8405289
Description
Quiz by Chad Collins, updated more than 1 year ago
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Created by Chad Collins
about 7 years ago
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Question 1
Question
Which is a factor that businesses often consider when conducting a market analysis?
Answer
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Location of test market
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Size of the market next year
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Safety of the research process
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Design of the questionnaire
Question 2
Question
Which is a question that a business might ask when it wants to evaluate its weaknesses?
Answer
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What resources do we lack?
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What is our competition doing?
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What markets have our competitors missed?
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What obstacles do we face?
Question 3
Question
Which form of business ownership can raise money easily?
Answer
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Partnership
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Corporation
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Sole proprietorship
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Limited partnership
Question 4
Question
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?
Answer
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Psychographics of a segment
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Market potential of an area
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Potential media exposure
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Market share of competitors
Question 5
Question
Which is an activity that a business performs when conducting a competitive analysis?
Answer
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Sets productivity goals
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Monitors marketing strategies of a rivalry
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Calculates income data
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Develops selling procedures
Question 6
Question
One reason why it is often important for businesses to conduct a competitive analysis is to identify factors?
Answer
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External threats
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Potential vendors
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Economic conditions
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Future employees
Question 7
Question
What is a potential threat a manager might identify in a SWOT analysis?
Answer
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Growing government regulation
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Economy rebounding
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Weak market image
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Cost advantages
Question 8
Question
One way that a business can learn about the activities of competitors is to perform which action?
Answer
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Develop product specifications
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Evaluate intranet efficiencies
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Review secondary data
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Identify communication barriers
Question 9
Question
Which question is it important to ask to determine the strengths of a business when conducting a SWOT analysis?
Answer
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What economic trends are beneficial to us?
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What are our competitors doing?
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Where are we making money?
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What obstacles do we face?
Question 10
Question
One of the purposes of conducting a market analysis is to develop which component?
Answer
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Operating budget
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Distribution plan
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Customer profile
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Management team
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