Entrepreneurship Chapter 7

Companies that sell to other companies are called

• B2C

• B2B

• C2B

• C2C

Which of the following is a source for gathering secondary data?

• questionnaire

• mass mailing

• telephone survey

• US Census data

Which of the following is NOT a source for gathering secondary data?

• focus group

• Census Bureau

• Chamber of Commerce

• Entrepreneur Magazine

Carrying capacity indicates

• the growth potential for a business entering a particular industry

• the maximum number of market segments

• the buying patterns for a particular market

• the limitations of a particular method of market research

To understand a particular market, you need to research

• the business environment

• individual consumers or businesses

• the competition

• all of these are correct

To send a mailing to potential customers, you would buy names from a

• secondary data source

• list-rental company

• customer profile

• primary data source

What is the first step an entrepreneur would take to research a potential business opportunity?

• determining research methods and sources

• identifying research objectives

• gathering research data

• determining carrying capacity

How do you organize market research data?

• create a competitive matrix of indirect competitors

• group indirect competitors by demographics

• create a grid that compares the characteristics of three or four direct competitors

How do you analyze market research data?

• compare competitors' characteristics

• identify potential differentiators

• compare strengths and weaknesses

• you do all of these

Which of the following is NOT a potential differentiator?

• mix of products

• selling method

• carrying capacity

• unique service