growth strategies is being adoptedby the Stylish Wood?
a. Market penetration
b. Market development
c. Diversification
d. Product development
5. Which of the following can be viewed by Stylish Wood whileassessing sales volume effectiveness?
a. Percentage of visitors those entering and who buy
b. Percentage of visitors who enter the shop
c. Average amount spent per sale
d. All of the given the options
6. All of the following can be the grounds on which Stylish Woodpositioned itself, EXCEPT:
a. By focusing Ayubia's tourists
b. By offering unique products not offered by other shop
c. By hiring persons having creative skills
d. By helping people to buy imported items
7. Do you think that location played a critical part in the StylishWood's success?
a. Strongly agree
b. Partially agree
c. Not agree
d. None of the given option
8. Which one of the following decisions is considered as acrucial that must be decided in relation to its target market, its product assortment,and its competition?
a. Segmentation decision
b. Price decision
c. Product decision
d. Positioning decision
9. Stylish Wood can be categorized as which of the followingstores?
a. Department store
b. Convenience store
c. Specialty store
d. Discount store
10. Stylish Wood is doing the business by which of the followingways?
a. Wholesaling
b. Personal selling
c. Retailing through catalogs
d. Retailing through store
11. Until Stylish Wood define andprofile its _____________, it cannot make consistent decisions about product assortment, services, storedécor, or any of the other decisions that must support its position.
a. Target market
b. Competitors
c. Suppliers
d. Employees
12. Stylish Wood is adopting which of the following strategies?
a. Cost leadership
b. Differentiation
c. Penetration
d. Cost leadership and focus
13. Ayubia's largest population attracted the visitorstowards its:
a. Products
b. Restaurants
c. Lifestyle
d. Grocery stores
14. Stylish Wood hired three Ayubians friends to sew and embroidernapkins and other textiles as per customer request. This statement reflectswhich of the following concepts?
a. Selling concept
b. Product concept
c. Production concept
d. Marketing concept
15. If Stylish Wood expanded beyond Ayubia, which of the following critical function will be performed?
a. Selling and promoting
b. Transportation
c. Marketing information
d. All of the given options