1. the Primary Purpose of a Feasibility Study Is to Answer Which of the Following Questions
1. The primary purpose of a feasibility study is to answer which of the following questions:
a-What are the opportunity costs of this project?
b-What technology will be needed for this project?
c-Should we proceed with this project?
d-Is the business plan valid?
2. -Marketing strategies are designed and implemented for the overall purpose of
a-changing the image of the business.
b-achieving planned goals.
c-improving management techniques.
d-increasing business profits immediately
3. -Which of the following is a consideration in the place element of marketing:
a-Offering warranties or guarantees
b-Using sales promotion
c-Choosing distribution channels
d-Extending credit to customers
4. -Companies have been forced to pay more attention to the specific needs of consumers because of
a-merchandising.
b-automation.
c-advertising.
d-competition
5. -Procter & Gamble's decision to offer different types of soaps in a wide range of prices is an example of
a-direct marketing.
b-geographic segmentation.
c-market segmentation.
d-industrial marketing
6. -A marketing plan should outline the specific activities that the business will use to
a-evaluate its sales policies.
b-meet the needs of its employees.
c-increase its buying power.
d-achieve its marketing objectives.
7. -Which of the following is an important benefit of marketing plans:
a-They ensure a yearly profit.
b-They help recruit quality employees.
c-They develop exciting products.
d-They can help obtain funding.
8. -A business identifies a market that shares common characteristics on the basis of where people live and work, which is an example of market identification by ______segmentation.
a-demographic
b-ethnicity
c-geographic
d-values
9. -Businesses that segment the market based on psychographics are grouping people according to their
a-education.
b-marital status.
c-lifestyles.
d-occupation.
10. -Which of the following is a factor that businesses often consider when conducting a market analysis:
a-Location of the test market
b-Safety of the research process
c-Size of the market next year
d-Design of the questionnaire
11. -One of the purposes of conducting a market analysis is to develop a(n)
a-operating budget.
b-customer profile.
c-distribution plan.
d-management team
12. A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for
a-incompetence
b-misrepresentation
c-libel
d-negligence
13. -Which of the following types of laws protects a business's inventions or written works from the unauthorized use by others:
a-Income tax
b-Consumer protection
c-Intellectual property
d-Product liability
14. -Can any brand name be selected and used by a business?
a-No, the name must be legally available for use.
b-Yes, brand names cannot be owned by a business.
c-Yes, a business can use any name it wants to use.
d-No, the name must be registered before it can be used.
15. -One way that a national business chain can make sure that customers will remember its name is to develop a brand name that is
a-long and complicated.
b-similar to those used by competitors.
c-easy to read and pronounce.
d-associated with a specific period of time
16. -Which of the following characteristics is descriptive of a meaningful company objective:
a-Measurable
b-General
c-Vague
d-Unlimited
17. -Which of the following is a reason why managers develop company objectives:
a-To identify business purpose
b-To solve operating problems
c-To forecast sales potential
d-To communicate with employees
18. -Which of the following does effective product/service management help businesses to do:
a-To barter
b-To compete
c-To prospect
d-To recruit
19. -When considering a new product for your company, you decide to introduce the product in only three states for a six-month period. This is known as
a-product development.
b-commercialization.
c-feasibility analysis.
d-test marketing
20. Sandy opened a small business that carries a very wide variety of products of varying qualities at many different prices. Sandy is losing customers who are disappointed with the selection, quality, and quantity of items. What is lacking in Sandy's product mix?
a-Consistency
b-Depth
c-Breadth
d-Width
21. -Which of the following is an example of a company's using brand extension:
a-Coca-Cola adding Caffeine-Free Diet Coke
b-Winn-Dixie installing an ATM machine in its stores
c-Tyson packaging smaller portions of chicken for the elderly
d-Kroger adding Blue Bell ice cream to its frozen foods section}
22. -When a business presents a service to the marketplace by emphasizing its economic value, the business is positioning the product on the basis of its
a-benefits.
b-features.
c-price.
d-competitors
23. -A business that emphasizes a product's environmental friendliness is positioning the product by focusing on
a-price.
b-attributes.
c-competition.
d-reliability
24. -When considering the services to offer customers, a business should determine if a specific service would
a-enhance customer-satisfaction levels.
b-offend the business's existing competitors.
c-increase the amount of customer returns.
d-stabilize variable interest rates.
25. -A business is extending its operating hours to accommodate its customers. Which of the following is a business cost associated with this service:
a-Higher payroll expenses
b-Higher profit margins
c-Increased sales volume
d-Increased customer satisfaction
26. -Marketers often condense USPs into short slogans because
a-a successful USP is always very short.
b-all work team members must memorize them.
c-there cannot be product differentiation through any other means.
d-customers tend to remember just one thing from an advertisement
27. -If your company cannot fulfill its USP, it will
a-go bankrupt.
b-loose credibility.
c-spend more money.
d-gain business.
28. -Channel members should share an equal commitment to the product's
a-name.
b-quality.
c-price.
d-packaging
29. -Marketers determine distribution intensity so they can achieve
a-ideal market exposure.
b-perfect market balance.
c-complete market coverage.
d-total market saturation.
30. -Certain product characteristics often require a business to select intermediaries that have specific
a-demands.
b-limitations.
c-needs.
d-capabilities.
31. -Which of the following are product factors that a business considers when selecting a channel of distribution:
a-Unit value, order size, and complexity
b-Perishability, location, and order size
c-Complexity, perishability, and unit value
d-Location, unit value, and order size
32. -Why would a manager of a local business keep track of the prices that similar businesses in the area are charging?
a-To remain competitive
b-To promote an image
c-To improve advertising
d-To offer new services
33. -Which of the following is a characteristic of a well-conducted feasibility study:
a-Subjective
b-General
c-Abbreviated
d-Complete
34. -Costs of sales for a new manufacturing venture typically include
a-trade show attendance, raw materials, and equipment.
b-raw materials, equipment, and product inventory.
c-trade show attendance, product inventory, and Internet access.
d-Internet access, attorney fees, and sales lead lists.
35. -The costs of operating a business are often called ______expenses.
a-fixed
b-variable
c-overhead
d-markdown