| A | B |
|---|
| Which is a consideration in the place element of marketing? | Choosing distribution channels |
| Marketing strategies are designed and implemented for the overall purpose of which action? | Achieving planned goals |
| Companies have been forced to pay more attention to the specific needs of consumers because of which factor? | Competition |
| Before producing and selling a product, which action should marketers do first? | Identify the market for the product |
| Proctor and Gamble's decision to offer different types of soaps in a wide range of prices is an example of which strategy? | market segmentation |
| When sellers offer one-size-fits-all products that will appeal to most buyers, they are using which strategy? | Mass marketing |
| Which is a question that a business owner should answer about its target market while conducting a situational analysis? | What are our customers buying? |
| A marketing plan should outline the specific activities that the business will use to perform which action? | Achieve its marketing objectives |
| Which item might be included in the appendix of a marketing plan | A product photograph |
| What section of the marketing plan includes information about expected results? | Performance and Implementation |
| Which is an important benefit of a marketing plan? | They can help obtain funding |
| Which situation presents a business threat to a company? | A competitor obtains a bank loan for expansion |
| Which should be included in the executive summary of a marketing plan | A mission statement |
| Where in a marketing plan would a business owner place the plans to communicate with its customers? | Marketing strategies and programs |
| Which is an external threat that a company might identify while conducting a situation analysis? | Raising inflation rates |
| Which is often included in a situation analysis of a marketing plan? | A SWOT analysis chart |
| A business identifies a market that shares common characteristics on the basis of where people live and work. This is an example of market identification by which segmentation/ | Geographic |
| Identifying market segments helps a business to develop which factors appropriately? | Marketing strategies |
| 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? | Mass |
| Businesses that segment the market based on psychographics are grouping people according to which attribute? | Lifestyles |
| Selecting a target market based on very specific criteria that limit the audience to a well-defined segment is an example of which strategy? | Niche Marketing |
| 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? | Accessible |
| One way that a business can learn about the activities of competitors is to perform which action/ | Review secondary data |
| What is a potential threat a manager might identify in a SWOT analysis? | Growing government regulation |
| Which form of business ownership can raise money easily? | Corporation |
| Which question is it important to ask to determine the strengths of a business when conducting a SWOT analysis? | Where are we making money? |
| Which is an activity that a business performs when conducting a competitive analysis? | Monitors marketing strategies of rivalry |
| One of the purposes of conducting a market analysis is to develop which component? | Customer Profile |
| Which is a factor that businesses often consider when conducting a market analysis | Size of the market next year |
| One reason why it is often important for businesses to conduct a competitive analysis is to identify factors | external threats |
| Which is a question that a business might ask when it wants to evaluate its weaknesses | What resources do we lack? |
| When a business conducts a customer analysis and identifies territories, determines the possible buyers in the territories, and estimates the purchases of buyers, it is evaluating which factor? | Market potential of an area |
| Which is the primary reason for governments to regulate business activities? | To protect the well-being of individuals and businesses |
| Which type of laws protects the inventions or written works of a business from the unauthorized use by others | Intellectual property |
| Which is a major advantage of a sole proprietorship | ease of start-up |
| A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for which situation? | Negligence |
| Why do businesses with excessive debts often file Chapter 7 bankruptcy? | To liquidate |
| Which is a disadvantage for each partner of general partnership? | The liability for the losses of the business |
| Which is an important advantage for the corporate form of business ownership? | Ability to raise large amounts of capital |
