DEMC1073 QUIZ 4 JANUARY 2024

Franchisee refer to an entrepreneur whose power is limited by the contractual relationship with a franchising organization.

• TRUE

• FALSE

The owner of a small sandwich shop who opens a second location in a town 20 miles away is using market expansion strategy.

• TRUE

• FALSE

Marketing intermediaries may include wholesaler, distributors, and retailer that makes a link between the firm and the customers.

• TRUE

• FALSE

Environmental Protection Law focus that no product has any factors that can lead to harmful diseases, which might cause damage to the consumer, either mental or physical.

• TRUE

• FALSE

Consumer Safety Law helps society and nature from pollution and other harmful components.

• TRUE

• FALSE

Avalda is starting a new business, and he was formed relationship with several successful local business owners. Which of the following is the best way to leverage these relationship to help his own business succeed?

• Gaining inside marketing information

• Sharing those businesses’ content on social media

• Persistently asking those business owner to invest in his company

• Attending trade shows and conferences to make new connections

Tiffanny Company is interested in developing, producing, and selling a new product. Before it does so, the company spends six months conducting marketing research. What are the primary advantages of this course of action?

• To determine customer preferences and minimize losses

• To predict trends and provide information to customers

• To increase costs and determine consumer dislikes

• To delay the production process and increase labor costs

The owner receives all the profits of the business and act quickly in making business decisions when the form of business ownership is a _____.

• sole proprietorship

• partnership

• join venture

• corporation

Economics factors can provide insights into the economic development of your company interested in. Which of following factors NOT present economic risks?

• Interest rate

• Price fluctuations

• County size

• Inflation rate

Establishing a niche market give you the opportunity to provide products and services to a group that other business have overlooked. Which of the following is the advantages when establish in a niche market?

• Reduce competition

• Gaining expertise

• Reducing resources

• Establishing a position