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Entrepreneurship Unit 3 Section 3-6
Terms in this set (31)
Which of the following items might be included in a marketing plan's appendix:
A product photograph
What section of the marketing plan includes information about expected results?
Performance and implementation
Which of the following is often included in a marketing plan's situation analysis:
A SWOT analysis chart
Which of the following should be included in a marketing plan's executive summary:
The organization's mission statement
Which of the following is an external threat that a company might identify while conducting a situation analysis:
Raising inflation rates
Which of the following situations presents a business threat to a company:
A competitor obtains a bank loan for expansion.
Which of the following is a question that a business should answer about its target market while conducting a situational analysis:
What are our customers buying?
Where in a marketing plan would a business discuss how it plans to communicate with its customers?
Marketing strategies and programs
Which of the following is an important benefit of marketing plans:
They can help obtain funding.
A marketing plan should outline the specific activities that the business will use to
achieve its marketing objectives.
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 ____________ marketing.
Selecting a target market based on very specific criteria that limit the audience to a well-defined segment is an example of
When a business selects a target market, the most useful or desirable market segments to the business are those that are measurable and
Identifying market segments helps a business to develop appropriate
Businesses that segment the market based on psychographics are grouping people according to their
A business identifies a market that shares common characteristics on the basis of where people live and work, which is an example of market identification by _____________ segmentation.
One way that a business can learn about its competitors' activities is by
reviewing secondary data.
Which of the following is an activity that a business performs when conducting a competitive analysis:
Monitors rivals' marketing strategies
One reason why it is often important for businesses to conduct a competitive analysis is to identify
Which of the following is a question that a business might ask when it wants to evaluate its weaknesses:
What resources do we lack?
Which of the following questions is it important to ask to determine the business's strengths when conducting a SWOT analysis:
Where are we making money?
What is a potential threat a manager might identify in a SWOT analysis?
Growing government regulation
When a business conducts a customer analysis and identifies territories, determines the possible buyers in the territories, and estimates the buyers' purchases, it is evaluating the
area's market potential.
One of the purposes of conducting a market analysis is to develop a(n)
Which of the following is a factor that businesses often consider when conducting a market analysis:
Size of the market next year
A disadvantage of a general partnership is that each partner
is liable for the business's losses.
The form of business ownership that can raise money easily is the
A major advantage of a sole proprietorship is
ease of start-up.
The primary reason that governments regulate business activities is to
protect the well-being of individuals and businesses.
Which of the following types of laws protects a business's inventions or written works from the unauthorized use by others:
A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for
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