Business Revision

Someone who sets up a business, taking on a financial risk in the hope for profit is a/an?

• CEO (chief executive officer)

• Entrepreneur

• CFO (chief financial officer)

• Manager

Mortgage is an example of a/an

• Entitlement

• Employment type

• Loan

The group of people most likely to become customers and that is identified for a specific marketing program is the 

• Target Market
• Group
• Customer Profile
• Market Group

Which of the following best describes a target market?

• Close competitors of a business
• The people who buy a business's products
• Groups that do not buy a business's products
• The individuals at whom a business's marketing strategies are aimed

Marketing researchers gather information to find out...

• What consumers want
• How much consumers are paying for a product
• Where products are being sold
• All of these choices

 The process of classifying people who form a given market into even smaller groups are __________________.

• targeting
• market segmentation
• isolating 
• markets

The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers. 

• Marketing
• Market Segmentation 
• Mass Marketing
• Target Market

Is this a good or a service?

• Good
• Service

Surveys are a form of 

• Primary Market Research
• Secondary Market Research

What is a business owned and operated by one person?

• Sole Trader

• Private Limited Company

• Public Limited Company