ENTREPRENUERIAL ODYSSEY

• What should you include in your competitor analysis?

• Pricing and quantity

• Pricing, quality and marketing strategies

• Quantity and Quality

• Marketing Strategies

Which is the best way to improve your understanding of what consumer want?

• Consistently research on the market

• Keep track on competitors

• Get feedback from consumers

• Collaborate with industry experts

What does the acronym USP stand for in the context of marketing?

• Universal Selling Point

• Unique Selling Point

• Ultimate Sales Promotion

• Unprecedented Service Provider

Which of the following is NOT an example of a potential USP for a product or service?

• Competitive pricing

• High-quality materials

• 24/7 customer support

• Free shipping

Jordan would like to bake a cake but realized he is out of milk. Which of the following stages of the consumer decision making process is this an example of?

• Need Recognition

• Information Search

• Evaluation of Alternatives

• Purchase Decision

Which of the following is not part of the buyer decision proocess?

• Information Search

• Evaluation of Alternatives

• Post Purchase Evaluation

• All of the other answers are part of the buyer decision process

Which of the following steps of the consumer decision making process involves comparing the product to expectations and deciding whether it is satisfying or dissatisfying?

• Evaluation of Alternatives

• Post-purchase evaluation

• Information search

• Need Recognition

What should a S.M.A.R.T. Goal be?

• Flexible and malleable

• It should be specific

• Easy to achieve

• Based on others’ expectations

What is not S.M.A.R.T.?

• Actionable

• Reliable

• Measurable

• Time-bound

What is the correct order of the 4Ps?

• Price, Product, Place, Promotion

• Promotion, Price, Product, Place

• Product, Price, Pony, Promotion

• Product, Price, Place, Promotion