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Entr. 1 Unit 2 And 3
Test Description: Review
Instructions: Answer all questions to get your test result.
1) Variable expenses increase in direct proportion to the rate of which factor?
A
Competition
B
Production
C
Motivation
D
Automation
2) Regan is deciding if she is willing to give up a secure position with a well-known company so she can start a home-based business. Which risk is Regan assessing?
A
Social
B
Financial
C
Physical
D
Career
3) The primary purpose of a feasibility study is to answer which question?
A
Is this Business Plan valid?
B
Should we proceed with this project?
C
What are the opportunity costs of this project?
D
What technology will be needed for this project?
4) Marketing strategies are designed and implemented for the overall purpose of which action?
A
Achieving planned goals
B
Increasing business profits immediately
C
Improving management techniques
D
Changing the image of the business
5) When sellers offer one-size-fits-all products that will appeal to most buyers, they are using which strategy
A
Mass Production
B
Demographic Segmentation
C
Market Segmentation
D
Mass Marketing
6) Which is often included in a situation analysis of a marketing plan?
A
A list of the marketing objectives for a company
B
A SWOT analysis chart
C
A list of the proposed strategies and programs
D
Performance standards for implementing the plan
7) Which is an important benefit of a marketing plan?
A
They develop exciting products.
B
They can help obtain funding.
C
They help recruit quality employees.
D
They ensure a yearly profit.
8) 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?
A
Individual
B
Isolated
C
Mass
D
Niche
9) 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?
A
Undifferentiated
B
Accessible
C
Concentrated
D
Inflexible
10) One of the purposes of conducting a market analysis is to develop which component?
A
Operating Budget
B
Management Team
C
Customer Profile
D
Distribution Plan
*select an answer for all questions
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