Question 1

The best way to gather information about whether or not potential customers will buy a new product is to ask them.

Accepted Answer

A) True 
 B)False

Question 2

A group is discussing options so that it can make a decision. One group member has been assigned the role of questioning each option;that is to raise questions about everything that is suggested. This situation demonstrates the use of

Accepted Answer

A)  groupthink. 
B)  confirmation bias. 
C)  perceptual mapping. 
D)  repertory grid analysis. 
E)  devil's advocate.

Question 3

Secondary data is also known as indirect data.

Accepted Answer

A) True 
 B)False

Question 4

Why is it important for entrepreneurs to gather marketing information before starting a new venture and what are some ways of gathering information?

Accepted Answer

The answer of Why is it important for entrepreneurs to...

Question 5

Market information is

Accepted Answer

A)  an essential. 
B)  a luxury. 
C)  overused. 
D)  all of the above. 
E)  B and C.

Question 6

Policies and regulations that governments adopt strongly affect the fortunes of new ventures. These policies and regulations

Accepted Answer

A)  are almost always ignored by entrepreneurs. 
B)  make it easier to run new ventures. 
C)  make it harder to run new ventures. 
D)  both B and C. 
E)  A, B, and C.

Question 7

The degree to which one political actor coordinates the economic,political,and social activity in a society is called

Accepted Answer

A)  centralization. 
B)  internal relativity. 
C)  external relativity. 
D)  the governmental mix. 
E)  none of the above.

Question 8

Marketing research is

Accepted Answer

A)  more creativity than logic. 
B)  more logic than creativity. 
C)  more art than science. 
D)  more science than art. 
E)  B and D.

Question 9

Federal and state governments often offer tax incentives to companies for which,if any,of the following reasons?

Accepted Answer

A)  Locating in certain geographic regions. 
B)  choosing to renovate and improve older buildings that have been designated as having historical significance. 
C)  For research and development activities that are directed towards discovering information that is "technological in nature. 
D)  A, B, and C. 
E)  None of the above.

Question 10

Industry analysis refers to searching out,and understanding,information about whether,and how,a new firm might fit into an existing industry.

Accepted Answer

A) True 
 B)False

Question 11

In the past,airlines in the United States tended to hire only women,and only if they fit within a range of height and weight. These requirements tended to rule out men and women who did not fit the height and weight limits. Therefore,these hiring requirements resulted in

Accepted Answer

A)  OSHA. 
B)  adverse impact. 
C)  American with Disabilities Act. 
D)  marginal tax rate. 
E)  lower unemployment rate.

Question 12

To eligible for the HubSone program,a small business must be located in a historically underutilized business zone,be wholly owned and controlled by U.S.citizens,and draw at least 85 percent of its employees from a HubZone.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements is true about marketing a new product?

Accepted Answer

A)  A company needs to gather information from customers before it gets to the stage of marketing a new product. 
B)  A company needs to gather information from customers when it gets to the stage of marketing a new product. Collecting it early is inefficient. 
C)  After the company gets to the stage of marketing a new product, it needs to gather information from potential customers. 
D)  A company does not need to gather information from customers regarding the marketing of its new product. 
E)  None of the above statements are true.

Question 14

Smart entrepreneurs will always be able to anticipate which new products or services will be adopted by customers.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following will guarantee success?

Accepted Answer

A)  Excellent marketing information. 
B)  Strong demographic data. 
C)  Undisputed secondary data. 
D)  An equal combination of A and C. 
E)  None of the above.

Question 16

A type of diagram of potential customers' perceptions,like a map revealing the key dimensions along which they perceive products and evaluate them,is called

Accepted Answer

A)  customer mapping. 
B)  perceptual mapping. 
C)  focus group mapping 
D)  potential mapping. 
E)  profit mapping.

Question 17

An aspect of the tax code that allows businesses to deduct from earnings a portion of the cost of the equipment on a yearly basis for a set period of time is called

Accepted Answer

A)  tax credit. 
B)  depreciation. 
C)  an adverse impact. 
D)  developmental relief. 
E)  none of the above.

Question 18

Which of the following would be a factor that can badly distort the interpretation of information?

Accepted Answer

A)  The tendency to accept early favorites. 
B)  Group polarization. 
C)  Group think. 
D)  Tendency to ignore unshared information. 
E)  All of the above

Question 19

Discuss several government organizations designed to assist entrepreneurs. What is the goal of each?.

Accepted Answer

The answer of Discuss several government organizations designed to assist...

Question 20

In market research,a perceptual map refers to a way to identify the important things in a product that customers perceive and evaluate.

Accepted Answer

A) True 
 B)False

Exam 4: What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

The best way to gather information about whether or not potential customers will buy a new product is to ask them.

A group is discussing options so that it can make a decision. One group member has been assigned the role of questioning each option;that is to raise questions about everything that is suggested. This situation demonstrates the use of

Secondary data is also known as indirect data.

Why is it important for entrepreneurs to gather marketing information before starting a new venture and what are some ways of gathering information?

Market information is

Policies and regulations that governments adopt strongly affect the fortunes of new ventures. These policies and regulations

The degree to which one political actor coordinates the economic,political,and social activity in a society is called

Marketing research is

Federal and state governments often offer tax incentives to companies for which,if any,of the following reasons?

Industry analysis refers to searching out,and understanding,information about whether,and how,a new firm might fit into an existing industry.

In the past,airlines in the United States tended to hire only women,and only if they fit within a range of height and weight. These requirements tended to rule out men and women who did not fit the height and weight limits. Therefore,these hiring requirements resulted in

To eligible for the HubSone program,a small business must be located in a historically underutilized business zone,be wholly owned and controlled by U.S.citizens,and draw at least 85 percent of its employees from a HubZone.

Which of the following statements is true about marketing a new product?

Smart entrepreneurs will always be able to anticipate which new products or services will be adopted by customers.

Which of the following will guarantee success?

A type of diagram of potential customers' perceptions,like a map revealing the key dimensions along which they perceive products and evaluate them,is called

An aspect of the tax code that allows businesses to deduct from earnings a portion of the cost of the equipment on a yearly basis for a set period of time is called

Which of the following would be a factor that can badly distort the interpretation of information?

Discuss several government organizations designed to assist entrepreneurs. What is the goal of each?.

In market research,a perceptual map refers to a way to identify the important things in a product that customers perceive and evaluate.