ENTREPRENEURSHIP 2ND 9 WEEKS REVIEW FIRST SEMESTER

Which of the following would be considered an indirect competitor of McDonald's?

(a) Kentucky Fried Chicken (b) Pizza Hut (c) Subway ANSWER (D): all of these

Competitors should be analyzed concerning their

(a) prices (b) locations (c) strengths and weaknesses ANSWER: (d) all of these

Your marketing strategy should address

(a) product introduction or innovation (b) pricing (c) market share ANSWER: (d) all of these.

A business plan should

(a)explain who will supply your business (b)show how your business will win over customers from competitors. (c) explain who will run your business (d) all the above Answer: D

Marketing consists of all of the following processes except

(b) operating

To use the marketing concept, businesses must do all of the following except

(c) devote half of its profits toward marketing,

Which of the following would most likely be the target market for a car dealer selling moderately priced minivans?

Middle-class families with children

A business plan title page includes all of the following except

a brief description of the busniess

SBDCs

all of these

In the financial management section of its business plan, a new business must include

all the above

The marketing section of your plan explains

all the above

The introduction section of a business plan contains all of the following except

an identification code

Small businesses may have difficulty competing with large retailers because large retailers

are able to keep larger quantities of products in stock

Data that help you determine where your potential customers live and how far they will travel to do business with you are called

geographic data

By continually evaluating your market, you can be ready to respond to changes in all of the following except

government

Demographics are data that describe a group of people in terms of their

income

Social media marketing

is a good way for companies to increase exposure

The customers you would most like to attract are referred to as your

target market

Before lenders will loan money to a new business

they need to be convinced that the leadership team of the business have the skills and characteristics necessary to succeed

A business plan explains how your product or service...

will be produced