Trusted Worldwide Questions & Answers
Most Recent CIPS L4M2 Exam Dumps
Prepare for the CIPS Defining Business Needs exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIPS L4M2 exam and achieve success.
The questions for L4M2 were last updated on Mar 30, 2025.
- Viewing page 1 out of 48 pages.
- Viewing questions 1-5 out of 238 questions
Which of the following agencies can produce a technical standard?
Technical standards are often produced by a national or international body such as British Standard Institute (BSI)
LO 3, AC 3.1
James Hunter has received a price increase request from a supplier with its justification. The supplier has requested the price increase because there has been an increase in staff sickness absence. James has reviewed the original contract and found a buyer provision for 'risk for additional resource.' This is the first year the supplier has experienced a resource issue. What should James do?
Given that the provision for 'risk for additional resource' exists and this is the first occurrence, James should reject the price increase as the supplier should account for these risks in their pricing. Reference: CIPS Level 4, Contract Management and Cost Control.
The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct?
A firm also has to look at a myriad of other factors before setting its prices. Those factors include the offering's costs, the demand, the customers whose needs it is designed to meet, the external environment---such as the competition, the economy, and government regulations---and other aspects of the marketing mix, such as the nature of the offering, the current stage of its product life cycle, and its promotion and distribution. If a company plans to sell its products or services in international markets, research on the factors for each market must be analyzed before setting prices. Organizations must understand buyers, competitors, the economic conditions, and political regulations in other markets before they can compete successfully.
[...]
The costs of the product---its inputs---including the amount spent on product development, testing, and packaging required have to be taken into account when a pricing decision is made. So do the costs related to promotion and distribution. For example, when a new offering is launched, its promotion costs can be very high because people need to be made aware that it exists. Thus, the offering's stage in the product life cycle can affect its price.
- CIPS study guide page 90-91
- 15.2 Factors That Affect Pricing Decisions -- Principles of Marketing (umn.edu)
LO 2, AC 2.2
A large sports organisation requires some additional racing equipment to be built. It should match exactly the pre-determined technical specifications and requires exact compatibility. Which of the following specifications would be most appropriate?
As the lead procurement manager, you have been asked to compile a business case for a large project. Which of the following should you include in the business case?
Costs and risks
List of large suppliers
Business benefits
Informal recommendation
Unlock All Questions for CIPS L4M2 Exam
Full Exam Access, Actual Exam Questions, Validated Answers, Anytime Anywhere, No Download Limits, No Practice Limits
Get All 238 Questions & Answers