Quiz 4
Which type of ownership is the most expensive to start
Corporation
Corporations distribute profits to owners through:
Dividends
Market segmentation is the process of:
Dividing the market into smaller homogeneous groups
Competitor Analysis begins with
Documenting the current strategy of each primary competitor
It is harder to charge a high price if the company operates in a differentiated market
False
The internet is a good source of primary information, but does not provide many secondary sources
False
The marketing mix consists of the following variables: external environmental factors, internal environmental factors, and marketing strategy
False
The only source of capital for a corporation is the sale of shares of stock
False
The proprietor is only personally liable for all aspects of the business when gross negligence occurs
False
Transferability of interest is easiest in a limited partnership
False
________ have unlimited liability for the actions of the business
General partners
The most common approach to gathering primary information is:
Interviewing
Once the marketing goals and objectives have been established, the entrepreneur can begin to the develop the _______ and _______ to achieve them
Marketing strategy, action plan
Observation, interviewing, and focus groups are examples of collecting:
Primary data
The _______ is the specific group of potential customers toward which a venture aims its marketing plan
Target Market
Shareholders in an S corporation have the same liability protection as shareholders in a C corporations
True
The corporation has the most continuity of the forms of business
True
The first step in preparing the marketing plan is to define the target market
True
The marketing system identifies the major interacting components, both internal and external to the firm
True
In a limited partnership, the limited partners:
are liable only for the amount of their capital expenditures