Marketing 2 - Unit 1

Investing energy and creativity instead of money into promoting your products

Entrepreneurs often start their business while working for another company, this allows them:

__________ refers to the mental ability of the entrepreneur to learn new things and generate new ideas

A benefit of Entrepreneurship is working for yourself

This is someone who takes the initiative to start and operate a new business

Madalay Bay, a beach themed hotel, fills the air in their hotel with scents of the beach. This is known as:

Placing the product in the right hands at the right time

__________ refer to the knowledge and proficiency in a specialized field

This is a process that requires perseverance and the willingness to assume some degree of risk

This is an important reason that entrepreneurs have for starting their own businesses

Which of the following is an ADVANTAGE of the proprietorship form of business ownership?

A benefit of Entrepreneurship is not receiving a regular paycheck

All of the physical elements that are used to project the right brand image to customers

A business owned by people who purchase stock in the company

This is a business owned and managed by one person

__________ the relationship and interaction of the entrepreneur with the people he works with and does business with

Developing an idea and providing jobs for people allows entrepreneurs to increase their

A business that is owned by two or more people who share in the decision and profits

Stress is not usually a challenge for entrepreneurs

Entrepreneurs will not be successful without good marketing

Entrepreneurs are ________ and do not listen to the negative people around them.

______________ is an inexpensive (but effective) place for small businesses to advertise

Entrepreneurs are flexible and will refuse to give up despite obstacles/failures. This is:

Entrepreneurs are willing to risk failure to be successful What characteristic is this?

Most businesses do not showprofit for several years.

This legal document allows the corporation to operate as if it were its own person

Because of entrepreneurs, we have:

Displaying products from different categories together in order to generate additional sales

_________ refers to the set of cognitive, technical, and interpersonal skills required in entrepreneurship

The ability to use imaginative skills to find unique ways to solve problems