Question 1

Market research is typically ________.

Accepted Answer

A)  Ongoing: You always do market research 
B)  Complete a year after product introduction 
C)  Complete prior to product introduction 
D)  Complete within six months after introduction 
E)  Complete when the product or service is introduced 
A)  Ongoing: You always do market research 
B)  Complete a year after product introduction 
C)  Complete prior to product introduction 
D)  Complete within six months after introduction 
E)  Complete when the product or service is introduced

Question 2

Industry associations, chambers of commerce, and public agencies frequently collect demographic and statistical data on and for their members or constituents.

Accepted Answer

A) True 
 B)False

Question 3

Explain the difference between features and benefits and how it applies to sales.

Accepted Answer

The features of a product are facts, suc

Question 4

Marketing is the satisfying of customer needs ________.

Accepted Answer

A)  At a profit 
B)  At no profit 
C)  With no attention to profit 
D)  Regardless of profit 
E)  At the breakeven point 
A)  At a profit 
B)  At no profit 
C)  With no attention to profit 
D)  Regardless of profit 
E)  At the breakeven point

Question 5

Statistics dealing with the behavior of groups of people are called geographics.

Accepted Answer

A) True 
 B)False

Question 6

When has a market become saturated?

Accepted Answer

A)  When there has been so much advertising and publicity that almost every person in the market is aware of the product 
B)  When competitors have entered the market and forced the price of the product so low that the businesses selling it can no longer earn a profit 
C)  When most of the people in the market who are interested in the product have already purchased it 
D)  When nobody wants to buy the product 
E)  When all customers decide that they do not like the product 
A)  When there has been so much advertising and publicity that almost every person in the market is aware of the product 
B)  When competitors have entered the market and forced the price of the product so low that the businesses selling it can no longer earn a profit 
C)  When most of the people in the market who are interested in the product have already purchased it 
D)  When nobody wants to buy the product 
E)  When all customers decide that they do not like the product

Question 7

Which of the following is a step in determining how customers decide to buy a product?

Accepted Answer

A)  Analyze the buying process 
B)  Think about who might actually buy it 
C)  Determine the need it meets 
D)  All of the above 
E)  None of the above 
A)  Analyze the buying process 
B)  Think about who might actually buy it 
C)  Determine the need it meets 
D)  All of the above 
E)  None of the above

Question 8

Understanding the status and trends of an industry can be aided by ________.

Accepted Answer

A)  Checking out the internet public library, your local Small Business Administration, chamber of commerce, or local business school or college library 
B)  Looking for recent articles on the industry in magazines or by using Google or other search engines 
C)  Looking on competitors' Web sites 
D)  All of the above 
E)  None of the above 
A)  Checking out the internet public library, your local Small Business Administration, chamber of commerce, or local business school or college library 
B)  Looking for recent articles on the industry in magazines or by using Google or other search engines 
C)  Looking on competitors' Web sites 
D)  All of the above 
E)  None of the above

Question 9

What is tracking and how does it help?

Accepted Answer

Tracking is a way to do primary research

Question 10

Annual reports of competitors can provide information for benchmarking and include industry insights.

Accepted Answer

A) True 
 B)False

Market research is typically ________.

Industry associations, chambers of commerce, and public agencies frequently collect demographic and statistical data on and for their members or constituents.

Explain the difference between features and benefits and how it applies to sales.

Marketing is the satisfying of customer needs ________.

Statistics dealing with the behavior of groups of people are called geographics.

When has a market become saturated?

Which of the following is a step in determining how customers decide to buy a product?

Understanding the status and trends of an industry can be aided by ________.

What is tracking and how does it help?

Annual reports of competitors can provide information for benchmarking and include industry insights.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, Fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, Equity, or Both

Addressing Legal Issues and Managing Risk

Operating for Success

Location, Facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, Licensing, and Harvesting: Cashing in Your Brand

Filters

Exam 6: Exploring Your Market

Market research is typically ________.

Industry associations, chambers of commerce, and public agencies frequently collect demographic and statistical data on and for their members or constituents.

Explain the difference between features and benefits and how it applies to sales.

Marketing is the satisfying of customer needs ________.

Statistics dealing with the behavior of groups of people are called geographics.

When has a market become saturated?

Which of the following is a step in determining how customers decide to buy a product?

Understanding the status and trends of an industry can be aided by ________.

What is tracking and how does it help?

Annual reports of competitors can provide information for benchmarking and include industry insights.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, Fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, Equity, or Both

Addressing Legal Issues and Managing Risk

Operating for Success

Location, Facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, Licensing, and Harvesting: Cashing in Your Brand

Filters