ENTREP 122 Week 20 QE 45/50

Designed to meet the company's marketing objectives by providing its customers with value.
Answer:
Marketing Strategy
Question 2
Include cash, accounts receivable, inventory and equipment.
Select one:
a. Expenses
b. Liabilities
c. Assets✔✔✔
d. All of the answers correct
Question 3
The income statement is designed to convert the accrual basis of accounting used to prepare the income
statement and balance sheet back to a cash basis.
Select one:
a. False✔✔✔
b. True
Manpower is fundamental in establishing the proper policies, leadership, clear guidelines, work discipline,
effective solution methods plus the proper work culture.
Select one:
a. True
b. False✔✔✔
The balance sheet provides a snapshot of the business's assets, liabilities and owner's equity for a given time.
Select one:
a. True✔✔✔
b. False
A low-cost vendor is your best bet.
Select one:
a. True✔✔✔
b. False
Your inability to select, recruit, hire and retain the proper people, with the skills and abilities to do the job you
need to have done, is more important than everything else put together.
Select one:
a. False✔✔✔
b. True
The marketing mix can be divided into four groups of variables commonly known as the four P's.
Select one:
a. False
b. True✔✔✔
By definition, financial projections are estimates of the future financial performance of a business.
Select one:
a. False
b. True✔✔✔
What you plan to sell, and what will convince people to buy.
Select one:
a. Operating model
b. Gross margin model
c. Working capital model
d. Revenue model✔✔✔
To succeed, you need to know this about your brand.
Answer:
Perception
The best suppliers will want to talk with you regularly to find out what needs you have and how they can serve
you better.
Select one:
a. True✔✔✔
b. False
Includes all the costs related to the sale of products in inventory.
Select one:
a. Income
b. Cost of goods✔✔✔
c. Gross profit margin
d. Operating expenses
Reward your followers with something special and exclusive
Select one:
a. Be interesting, and give
b. Ask, do not tell
c. Be interested, and respond
d. Have a payoff, and say thank you✔✔✔
If you need to choose a great brand name for your product, service or business, start by considering the
importance of the name in this.
Answer:
Branding efforts
All material needed to clean and package are always available and are placed to minimize effort.
Select one:
a. False
b. True✔✔✔
Most customers think of you in terms of a single attribute, either positive or negative.
Answer:
Attribution Theory
A credit check will help reassure you that they will not go out of business when you need them most.
Select one:
a. False
b. True✔✔✔
A series of steps that includes the conceptualization, design, development and marketing of brand new or
nearly branded products or services.
Answer:
Product Development
The Fourth P in the marketing mix is the place where your product or service is actually sold.
Select one:
a. False
b. True✔✔✔
A bookkeeper must meet with department supervisors and other managers to discuss budget needs and
inventory demands.
Select one:
a. Administration
b. Office Communication✔✔✔
c. All of the answers correct
d. Accounting
The technical equipment or machinery needed for a particular activity or purpose.
Answer:
Apparatus
Recognize that place goes beyond geographic location.
Select one:
a. Define the promotional techniques that you will use for the product
b. Describe the targeted audience for the product
c. Identify the place where the product will be marketed✔✔✔
d. Define the Unique Selling Proposition (USP) for the company.
A document that records a business dealing.
Answer:
Business record
The set of controllable, tactical marketing tools that a company uses to produce a desired response from its
target market.
Answer:
Marketing Mix
A stock or any other security representing an ownership interest.
Answer:
Equity
The process of assessing the viability of a new good or service through research conducted directly with the
consumer that allows a company to discover the target market and record opinions and other input from
consumers regarding interest in the product.
Answer:
Market Research
Protects the business in the event of litigation.
Select one:
a. Liability insurance✔✔✔
b. Financial plan
c. Business plan
d. Balance sheet
Hear the conversation first, and then participate.
Select one:
a. Listen, do not just talk✔✔✔
b. Ask, do not tell
c. Be real, and have a story
d. Be interesting, and give
This figure represents the amount of income earned by the business before paying taxes.
Select one:
a. Net profit before taxes✔✔✔
b. Costs of goods sold
c. Operating expenses
d. Net profit after taxes
The goal is developing an exchange. Force your opinion and you will end conversations before they begin.
Select one:
a. Be interesting, and give
b. Ask, do not tell✔✔✔
c. Be real, and have a story
d. Listen, do not just talk
Designed to meet the company’s marketing objectives by providing its customers with value.
Answer:
Marketing Strategy
Most customers think of you in terms of a single attribute, either positive or negative.
Answer:
Attribution Theory
The most successful companies pick this from which they know their brands can win.
Answer:
Competitive Position
A good, idea, method, information, object or service created as a result of a process and serves a need or
satisfies a want.
Select one:
a. Income
b. Product✔✔✔
c. Branding
d. Place
Add to the conversation by offering up whatever knowledge you have.
Select one:
a. Ask, do not tell
b. Be interesting, and give✔✔✔
c. Listen, do not just talk
d. Be real, and have a story
Provides a snapshot of the business's assets, liabilities and owner's equity for a given time.
Answer:
Balance Sheet
After you choose your great brand name, you can create your logo and this.
Answer:
Corporate Identity
Includes all the ways you tell your customers about your products or services and how you then market and
sell to them
Select one:
a. Advertisement
b. Production
c. Convergent
d. Promotion✔✔✔
Refers to method companies use to price their products or services.
Answer:
Pricing
Things that change based on the amount of product being made and are incurred as a direct result of producing
the product.
Answer:
Variable Cost
A specific, defined series of activities used in marketing a new or changed product or service, or in using new
marketing channels and methods.
Answer:
Marketing Campaign
A straightforward product design is essential.
Select one:
a. False
b. True✔✔✔
It is important to develop this before you start the naming process.
Answer:
Brand Strategy
Shows the company's real bottom line.
Select one:
a. Income
b. Net profit after taxes✔✔✔
c. Operating expenses
d. Cost of goods
The marketing of goods or services by means of telephone calls, typically unsolicited, to potential customers.
Answer:
Telemarketing
Fundamental in establishing the proper policies, leadership, clear guidelines, work discipline, effective solution
methods plus the proper work culture.
Answer:
Management
A written report of the financial condition of a firm.
Answer:
Financial Statement
Designed to convert the accrual basis of accounting used to prepare the income statement and balance sheet
back to a cash basis.
Answer:
Cash-flow Statement
The investigation of the needs and opinions of consumers, especially with regard to a particular product or
service.
Answer:
Market Research