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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
Motivation
B
Competition
C
Production
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
Career
B
Social
C
Physical
D
Financial
3) The primary purpose of a feasibility study is to answer which question?
A
What are the opportunity costs of this project?
B
Should we proceed with this project?
C
What technology will be needed for this project?
D
Is this Business Plan valid?
4) Marketing strategies are designed and implemented for the overall purpose of which action?
A
Improving management techniques
B
Changing the image of the business
C
Increasing business profits immediately
D
Achieving planned goals
5) When sellers offer one-size-fits-all products that will appeal to most buyers, they are using which strategy
A
Market Segmentation
B
Demographic Segmentation
C
Mass Production
D
Mass Marketing
6) Which is often included in a situation analysis of a marketing plan?
A
Performance standards for implementing the plan
B
A list of the proposed strategies and programs
C
A SWOT analysis chart
D
A list of the marketing objectives for a company
7) Which is an important benefit of a marketing plan?
A
They ensure a yearly profit.
B
They develop exciting products.
C
They can help obtain funding.
D
They help recruit quality employees.
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
Isolated
B
Individual
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
Concentrated
B
Inflexible
C
Undifferentiated
D
Accessible
10) One of the purposes of conducting a market analysis is to develop which component?
A
Distribution Plan
B
Operating Budget
C
Management Team
D
Customer Profile
*select an answer for all questions
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