The purpose of marketing research is __________.
a. to gain customers
b. to identify customer
c. to fulfill customer needs
d. to develop new products
When premature entry into the marketplace causes the failure of a new venture, it can
be termed
a. poor timing.
b. undercapitalization.
c. a design problem.
d. a distribution problem.
Which of the following is not a question commonly asked by banks of entrepreneurs?
a. What do you plan to do with the money?
b. How much do you need?
c. What interest rate did you have in mind?
d. How will you repay the loan?
The main objective of Regulation D is to
a. increase investment in private placement.
b. regulate new small-business investment.
c. make it easier and less expensive for small ventures to sell stock.
d. reduce debt financing by small enterprises.
Poor financial understanding is characterized by which of the following?
a. failure to anticipate technical difficulties
b. inadequate understanding of costs and funding requirements
c. failure to realize the life cycle of a product
d. lack of product differentiation
Of the following, which does the textbook identify as critical to the marketing planning
process?
a. market niche
b. market segmentation
c. marketing research
d. marketing myopia
Rapid technological advances in many industries cause a concern for in new venture
development.
a. faulty product performance
b. rapid product obsolescence
c. inadequate awareness of competitive pressures
d. undercapitalization
The adverse impact of _____ can be so destructive that individuals within the enterprise
will tend to avoid entrepreneurial behavior.
a. traditional management techniques
b. innovative climate rules
c. specific entrepreneurial strategies
d. informal meetings
As NAFTA (North American Free Trade Agreement) has developed
a. new trade barriers have been enacted by Canada
b. trade barriers have been reduced
c. trade among the United States, Canada, and Mexico has decreased
d. entrepreneurial firms have become less competitive
Which of the following is the most common viewpoint in business plans?
a. the entrepreneur’s viewpoint
b. the marketplace’s viewpoint
c. the financial source’s viewpoint
d. the competitor’s viewpoint.
Which of the following is not currently cited as a trend creating business opportunities?
a. green products
b. breakfast cereals
c. health care
d. concierge services
It is reported that _____ new firms have emerged in the United States every year since
the mid-1990s.
a. 600,000
b. 100,000
c. 22,000
d. 230,000
Anyone who violates an author’s exclusive rights under a copyright is liable for:
a. a prison term.
b. infringement.
c. a monetary payment equal to proven damages.
d. two times annual sales.
Which of the following is a critical factor to be considered in the management segment?
a. suppliers
b. location of the plant
c. organizational structure
d. product design
Besides the purchase price, what else should be considered when buying a business?
a. new inventory and living expenses
b. three months’ operating expenses and sales tax
c. none of the above
d. all of the above
One type of budget used by the entrepreneur is
a. an operating budget.
b. a project budget.
c. a cost budget.
d. an R & D budget.
Emerging ventures that are rapidly expanding with constantly increasing personnel size
and market operations will need
a. less formal planning because of constant changes.
b. to formalize planning because there is a great deal of complexity.
c. to establish a pattern of subordinate participation.
d. to evaluate company strengths and weaknesses.
The comprehensive feasibility approach is closely related to
a. the preparation of a thorough financial plan
b. initial customers
c. calendar times
d. good product design
For the author of creative material to obtain a copyright, the material must be in _____
form.
a. nontangible
b. technical
c. tangible
d. commercial
What is the largest source of new business ideas among women?
a. Prior job
b. Hobby
c. Education courses
d. Chance
Most entrepreneurs should be categorized as
a. inventors
b. innovators
c. lucky
d. wealthy
Bottom-line measures of social performance include the unemployment rate and
health-adjusted life expectancy.
Informal risk capitalists are often referred to as ‘business angels.’
A marketing information system compiles and organizes data according to a customer’s
sex, age, and geographic location.
Misunderstanding industry attractiveness can be a fatal flaw in strategic planning.
Frugality is deemed a bootstrapping technique.
Entrepreneurship is more than the mere creation of a business.
There are only two viewpoints from which a business plan should be written, the
entrepreneur’s and the financial source.