Need assistance with PF Exam 986113, the multiple choice questions are below.
Here is the Business Plan Lesson Study Guide >>1. Before setting your prices, it's wise to - ignore your competitors' prices. - memorize the formula for cost plus. - subtract your profit margin from your costs. - research industry standards.2. Financial papers included with your business plan before your company is open for business are called - pro forma statements. - financial analyses. - curriculum vitae. - curriculum vitae - mission statements.
3. Charles Zimmerman owns an acre of swampy land just off the interstate. He would like to pave the surface and build a gas station and truck stop on the lot. While doing research for his business plan, he will want to pay special attention to A. oil company advertising. B. legal and regulatory requirements. C. Commerce Business Daily. D. management issues.
4. If your research uncovers a surprising growth trend in your industry, you'll have to revise the _______ section of your business plan. A. market profile B. processes C. operating plant D. demographics
5. Local zoning laws, EPA regulations, and municipal permits or registrations are requirements to be researched and listed in the _______ portion of your business plan. A. introductory B. operating plant C. industry D. financial
6. What is the best way to put together a business plan? A. Concentrate on the section that you know most about. B. Prepare the introduction and overview first so you have some direction. C. Develop the plan as a whole so that it's unified. D. Give your full attention to each section, without distraction.
7. Before you decide whether to use the cost plus model, it's important to thoroughly research A. buying behavior in similar industries. B. your industry's going rate. C. competitors' operating processes. D. profit margins in neighboring states.
8. What is meant by the phrase "charging whatever the market will bear"? A. Customers believe that higher prices mean better quality. B. Your price can't be more than customers are willing to pay. C. You have to undercut your competition. D. You should keep raising prices until business drops off.
9. Because of its importance in summarizing your strategy, the Introduction and Overview of your business plan should be A. lengthy and detailed. B. written before you begin your research. C. repeated in a cover letter. D. written last.
10. Calvin and Liz have summarized several lengthy research items for their business plan. In case an investor wants more details on the research, they've also included A. their mission statement. B. autobiographies and résumés. C. their business goals. D. a file of price quotes and survey results.
11. When should you write the introduction and overview portion of your business plan? A. Last, so all of the most important points are included B. In a very detailed, wordy style C. Well in advance of the rest of the plan D. Just before listing the business information
12. Sarah and Stephanie are determined to make their business plan look as professional as possible. In order to make sure it's organized and presented correctly, they've decided to A. focus on their anticipated profit margin. B. buy a software program made for the purpose. C. hire a reliable attorney to look it over. D. do extra research on their target market.
13. When Jack Cooper started his excavating service, his business plan mentioned his only competitor as "a kid with an old dump truck." Three years later, Jack was in financial trouble and the "kid" bought him out, proving the importance of A. taking your competition seriously. B. forming a corporation. C. choosing the right location. D. planning for bankruptcy.
14. The main purpose of writing a business plan is to A. inform employees of your business philosophy. B. have a document to file with your incorporation papers. C. prepare a "blueprint" for the development of your business. D. meet a state requirement for new businesses.
15. Lindsey Birch is planning a van service to transport large or unmanageable pets to their veterinarians. In the Business Information section of her business plan, she writes that she believes her service will succeed because A. it will solve a problem. B. cats are generally difficult creatures. C. it's a creative idea. D. her competition is clueless.
16. You've begun a Web search for information on several suppliers you're considering for your business. Which of the following do you expect will have the most accessible information for your research? A. A small, family-owned company B. A sole proprietorship C. A local business D. A publicly held company
17. Lawrence Masters submitted his business plan to a potential investor, but was disappointed when he was quickly turned down. Chances are, Lawrence failed to capture the investor's attention because of a poorly written A. financial plan. B. business outline. C. overview. D. profit projection.
18. Information such as parking issues, choice of location, and specialized equipment should be included in the _______ portion of your business plan. A. financial plan B. operating plant End of exam C. overview D. business information
19. The supporting document portion of your business plan should contain résumés of the owners, letters from lenders, and A. inventory information. B. staffing requirements. C. letters of reference. D. operating processes.
20. Business Plan/Legal Software, Plan Magic Business, and Ultimate Business Planner are software programs designed to help you A. learn the basics of using a library. B. research your business plan. C. set up a pricing structure for your products. D. determine the basic structural elements of your business plan.
Can you also help me with another?1. One of the biggest problems with telephone surveys is thatA. it takes too long to collect the results.B. the cost is higher than other methods.C. they're too impersonal.D. people often refuse to participate.2. One drawback of a personal marketing survey is thatA. it results in a low response rate.B. respondents may misinterpret questions.C. the response time if rather long.D. answers may be influenced by the interviewer.3. An effective way to encourage people to return a mail questionnaire quickly is toA. print a bold deadline at the top.B. connect it to some cause they're interested in.C. ask fewer than 20 questions.D. offer a discount coupon to the first 100 who return it.4. Information gained by applying someone else's survey information to your business is calledA. demographic research.B. secondary research.C. potential customer sourcing.D. competitor's edge.5. One of the keys to writing a successful questionnaire is toA. ask exactly what you need to know.B. provide multiple-choice answers for each question.C. use clever questions that hide your true motives.D. ask yes or no questions.6. Franchise statistics, national and local business growth rates, and other industry information specific toyour field is easily obtainable through aA. marketing expert or agency.B. market research booklet.C. personal interview.D. mail survey.7. A computerized spreadsheet program is useful forA. sorting and charting data from surveys.B. conducting primary research.C. keeping information confidential.D. preparing telephone surveys.8. John Chapelle wants to know if his video store customers are interested in a selection of classic, blackand-white movies. How could John simplify his survey to get them to fill out his short questionnaire beforethey leave the store?A. Provide check boxes for each choice.B. Include only two questions, although they'd be long.C. Make short blank lines to fill in.D. Ask open-ended questions.9. Once you've found your target market, your business is on track, and your customers seem satisfied,ongoing market research canA. inform you of coming trends.B. be a waste of money.C. defeat your business goals.D. improve your product quality.10. Ross Bergen is considering a certain corner location for his sandwich shop. If he surveys people passingthe corner at lunchtime, which of the following questions will give him the most useful information?A. Would you be interested in a new place to eat lunch?B. Do you prefer turkey or ham on your sandwiches?C. Wouldn't you prefer a fresh sandwich to fast food?D. Do you often walk by this corner?11. The owner of Fido's Pet Supplies wants to know how much dry dog food to stock in her new location.On her customer questionnaire, which of the following questions would be most likely to help her estimateher needs?A. How many pounds of dry dog food do you buy each week?B. How much do you spend every week on dog food?C. How often do you buy dry dog food?D. Does your dog prefer canned or dry food?12. Questions about appearance, performance, quality, and price reflect the _______ of a potentialcustomer.A. education levelB. valuesC. income levelsD. loyalty13. A business structure that operates on a pyramid scheme, making money from recruiting more and moredistributors, is known asA. multilevel marketing.B. focus marketing.C. primary researching.D. professional marketing.14. What is one of the drawbacks of an Internet-based survey?A. It has a slow turnaround for responses.B. Only those interested in your field will respond.C. The participants have no confidentiality.D. It doesn't reach a wide number of people.15. West Side Medical Supply is in trouble. In the past two years, Fred Schultz, the owner, suddenly lost26 percent of his business when two drugstores and a local hospital closed. He missed a big opportunitywhen his competitor got a contract at a new nursing home before Fred even knew it was being built. Fredneeds toA. do continuous research on demographic changes.B. better understand his customers' values.C. improve his overall customer service.D. sell to the public instead of to other businesses.16. When you ask a customer the average dollar amount he spends on clothing, how often he shops, orwhich stores he prefers, you're researchingA. customer values.B. buying behaviors.C. secondary statistics.D. demographics.17. Doing personal interviews with holiday shoppers at an indoor mall is an example of _______ research.A. secondaryB. interpersonalC. professionalD. primary18. Which of the following is an example of secondary research?A. Conducting trial-and-error testingB. Observing reactions to free samplesC. Hiring a marketing firmEnd of examD. Gathering statistics online19. Information regarding income levels, education, occupation, and ethnic groups in your target market iscalledA. demographics.B. secondary research.C. advertising information.D. product-based research.20. Adam Kane wants to sell office supplies to as many customers as possible, in as many markets aspossible. His plan isA. the best way to succeed.B. a proven way to maximize his profit margin.C. a poor market strategy.D. a time-consuming way to find his target market.
1. D. people often refuse to participate.2. D. answers may be influenced by the interviewer.3. D. offer a discount coupon to the first 100 who return it.4. B. secondary research.5. A. ask exactly what you need to know.6. A. marketing expert or agency.7. A. sorting and charting data from surveys.8. A. Provide check boxes for each choice.9. A. inform you of coming trends.10. A. Would you be interested in a new place to eat lunch?11. A. How many pounds of dry dog food do you buy each week?12. B. values13. A. multilevel marketing14. B. Only those interested in your field will respond.15. A. do continuous research on demographic changes.16. B. buying behaviors.17. D. primary18. D. Gathering statistics online19. A. demographics.20. C. a poor market strategy.
Now, I need help with: http://www.mediafire.com/?d21nii5sngr38g5The study guide for this is at: http://tinyurl.com/cjn8mbfThank you.
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