Unit 4 test

Sources of secondary data include all of the following except

A. customer feedback from a survey*** b. publications issued by government and community organizations c. trade magazines and websites d. newspaper articles

Which of the following is not an example of primary data?

a. a survey B. statistics from a government website*** c. observation of customer behavior d. all of these are examples of primary data

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

a. demographics b. psychographics c. use-based data D. geographic data***

Collecting primary data can be time-consuming and expensive.

true

Which of the following is not a good way to get customer feedback?

A. check with your competition *** b. call customers the day after they make a purchase c. use a customer feedback box d. have customers complete a survey after shopping with you

Matching

Demographics primary data focus group customer profile

Which of the following is not a reason that entrepreneurs need to know who their customers are?

a. customers won't buy products that don't meet their needs b. companies cannot remain in business without customers C. customers have no influence on products or services offered*** d. customers can help businesses estimate demand for products and services

Which of the following is not a step involved when preparing a competitive analysis?

a. identify your competitors B. create a customer profile*** c. list each competitor's strengths and weaknesses d. summarize the products and prices offered by your competitors

Which of the following is a strategy for maintaining customer loyalty?

a. keeping standard business hours b. adhering to strict return policies C. offering superior service *** d. none of these

It is difficult for small businesses to compete with large retailers because

a. large retailers usually are able to keep larger quantities of products in stock b. large retail chains do not rely on a single product line c. large companies usually have more resources to devote to advertising D. all of these***

To identify your target market, you need to know

a. who your customers are b. how old your customers are c. where your potential customers currently shop D. all of these***

Businesses do not need to identify their target market in order to succeed.

false

Longer surveys are always better because you can collect more information.

false

Matching

psychographics direct competition secondary data customer relationship management (CRM)