Business Terminology Quiz

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What is the most reliable way of getting relevant information from target customers?

Telephone interview

Mailed questionnaire

Personal interview (correct)

Focus group discussion

Which method is less time-consuming and less expensive but has a lower response rate compared to face-to-face interviews?

Questionnaire

Focus group discussion

Email survey

Telephone interview (correct)

What refers to the ultimate marketing strategy because they sell and push the product?

Positioning

Promotion

Packaging

People (correct)

What is a process used by marketers to create an image in the minds of a target market?

Positioning Signup and view all the answers

Which of the following is an excellent method for generating and screening ideas and concepts?

Focus group discussion Signup and view all the answers

What is the traditional method of conducting an interview?

Personal interview Signup and view all the answers

What is the term used for entrepreneurs who always come up with new ideas?

Innovative entrepreneurs Signup and view all the answers

Which type of entrepreneur follows the ideas of other entrepreneurs without creating anything new?

Imitating entrepreneur Signup and view all the answers

Which factor affecting entrepreneurship refers to doing things even before being told?

Initiative Signup and view all the answers

Which type of entrepreneur entices people to buy even if they don’t want to?

Persuasion entrepreneur Signup and view all the answers

Which type of entrepreneur makes plans before doing things and monitors them without failing?

A Planner Signup and view all the answers

What is the purpose of a target market?

To identify buyers with common needs and characteristics Signup and view all the answers

What is the term used for entrepreneurs that live on the labor of others?

Fabian entrepreneurs Signup and view all the answers

Which of the following is described as the most valuable tool in any type of research study?

Data Collection Signup and view all the answers

What does a Unique Selling Proposition (USP) refer to?

An intangible thing or product that cannot be touched Signup and view all the answers

Which term is defined as the process of gathering, analyzing, and interpreting information about products or services offered for sale?

Data Collection Signup and view all the answers

What is a survey in the context of business?

A method of collecting data from customers or target markets Signup and view all the answers

What is the purpose of an interview in business?

To collect data from customers in a structured manner Signup and view all the answers