
ENTR 302 Chapter 7: Developing Your Customers
Authored by Beverly Fleischman
Business
University
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18 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
A consumer is different from a customer because unlike a customer, a consumer ______.
pays for a product or service
uses a product or service
makes repeat purchases of a product or service
remains loyal to a particular company
2.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
Which describes an example of a market?
the vendors who rent space to sell products at the antique store
the number of people who visit an antique store
people who visit an antique store looking for vintage products to buy
an antique store that rents booth space to people selling antiques
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which of the following is true of what makes up a market?
It includes both supply and demand.
It is a physical space.
It needs both customers and consumers to exist.
It provides many different products for consumers.
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Josiah would like to buy a new vacuum. While searching, he looks at online reviews of vacuums to determine which one will best fill his needs. What is this an example of?
a customer referencing other customers
a large demand for vacuums
a small supply of vacuums
a group of vacuum consumers
5.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
An entrepreneur recognizes many people are interested in buying a specific product. What does this likely indicate?
a low demand
a low supply
a market opportunity
a product application
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the most challenging aspect of identifying and developing a new product or service for the market?
determining that there is a large enough market for the product
discovering the market opportunity for the product or service
deciding on what the new product or service will be
finding potential customers for the new product or service
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Saad has more than 1 million followers on TikTok, where he produces funny videos and occasionally promotes his favorite products, like a computer mouse he uses to play online games. Which is true about Saad?
He is a form of economic buyer.
He acts as a decision maker for his followers.
He is helping companies refine their message to end users.
He would be considered a type of opinion leader.
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