ISFORM Online Midterm Exam

What is the primary goal of market segmentation?

• Generating new product ideas
• Identifying target customer groups
• Creating a diverse workforce
• Increasing operational efficiency

Which of the following Sustainable Development Goals (SDGs) is associated with industry and innovation?

• SDG 5
• SDG 9
• SDG 11
• SDG 13

Which term refers to the process of separating a target market into distinct groups based on characteristics or behaviors?

• Pricing Strategies
• Market Segmentation
• Competitive Landscape
• Consumer Reviews

What does CAGR stand for?

• Central Agency for Global Research
• Compound Annual Growth Rate
• Consumer Average Growth Ratio
• Competitive Analysis for Global Revenue

In the context of entrepreneurship, what does ROI stand for?

• Return on Investment
• Reach of Influence
• Revenue of Innovation
• Risk of Involvement

Why is it important for businesses to analyze competitive landscapes?

• To make competitors' strategies visible
• To copy successful strategies
• To eliminate competition
• To lower product prices

How does market segmentation benefit businesses?

• By targeting a broad audience
• By reducing product variety
• By tailoring marketing efforts to specific customer groups
• By avoiding the need for market research

Why is sustainability important in product design and testing?

• To increase production costs
• To minimize environmental impact
• To speed up product development
• To avoid market research

What is the primary objective of generating innovative ideas?

• To reduce product variety
• To confuse consumers
• To increase waste
• To create value for the market

How does adaptability relate to strategic thinking?

• It slows down the decision-making process
• It is not relevant to strategic thinking
• It allows for adjustments in response to change
• It eliminates the need for long-term planning