SEM II Unit 4 Part 2 Review

Which of the following is a factor that businesses often consider when conducting a market analysis:

• Location of the test market

• Size of the market next year

• Safety of the research process

• Design of the questionnaire

Businesses usually analyze market potential for a certain product by considering total demand in a specific

• research sample.

• day of the week.

• geographical area.

• social situation.

When conducting a market analysis, a business considers the total possible demand for a product which is known as the

• market potential.

• sales growth.

• target market.

• supply factor.

One of the purposes of conducting a market analysis is to develop a(n)

• management team.

• distribution plan.

• operating budget.

• customer profile.

As part of its market analysis, the SVM Company estimates the increases in demand for its products over a set time frame for a particular market segment. The SVM Company is attempting to analyze the market's

• size

• growth rate.

• performance

• profitability

Which of the following is an internal strength that a business might identify during a SWOT analysis:

• Limited competition

• Extensive regulations

• Increased expenses

• Financial resources 

SWOT analysis is a technique for summarizing a company's

• strengths, weaknesses, opportunities, and threats.

• skills, workers, organizations, and teams.

• strategy, wholesalers, objectives, and trademarks

• store, warranty, occupations, and tariffs.

What is a potential weakness a manager might identify in a SWOT analysis?

• Competitors failing

• High-quality products

• Lack of management depth

• Low-cost foreign competition

What is a potential threat a manager might identify in a SWOT analysis?

• Economy rebounding

• Growing government regulation

• Weak market image

• Cost advantages

Once a SWOT analysis identifies an internal strength, a business can use that strength to take advantage of a(n)

• operating procedure.

• external opportunity.

• marketing strategy.

• promotional technique.