Entrepreneurs Quiz

What is the main goal of market research?

• a) Increasing production efficiency

• b) Identifying customer needs and preferences

• c) Minimizing competition

• d) Maximizing shareholder wealth

What does the term "Unique Selling Proposition (USP)" refer to?

• a) Product pricing strategy

• b) Identifying a distinctive feature that sets a product apart

• c) Market segmentation

• d) Supply chain management

Which of the following is not considered a marketing channel?

• a) Social Media

• b) Television Advertising

• c) Customer Service Hotline

• d) Product Packaging

What is the customer acquisition cost (CAC)?

• a) The cost of goods sold (COGS)

• b) The total revenue generated from a customer over their lifetime

• c) The cost of customer service

• d) The cost of acquiring a new customer through marketing and sales efforts

What is the primary purpose of using hashtags in social media marketing?

• a) To indicate the end of a post

• b) To increase character count in a post

• c) To categorize content and enhance discoverability

• d) To encrypt the content for privacy reasons