Entrepreneurship I Competency 5

Question 1

Repeated exposure to the largest, most diverse pop. of people is a benefit of __ advert.

Accepted Answer

radio

Question 2

Radio commercials are a form of advertising that a transmitted through __ media

Accepted Answer

broadcast

Question 3

Text-message advertising is most likely to be successfyl when the ads are

Accepted Answer

delivered to the cell numbers of people inter.in the produc.

Question 4

Bus. receive posit. feedback about the effectiv. of their promo messages when consumers

Accepted Answer

buy their products

Question 5

When do businessesusually set the marketing budget

Accepted Answer

After determining objectives

Question 6

marketing metrics that bus. select should relate directly to the __ of the marketing plan

Accepted Answer

objectives

Question 7

What must businesses consider when developing a marketing budget?

Accepted Answer

Cost of performing marketing activities

Question 8

Allocating money based on goods and services sold last year is setting a market. budget

Accepted Answer

by using the percentage-of sales method

Question 9

Businesses should set their selling prices at a level that will

Accepted Answer

cover expected markdowns and expenses

Question 10

Final cost for a prod. is determin by subt. allowed discount and trans charges from the

Accepted Answer

list price

Question 11

Forecast in marketing plans are used as

Accepted Answer

standard of measurement

Question 12

ex. of a measurable obj. that a business might include in its promo plan

Accepted Answer

distribute 500 flyers by March 1

Question 13

New products placed on the market, should have all elements in the promo mix designed to

Accepted Answer

inform consumers about the existence of the product

Question 14

Businesses often take __ into consideration when forecasting sales for marketing plans

Accepted Answer

Competitors' market share

Question 15

Who would a business be most likely to ask for a prediction on next years sales

Accepted Answer

Experienced salesperson

Question 16

The use of samples or cents-off coupons on items is an example of

Accepted Answer

sales promotion

Question 17

A target market of a bus. affects its pricing because each target market

Accepted Answer

judges the value of products differently

Question 18

A manager of a local business would keep track of local competitors to

Accepted Answer

remain competitive

Question 19

Primary elements of a comprehensize promo plan includes

Accepted Answer

media placement specifications and costs

Question 20

Considering the opinions of industry experts is an ex of which forecasting method

Accepted Answer

Qualitative

Question 21

Marketing metrics help businesses compare current market share with

Accepted Answer

market potential

Question 22

Why do some new companies set their sellign prices as low as they can?

Accepted Answer

to get market share as fast as possible

Question 23

When the costs of raw materials increase considerably, a business is likely to

Accepted Answer

increase the selling price of the product

Question 24

One of the main goals of promotion in marketing is to

Accepted Answer

create desire

Question 25

When should a business lower its sales forecast for th coming year

Accepted Answer

inflation rate is expected to rise 2%

Question 26

personal selling should be used when the product is

Accepted Answer

highly technical

Question 27

Ex of an external change that could affect a business's sales forecast?

Accepted Answer

Population of a town increases whena new hosptial opens

Question 28

The marketing obj. that a business develops for its marketing plan should lead to

Accepted Answer

increase in sales

Question 29

newspapers and magazines are categorized as __ media

Accepted Answer

publcations

Question 30

An important objective of promtion is to ___ buyers

Accepted Answer

inform

Question 31

One reason why businesses selct marketing metics is to use them as

Accepted Answer

measurement tool

Question 32

The following is a use of product promotion

Accepted Answer

Informing consumers about product features

Question 33

Metrics that gauge the market's buying habits and attitudes relate to the

Accepted Answer

customer

Question 34

When beginning to develop a promo plan, it is important for a bsiness to

Accepted Answer

define its promtional goals

Question 35

what do owners consider when determining the ceiling prices of their products

Accepted Answer

consumer perceptions and demand

Question 36

What is the purpose of slaes oriented pricing objectives

Accepted Answer

To increase the total amount of sales income

Question 37

Which stage of the prod. life cycle is a business likely to try to stabilize a product's price

Accepted Answer

Maturity

Question 38

By setting marketing objectives, business are specifying

Accepted Answer

what they want to achieve

Question 39

Main purpose for establish a marketing budget

Accepted Answer

control spending

Question 40

an ex. of an effective marketing objective that a business might set

Accepted Answer

Increase profits by 6% next year

Question 41

public service promos often are used to inform consumers about ___ issues

Accepted Answer

noncontroversial

Question 42

Select the following ex. of a business using a flexible pricing policy

Accepted Answer

Lowering prices during bad economic times

Question 43

A newspaper advertises a shoe store donating 100 pairs of shoes the comm. Ex. of

Accepted Answer

publicity

Question 44

Specific time frames must be used when setting amrketing goals and objectives because

Accepted Answer

Kepps the business focused on the goal

Question 45

An internal factors that affects the way a business uses promo tools

Accepted Answer

Price and competition

Question 46

Ads the inform consumers about commitment to recycling materials is an ex of

Accepted Answer

institutial promotion

Question 47

An ad in a mag. journal is an example of what type of advertising

Accepted Answer

product

Question 48

The price function often influences the place function by determining

Accepted Answer

where the product is sold

Entrepreneurship I Competency 5

Questions 48

Entrepreneurship I Competency 5

Questions 48