Entrepreneurship I Objective 4.0 Review

Question 1

Choose a way a business chain can ensure that customers remember its name..by developing one

Accepted Answer

easy to read and pronounce

Question 2

A business that emphasizes a product's environmental friendliness is positioning the product by

Accepted Answer

attributes

Question 3

Managers use the broad objectives they develop for a business as the basis for setting..

Accepted Answer

performance targetsq

Question 4

Before identifying your company's USP, ask yourself if

Accepted Answer

you already have one without realizing it

Question 5

A business plans to increase production by 20% over a 5 year period is what type of management?

Accepted Answer

developing objectives

Question 6

Which is the most effective mission statement?

Accepted Answer

We create happiness by providing the finest entertainment

Question 7

Which of the characteristics describe a meaningful company objective:

Accepted Answer

measurable

Question 8

How do you guard your USP from competitors?

Accepted Answer

repeat it as much as possible

Question 9

Which factor helps a business to determine its product mix:

Accepted Answer

size and target market

Question 10

The product mix that a business decides to offer customers helps project a business's

Accepted Answer

unique image

Question 11

One way for a business to expand its product mix is by

Accepted Answer

acquiring another company

Question 12

Bobby chose a name and designed a website for his business, he should make sure the name is

Accepted Answer

unique and available

Question 13

Can any brand name be selected and used by a business?

Accepted Answer

No, the name must be legally available for use

Question 14

Which one is a characteristic of pure services?

Accepted Answer

Does not include a tangible product

Question 15

A business decides to add a group of related items to its product mix is called..

Accepted Answer

line extension

Question 16

An effective mission statement should effectively reflect the business's

Accepted Answer

core values

Question 17

When considering new products, you only share it with 5 states for 3 months-this is called what

Accepted Answer

test marketing

Question 18

When a business emphasizes a product's degree of excellence, it positions the product by

Accepted Answer

consumers

Question 19

What does effective product/service management help businesses do?

Accepted Answer

compete

Question 20

While taking into consideration specific services being offered to customers, determine if it

Accepted Answer

enhances customer satisfaction levels

Questions 20