AKS7 - Competitive Analysis Quiz

Direct competitors are...

• Businesses that sell a similar product or service to yours.

• Businesses that sell a unfamiliar product or service to yours.

• Businesses that sell only products or services to other businesses.

• Businesses that sell a similar product or service to wholesalers.

Businesses that sell a different product or service, but that still fill the same customer need or want, are your indirect competitors

• True

• False

As you obtain new data through market research, you should update and expand your...

• Target Market

• Customer Profile

• Competitive Matrix

• SWOT analysis

Market share is...

• the percentage of a customer profile that is buying a particular product or service from your business.

• the percentage of a business that is buying a particular product or service from your business.

• the percentage of a target market population that is buying a particular product or service from your business.

• the percentage of a retailer that is buying a particular product or service from your business.

Market share is calculated as:

• Total Sales ÷ Total Market Size = Market Share Percentage

• Total Target Market ÷ Total Market Segment = Market Share Percentage

The global economy is the flow of goods and services around the world.

• True

• False

Exporting is a business activity in which goods and services leave a country to be sold to national consumers.

• True

• False

Importing is a business activity in which goods and services enter a country from foreign suppliers.

• True

• False

A ___________________ is a governmental restriction on international trade.

• import

• tariff

• export

• trade barrier

A ______________________ is a fee, similar to a tax, which must be paid by importers on the goods they import.

• tariff

• import

• export

• foreign exchange