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entrepreneurship: test 3
Terms in this set (39)
Which is a consideration in the place element of marketing?
Choosing distribution channels
Marketing strategies are designed and implemented for the overall purpose of which action?
Achieving planned goals
Proctor and Gamble's decision to offer different types of soaps in a wide range of prices is an example of which strategy?
Companies have been forced to pay more attention to the specific needs of consumers because of which factor?
When sellers offer one-size-fits-all products that will appeal to most buyers, they are using which strategy?
Before producing and selling a product, which action should marketers do first?
Identify the market for the product
Which is a question that a business owner should answer about its target market while conducting a situational analysis?
What are our customers buying?
Which is an external threat that a company might identify while conducting a situation analysis?
Raising inflation rates
A marketing plan should outline the specific activities that the business will use to perform which action?
Achieve its marketing objectives
What section of the marketing plan includes information about expected results?
Performance and implementation
Which is an important benefit of a marketing plan?
They can help obtain funding.
Where in a marketing plan would a business owner place the plans to communicate with its customers?
Marketing strategies and programs
Which item might be included in the appendix of a marketing plan?
A product photograph
Which should be included in the executive summary of a marketing plan?
A mission statement
Which is often included in a situation analysis of a marketing plan?
A SWOT analysis chart
Which situation presents a business threat to a company?
A competitor obtains a bank loan for expansion.
A business identifies a market that shares common characteristics on the basis of where people live and work. This is an example of market identification by which segmentation?
Identifying market segments helps a business to develop which factors appropriately?
Selecting a target market based on very specific criteria that limit the audience to a well-defined segment is an example of which strategy?
Businesses that segment the market based on psychographics are grouping people according to which attribute?
When a business selects a target market, the most useful or desirable market segments to the business are those that are measurable and identified as which characteristic?
When the Green Company selected its target market, it decided to ignore the segment differences and generate appeal with one offer. The company is using which marketing strategy?
What is a potential threat a manager might identify in a SWOT analysis?
Growing government regulation
One way that a business can learn about the activities of competitors is to perform which action?
Review secondary data
Which question is it important to ask to determine the strengths of a business when conducting a SWOT analysis?
Where are we making money?
Which is a factor that businesses often consider when conducting a market analysis?
Size of the market next year
One of the purposes of conducting a market analysis is to develop which component?
When a business conducts a customer analysis and identifies territories, determines the possible buyers in the territories, and estimates the purchases of buyers, it is evaluating which factor?
Market potential of an area
One reason why it is often important for businesses to conduct a competitive analysis is to identify factors?
Which is an activity that a business performs when conducting a competitive analysis?
Monitors marketing strategies of a rivalry
Which form of business ownership can raise money easily?
Which is a question that a business might ask when it wants to evaluate its weaknesses?
What resources do we lack?
Why do businesses with excessive debts often file Chapter 7 bankruptcy?
Which type of laws protects the inventions or written works of a business from the unauthorized use by others?
Which is the primary reason for governments to regulate business activities?
To protect the well-being of individuals and businesses
A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for which situation?
Which is an important advantage for the corporate form of business ownership?
Ability to raise large amounts of capital
Which is a disadvantage for each partner of a general partnership?
The liability for the losses of the business
Which is a major advantage of a sole proprietorship?
Ease of start-up
Sets found in the same folder
Vocab quiz: entrepreneurship
entrepreneur test 1
vocab quiz 2: entrepreneurship
entrepreneurship: test 2
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