Exam 3: Financing Your Business and Accounting Practices

What are the most important technical requirements to consider when developing a working prototype?

Other companies which offer products similar to yours are called:

A typical feasibility study includes all of the following areas,except:

The ______ approach utilizes published statistics and weights them by an index that may be some factor such as the percentage of the population within your designated geographic area.

A cost advantage competitive strategy involves a significantly lower cost compared to the competition which permits reasonable profit margins while offering lower prices.

This process of breaking down large,heterogeneous consumer or industrial markets into more homogeneous groups is known as:

Selecting a location is most critical for which of the following businesses?

When it comes to the "one-store test" to test your product,you are safe to assume that the single location will be representative of the marketplace in general.

A microprocessor used to control a single-person car is an example of a product that is:

Which of the following competitive strategies identifies a position in the market that has been overlooked by your competitors?

Describe market segmentation based on geographic location.

A SWOT analysis represents:

Which of the following competitive strategies creates a meaningful difference between your products and those of the competition,which creates a higher level of perceived customer benefits?

The first comprehensive plan you need in contemplating any new venture is called:

_________ data comprise information that others have put together relating to your industry and/or your customers.

Which part of the feasibility study contains information about the distribution channels for your product?

A discount expressed as "2/10 net 30" means the customer can take a 2 percent cash discount for making payment within 10 days.Otherwise,the customer must increase the invoice total by 2 percent and pay that amount in 30 days.

One key source of demographic data on the Canadian market is:

The principal ingredients of a marketing program include all of the following,except:

Items such as specialty products or jewellery,for example,typically have markups in the range of: