Entrepreneurship Final Review

Which of the following is not one of the four elements in the "Marketing Mix?"

• price

• product

• plan

• promotion

A marketing outlet that obtain goods in large quantities from the manufacturer and resell them to an industrial user is called a ______.

• retailer

• wholesaler

• department store

• discount store

The letters in SWOT analysis stand for _____.

• strengths, weaknesses, opportunities, threats

• services, weaknesses, opponents, transportation

• services, wealth, opportunities, threats

• strengths, wealth, opponents, transportation

An example of a good is?

• haircut

• clothing

• housekeeping

• animal care

_____ is the level of satisfaction associated with a particular good or service.

• quality

• value

• pricing

• perception

Also known as opinion research, _____ determines how people "feel" about products, companies or ideas.

• attitude research

• media research

• qualitative research

• product research

What is the final sales price for a laptop which costs $500 to manufacture if the mark-up percentage is 30%?

• $650

• $530

• $150

• $730

Data which has been previously collected and was not generated specifically is which type of data?

• primary

• secondary

______ is setting an artificially high price in order to create a feeling of status.

• prestige pricing

• cost-oriented pricing

• demand-oriented pricing

• promotional pricing

Which of the following accurately describes the purpose of brands?

• to explain a product's use

• to make a product less difficult to find

• to differentiate one product from its competitors

• to make retailers more knowledgeable and diligent