ENTRE Fall 2018 - Most Missed

Question 1

Forecasting sales for market plans is important because a forecast is used as which component?

Accepted Answer

Standard of measurement.

Question 2

The costs of operating a business are often called which expenses?

Accepted Answer

Overhead

Question 3

IAM Co places a new product on the market, how should elements of promotional mix be designed?

Accepted Answer

To inform consumers about the existence of the product.

Question 4

When identifying which promotional approaches to use, a business should perform which action?

Accepted Answer

Choose those that match its image.

Question 5

What do businesses often take into consideration when forecasting sales for marketing plans?

Accepted Answer

The market share of their competitors.

Question 6

What is a potential threat a manager might identify in a SWOT analysis?

Accepted Answer

Size of the market next year.

Question 7

In marketing, what is utility?

Accepted Answer

Value/benefits a consumer receives by consuming a product.

Question 8

What is the percentage of sales method?

Accepted Answer

Allocation of budget funding based on previous years data.

Question 9

Use the following information to calculate.

Accepted Answer

360

Question 10

Marketing strategies are designed and implemented for the overall purpose of which action?

Accepted Answer

Achieving planned goals.

Question 11

Which should be included in the executive summary of a marketing plan?

Accepted Answer

A mission statement.

Question 12

What is a disadvantage of entrepreneurship?

Accepted Answer

Uncertain Income

Question 13

A company might take an existing product and alter it. Where would they see the benefit most?

Accepted Answer

Target Market

Question 14

Use information to calculate total cost.

Accepted Answer

$1,119

Question 15

Which is an example of an effective marketing objective that a business might set?

Accepted Answer

Increase profit by 6% next year.

Question 16

What type of promotion is a business's advertisement that informs consumers how they recycling?

Accepted Answer

Institutional Promotion

Question 17

Use of samples or cents-off coupons on grocery items is an example of which type of promotion?

Accepted Answer

Sales Promotion

Question 18

What is a potential threat a manager might identify in a SWOT analysis?

Accepted Answer

Growing Government Regulation

Questions 18