Practice L4M2 Exam Online

Question 1

ABC Ltd has enormous investment in facilities and machinery. It also employs skilled workforce. To be profitable, the company has to produce at massive quantity. Which sector does ABC Ltd belong to?

A : Manufacturing

B : Retail

C : Construction

D : Agriculture

E : Finance

Answer: A

Question 2

Buyers in the same industry with the same understanding of relative value and price may still make different decisions about whether to switch. Which of the following factors may prompt a buying organization to incline toward substitute products?

1. There is potential for backward integration

2. Access to financial resources

3. The switching cost is high

4. The substitute fits organisation's strategy

A : 1 and 4 only

B : 3 and 4 only

C : 1 and 2 only

D : 2 and 4 only

E :

Answer: D

Question 3

In Kano model, which of the following types of requirement should be excluded from the product or service?

A : Reverse requirements

B : Attractive requirements

C : Must-be requirements

D : Performance requirements

Answer: B

Question 4

Which of the following are most likely to be considered when developing specifications based on information on the Internet? Select TWO that apply:

A :

Methodology

B : Subjectivity

C : Objectivity

D : Responsiveness

E : Information flow

Answer: A,C

Question 5

To strengthen its market presence, ABC Group decided to develop a new product. A cross-functional team was formed to discuss the scope and the functions of the product. They will also survey the potential customers to see what they like, what they love, and what they dislike. What is this process called?

A : Cash flow analysis

B : Product standardisation

C : Value engineering

D : Value analysis

Answer: C

Name:	Defining Business Needs
Exam Code:	L4M2
Certification:	CIPS Certification
Vendor:	CIPS
Total Questions:	152
Last Updated:	Apr 22, 2024

CIPS L4M2