SBM Ch. 5 & 6 Mid-Term Review

Home Depot and Lowe's home improvement stores are examples of which type of competition?

The main purpose of market segmentation is to decide where a new business should be opened.

A sole proprietor may be required to file for which of the following?

Franchisors dictate what products and services a franchise can sell.

A partnership carries the risk of:

People with a HS education may have different needs/wants than someone with a doctoral degree.

Public corporations are not required to release information about their sales or profits.

All of the following items are psychographic segmentation variables except:

In partnerships, the ownership between the partners is always equal.

Competitive analysis is another term for SWOT analysis.

Shared risks, easy setup, and joint strengths are advantages of a(n),

Businesses cannot incorporate in a state in which they do not have a physical location.

The process of collecting, analyzing, and reporting market research info make up a:

Values are what a person believes in and are part of ___ segmentation.

Common types of primary research include surveys, interviews, and observations.

One of the advantages of a family-owned business is:

Which of the following is not a disadvantage of a partnership?

Which of the following is not an advantage of buying a franchise?

US census data can help businesses learn which of the following about their target markets?

A corporation is a legal entity.

Which of the following is not an end result of marketing research?

Qualitative data are primary data that consists of facts and figures.

Primary data are inexpensive, simple to gather, and can be gathered by a 3rd party.

The process of buying a franchise begins with the completion of a franchise application.

All businesses are monitored by the:

What type of competition is based on the features or benefits of a product or service?

The company that sells the rights of a franchise is the:

Secondary data are:

A customer who insists on buying only Apple computers is an example of which of the following?

Family members in a family business tend always to share the same work ethic.

Customers should not be targeted according to their ethnic group or culture.

Records and procedures that a corporation is required by law to complete are referred to as:

The tax benefits of a partnership are similar to those of a corporation.

One advantage of a corporation is that the company has perpetual life.