ENT II 2.01-2.03 Part 1

What will exist if there is a real market opportunity?

• Competitor

• Supply

• Demand

• Charge

A business conducts research so it can analyze market needs, which often includes which activity?

• Selecting promotional media

• Developing new products

• Identifying trends

• Hiring employees

Why do businesses often try to develop a unique positioning concept for a new product?

• To identify innovative objectives

• To monitor its growth stage

• To create an original marketing plan

• To set it apart from competitors

Which is a characteristic of a good brand name?

• Nondistinctive

• Similar to competitor's brands

• Memorable

• Needs periodic revision

A business that offers the best service in the industry usually has which attribute?

• Social environment

• Diverse culture

• Competitive advantage

• Trade perception

The ultimate objective of the business in using brand names or slogans is to achieve which goal?

• Create awareness

• Encourage sales

• Obtain a sponsor

• Identify the retailer

Which is the most important question that a business considers when positioning its products?

• What is the target market's financial liability and risk level?

• Does the product have at least three hidden features?

• What product benefit does the target market find most appealing?

• How do our competitors forecast their sales for similar products?

Corporate branding provides a variety of products and product lines with which common factor?

• Ranking

• Platform

• Identity

• Strategy

Businesses position products by sending marketing signals to influence customers' perceived satisfaction of these products. These marketing signals come from which components?

• Selection, service, and convenience

• Advertising media, sales promotions, and packaging

• Product features, competitors, and labels

• Personal selling, convenience, and quality

Communicating the core values of products is an effective way to perform which activity?

• Explain the price structure

• Reinforce a business image

• Analyze the sales operation

• Create a distribution channel