Test run 2

The only factor to take into consideration when deciding on the location of a business is the visibility factor.

• True

• False

One way of keeping your new product idea protected is to register a patent.

• True

• False

Identifying your target market is not as important as developing a logo for your business.

• True

• False

Inflation is calculated by comparing the price of a specific product, for example, a Luxury LED Television, in a specific month with the price of that same product of the same month, but in the previous year.        

• True

• False

A promotion on one item can have a rollover to purchase other products as well.

• True

• False

Successful entrepreneurs are people who know how to follow orders from leaders.

• True

• False

Gaps in the market appear when a product or service is unavailable; when the demand is higher than the supply, or even when existing products or services are below standard.

• True

• False

By comparing an unfamiliar idea to something more known, a person gets a better understanding of a complex problem or idea. This process is called “Metaphorical analogy”.

• True

• False

When your product or service is more attractive to customers than those of your competitors, it is called marketing research.       

• True

• False

One method of collecting primary data is to conduct surveys.

• True

• False