there is two exams businesssuccess,marketresearch 40question…
07003300 1. Ross Bergen is considering...
Submitted: 12 years ago.Category: Homework
1. Ross Bergen is considering a certain corner location for his
sandwich shop. If he surveys people passing the corner at
lunchtime, which of the following questions will give him the
most useful information?
A. Wouldn't you prefer a fresh sandwich to fast food?
B. Do you prefer turkey or ham on your sandwiches?
C. Would you be interested in a new place to eat lunch?
D. Do you often walk by this corner?
2. Once you've found your target market, your business is on track,
and your customers seem satisfied, ongoing market research
A. be a waste of money.
B. inform you of coming trends.
C. improve your product quality.
D. defeat your business goals.
3. 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 estimate her needs?
A. How much do you spend every week on dog food?
B. How often do you buy dry dog food?
C. Does your dog prefer canned or dry food?
D. How many pounds of dry dog food do you buy each week?
4. Doing personal interviews with holiday shoppers at an indoor mall is an example of
A. primary C. professional
B. secondary D. interpersonal
5. Your repeat customers have made it clear that quality is more important than price.
This reflects your target market's
A. distinguishing characteristics. C. values.
B. buying behaviors. D. demographics.
6. John Chapelle wants to know if his video store customers are interested in a selection of
classic, black-and-white movies. How could John simplify his survey to get them to fill out
his short questionnaire before they leave the store?
A. Make short blank lines to fill in.
B. Include only two questions, although they'd be long.
C. Ask open-ended questions.
D. Provide check boxes for each choice.
7. Cheryl Adams is having trouble defining her target market for the bookstore she's opening
in her town, which is home to a small college, a retirement community, and a year-round
tourist industry. By deciding to hire a marketing firm to handle the research, Cheryl will
A. ruin her budget because of the expense.
B. save more money than she spends on the professional research.
C. miss opportunities she might have taken a chance on.
D. learn a lesson to go with her hunches.
8. After collecting 217 completed questionnaires and reviewing the results, you find you're
no closer to deciding on a location than you were before. Chances are it's because your
A. did not provide clear, measurable choices.
B. were too persuasive.
C. did not reach a large enough sample.
D. reached the wrong target group.
9. Which of the following is an example of secondary research?
A. Conducting trial-and-error testing
B. Observing reactions to free samples
C. Gathering statistics online
D. Hiring a marketing firm
10. An effective way to encourage people to return a mail questionnaire quickly is to
A. print a bold deadline at the top.
B. connect it to some cause they're interested in.
C. offer a discount coupon to the first 100 who return it.
D. ask fewer than 20 questions.
11. Specific data such as age, income, family size, and occupation, used for marketing
purposes, is called
A. the target market. C. a secondary market.
B. demographics. D. survey statistics.
12. When you ask a customer the average dollar amount he spends on clothing, how often he
shops, or which stores he prefers, you're researching
A. secondary statistics. C. customer values.
B. buying behaviors. D. demographics.
13. One of the keys to writing a successful questionnaire is to
A. ask exactly what you need to know.
B. use clever questions that hide your true motives.
C. provide multiple-choice answers for each question.
D. ask yes or no questions.
14. Adam Kane wants to sell office supplies to as many customers as possible, in as many
markets as possible. His plan is
A. the best way to succeed.
B. a proven way to maximize his profit margin.
C. a time-consuming way to find his target market.
D. a poor market strategy.
15. Gemma's music store is doing well, but her goal is to improve customer satisfaction.
In order to do so, she should
A. lower her prices.
B. improve the quality of her products.
C. track her sales carefully.
D. understand her customers' values.
16. Mansee Patel is doing research before opening a store specializing in traditional Indian
clothing. In order to locate her target market, she should study
A. fashion trends. C. business values.
B. overall buying behaviors. D. demographics.
17. If you primarily sell false noses, wigs, and polka-dot jumpsuits to professional clowns,
except for once a year, when children buy your products to wear at Halloween, the children
A. minor clientele. C. annual consumers.
B. secondary target market. D. primary target market.
18. West Side Medical Supply is in trouble. In the past two years, Fred Schultz, the owner,
suddenly lost 26 percent of his business when two drugstores and a local hospital closed.
He missed a big opportunity when his competitor got a contract at a new nursing home
before Fred even knew it was being built. Fred needs to
A. better understand his customers' values.
B. sell to the public instead of to other
C. do continuous research on demographic changes.
D. improve his overall customer service.
19. One of the biggest problems with telephone surveys is that
A. people often refuse to participate.
B. the cost is higher than other methods.
C. they're too impersonal.
D. it takes too long to collect the results.
20. As Jake began his market research, he discovered that there wasn't another retail boating
supply business for more than 100 miles. In fact, there was no large lake or river, either.
Jake concluded that
A. the competition gave up too soon.
B. there was no market for his product.
c. he would have to offer lower prices.
D. his marketing should stress quality and service.
1. A great business idea is
A. all you need to succeed.
B. something that comes along once in a lifetime.
C. an idea that no one else has ever thought of.
D. the beginning of a great business.
2. What percentage of new businesses fail in the first year?
A. 25 percent
B. 40 percent
C. 60 percent
D. 75 percent
3. The price for predictability is often
A. stress and insecurity.
B. long hours.
C. increased self- confidence.
D. long- term boredom.
4. The best way to avoid cash flow problems is
A. regular saving.
B. constant marketing.
C. borrowing less.
5. What is one of the advantages of buying an existing business?
A. Is track record lets you know what to expect.
B. You can get it at a bargain price.
C. the previous owner will help you fund the business.
D. You don't need to do any more advertising.
6. One of the unexpected drawbacks of starting ypur own business is
B. free time.
D. lack of purpose.
7. Which of the following is an example of a franchise?\
A. Branson, Manson, & Hanson law office
B. Radio Shack
C. Main St. Car Wash
D. sam's Club
8. Which of the following is an essential part of being an entepreneur?
A. Being friendly
B. Having a lot of money
C. Taking risks
D. Being an expert in your field
9. One of the main disadvantages of buying a franchise is that you may end up
A. feeling like an employee.
B. paying too muvk for operating costs.
C. choosing a poor location.
D. hiring a large staff.
10. The Freedom of working for yourself is necessarily limited by
A. the needs of your family and friends.
B. your own skills and abilities.
C. what your manager tells you to do.
D. your local competitors.
11. Typically, enterprenreurs don't like to be told what to do because
A. they're stubborn by nature.
B. it takes a big ego to run a business.
C. they have so many ideas of their own.
D. they have problems with authority figures.
12. How will you save money by buying a franchise?
A. Franchises require less investment than new businesses.
B. Your employees will be paid by the corporation.
C. You can get a volume discount on your products.
D. You won't have to advertise.
13. Why are many entrpreneurs uncomfortable on a relaxing vacation?
A. They have a sence of urgency about their ideas.
B. They don't get along well with others
C. They're only comfortable if they're competing.
D. they're obsessive and can't think of anything else but work.
14. Which of the following is an advantage of starting a new business?
A. You don't have to reinvent the wheel.
B. You have the security of following in someone else's footsteps.
C. You can expect a regular paycheck.
D. You don't have to compensate for someone else's mistakes.
15. Asking yourself "What can I do to build a loyal customer base?" is an example of
D. botXXXXX XXXXXne.
16. One of the advantages pf starting your own business is
A. free time.
B no hassles.
C. lack of responsibilty.
17. What is the failure rate for a franchise?
A. 50 percent
B. 30 percent
C. 15 percent
D. 5 percent
18. Of these types of businesses, which one requires the most drive and motivation?
A. A franchise
B. A partnership
C. A new business
D. An existing business
19. The numbe one reason for the failure of new businesses is
A. poor management.
B. taking too many risks.
C. insufficient cash.
D. poor marketing.
20. Of all new businesses, how many make it through their second year?
A. 80 percent
B. 60 percent
C. 50 percent
D. 20 percent