Podcast
Questions and Answers
What is a low-risk method of expanding into a new market mentioned in the text?
What is a low-risk method of expanding into a new market mentioned in the text?
- Geographic expansion
- Product diversification
- Market research
- Franchising (correct)
Which type of diversification involves a company creating a product for a completely different industry and market?
Which type of diversification involves a company creating a product for a completely different industry and market?
- Geographic diversification
- Similar product diversification
- Brand diversification
- Unique product diversification (correct)
What does a franchisee typically pay the franchisor in a franchising agreement?
What does a franchisee typically pay the franchisor in a franchising agreement?
- A commission on sales
- A percentage of profits
- An ongoing royalty fee
- An initial fee (correct)
How can a business avoid typical roadblocks to expansion mentioned in the text?
How can a business avoid typical roadblocks to expansion mentioned in the text?
What is the purpose of geographic expansion for businesses according to the text?
What is the purpose of geographic expansion for businesses according to the text?
When might diversification be risky for a business?
When might diversification be risky for a business?
What is the first step in the strategic planning process?
What is the first step in the strategic planning process?
What do strategic objectives in an organization refer to?
What do strategic objectives in an organization refer to?
Why do executives consider several alternatives before choosing a course of action?
Why do executives consider several alternatives before choosing a course of action?
What does strategic planning call for according to the text?
What does strategic planning call for according to the text?
Which part of the organization's statements is used to extract key objectives for strategy formulation?
Which part of the organization's statements is used to extract key objectives for strategy formulation?
What is the primary focus of positive outcomes in strategic planning as mentioned in the text?
What is the primary focus of positive outcomes in strategic planning as mentioned in the text?
What should customers do in the stage of Evaluation of Alternatives?
What should customers do in the stage of Evaluation of Alternatives?
What is a key consideration for customers in the Evaluation of Alternatives stage?
What is a key consideration for customers in the Evaluation of Alternatives stage?
How should technopreneurs help customers in making a purchase decision?
How should technopreneurs help customers in making a purchase decision?
What action indicates that customers are ready to make a purchase according to the text?
What action indicates that customers are ready to make a purchase according to the text?
Why is it important for customers to be familiar with competitor's products and service prices?
Why is it important for customers to be familiar with competitor's products and service prices?
How has globalization impacted marketing?
How has globalization impacted marketing?
What is a critical aspect for technopreneurs in Stage 4: Make the purchase?
What is a critical aspect for technopreneurs in Stage 4: Make the purchase?
What is one of the benefits of globalization mentioned in the text?
What is one of the benefits of globalization mentioned in the text?
How do businesses benefit from globalization in terms of marketing?
How do businesses benefit from globalization in terms of marketing?
What is a challenge of globalization mentioned in the text?
What is a challenge of globalization mentioned in the text?
Why has globalization made marketing more inclusive?
Why has globalization made marketing more inclusive?
Which aspect of globalization has led to access to new talented and highly skilled workers?
Which aspect of globalization has led to access to new talented and highly skilled workers?
What is the formula for markup pricing mentioned in the text?
What is the formula for markup pricing mentioned in the text?
Which pricing strategy involves setting a price to achieve a specific rate of return on investment?
Which pricing strategy involves setting a price to achieve a specific rate of return on investment?
What impacts how a business sets prices significantly?
What impacts how a business sets prices significantly?
Which factor influences the perceived value of a product according to the text?
Which factor influences the perceived value of a product according to the text?
In value pricing, what do businesses base their prices on?
In value pricing, what do businesses base their prices on?
What does value pricing aim to do for customers?
What does value pricing aim to do for customers?
