Podcast
Questions and Answers
What is the term used to describe the process of gathering, analyzing and interpreting information about products or services to be offered for sale?
What is the term used to describe the process of gathering, analyzing and interpreting information about products or services to be offered for sale?
- Opportunity seeking and exploitation
- Market research (correct)
- Resource mobilizing
- Data collection
Which of the following is NOT a characteristic of a physical market?
Which of the following is NOT a characteristic of a physical market?
- Brings buyers and sellers together in the same location
- Requires distribution centers through franchisees or affiliated dealers
- Involves distributions direct to buyers (correct)
- Is common in neighboring areas with the least investment and asset
What term is used to describe businesses that offer services and goods similar to your own?
What term is used to describe businesses that offer services and goods similar to your own?
- Uniqueness
- Indirect competition
- Entry barriers
- Direct competition (correct)
Which of the following is NOT a key element of entrepreneurship?
Which of the following is NOT a key element of entrepreneurship?
What term is used to describe the ongoing process of considering, evaluating and pursuing market-based activities that are believed to be advantageous for the firm?
What term is used to describe the ongoing process of considering, evaluating and pursuing market-based activities that are believed to be advantageous for the firm?
What term is used to describe the pool of potential customers who need your good or service?
What term is used to describe the pool of potential customers who need your good or service?
Which of the following is NOT a key characteristic of an entrepreneur?
Which of the following is NOT a key characteristic of an entrepreneur?
What term is used to describe the likes and dislikes of your customers?
What term is used to describe the likes and dislikes of your customers?
What is the term used to describe businesses that offer alternative solutions for problems that your company solves?
What is the term used to describe businesses that offer alternative solutions for problems that your company solves?
Which of the following is NOT a key element of market research?
Which of the following is NOT a key element of market research?
