ELE (Ch 7-8) Exam Questions With 100%
Pass
Marketing information that already exists is called secondary data.
T/F - Answers -✔✔ True
To determine the figures in the budget, the entrepreneur should identify benchmarks or
norms in the industry.
T/F - Answers -✔✔ True
Which form of promotion is too expensive for most entrepreneurs to use?
Radio
Print Ads
TV
Webpage - Answers -✔✔ TV
An assessment of external uncontrollable variables that may impact the business plan is
known as:
an executive summary.
a description of the venture.
an environmental analysis.
a trend analysis. - Answers -✔✔ an environmental analysis.
The marketing mix consists of:
product, price, distribution, and promotion.
product, price, research, and promotion.
product, research, distribution, and promotion.
product, price, distribution, and research. - Answers -✔✔ product, price, distribution,
and promotion.
The depth and detail of a business plan depend on:
the size and scope of the new venture
the amount of capital needed.
the target audience.
the experience of the entrepreneur. - Answers -✔✔ the size and scope of the new
venture
If the new venture is a manufacturing operation a(n) __________ in the business plan is
necessary.
, ownership plan
partnership agreement
production plan
quality control plan - Answers -✔✔ production plan
The management team and the venture's company mission are examples of external
environmental factors.
T/F - Answers -✔✔ False
A focus group should consist of:
**********
14-16 potential customers
18-20 potential customers
10-12 potential customers
6-8 potential customers - Answers -✔✔ 10-12 potential customers
___________ is not one of the main perspectives an entrepreneur should consider
when writing the business plan.
The employee's perspective
The investor's perspective
The marketing perspective
The entrepreneurs own perspective - Answers -✔✔ The employee's perspective
Marketing research begins with:
********
-collecting a list of primary and secondary sources of information.
-definition of objectives or purpose.
-setting the advertising budget.
-identifying direct marketing strategy. - Answers -✔✔ definition of objectives or purpose.
The business plan presentation for potential investors:
-should provide the entrepreneur's own perspective.
-should contain no negative projections.
-should enable the entrepreneur to "sell" his or her business concept in a designated
period of time.
-should be presented only in writing. - Answers -✔✔ should enable the entrepreneur to
"sell" his or her business concept in a designated period of time.
The _________ element of the marketing mix involves decisions as to what is the most
appropriate channel.
price
promotion
distribution
Pass
Marketing information that already exists is called secondary data.
T/F - Answers -✔✔ True
To determine the figures in the budget, the entrepreneur should identify benchmarks or
norms in the industry.
T/F - Answers -✔✔ True
Which form of promotion is too expensive for most entrepreneurs to use?
Radio
Print Ads
TV
Webpage - Answers -✔✔ TV
An assessment of external uncontrollable variables that may impact the business plan is
known as:
an executive summary.
a description of the venture.
an environmental analysis.
a trend analysis. - Answers -✔✔ an environmental analysis.
The marketing mix consists of:
product, price, distribution, and promotion.
product, price, research, and promotion.
product, research, distribution, and promotion.
product, price, distribution, and research. - Answers -✔✔ product, price, distribution,
and promotion.
The depth and detail of a business plan depend on:
the size and scope of the new venture
the amount of capital needed.
the target audience.
the experience of the entrepreneur. - Answers -✔✔ the size and scope of the new
venture
If the new venture is a manufacturing operation a(n) __________ in the business plan is
necessary.
, ownership plan
partnership agreement
production plan
quality control plan - Answers -✔✔ production plan
The management team and the venture's company mission are examples of external
environmental factors.
T/F - Answers -✔✔ False
A focus group should consist of:
**********
14-16 potential customers
18-20 potential customers
10-12 potential customers
6-8 potential customers - Answers -✔✔ 10-12 potential customers
___________ is not one of the main perspectives an entrepreneur should consider
when writing the business plan.
The employee's perspective
The investor's perspective
The marketing perspective
The entrepreneurs own perspective - Answers -✔✔ The employee's perspective
Marketing research begins with:
********
-collecting a list of primary and secondary sources of information.
-definition of objectives or purpose.
-setting the advertising budget.
-identifying direct marketing strategy. - Answers -✔✔ definition of objectives or purpose.
The business plan presentation for potential investors:
-should provide the entrepreneur's own perspective.
-should contain no negative projections.
-should enable the entrepreneur to "sell" his or her business concept in a designated
period of time.
-should be presented only in writing. - Answers -✔✔ should enable the entrepreneur to
"sell" his or her business concept in a designated period of time.
The _________ element of the marketing mix involves decisions as to what is the most
appropriate channel.
price
promotion
distribution
