Fill in the Blank. Intro to Entrepreneurship. Definitions. U1-3

Fill in the blank: Promotion is the publicization of a product, organization, or venture so as to increase ________ or public awareness.

• sales

• expenses

• losses

• inventory

Answer explanation

Promotion aims to increase sales or public awareness of a product or organization. The correct choice is 'sales' as it directly relates to the goal of promoting a product.

Fill in the blank: Marketing is the process of designing, positioning, promoting and distributing a product or service in such a way that consumers see ________ in it.

• value

• cost

• difficulty

• risk

Answer explanation

The correct choice is 'value' because marketing aims to create a perception of value in the minds of consumers, making them more likely to purchase the product or service.

Tangible means ________ by touch.

• perceptible

• invisible

• imaginary

• intangible

Answer explanation

Tangible refers to something that can be perceived by touch, making 'perceptible' the correct choice. The other options, such as 'invisible', 'imaginary', and 'intangible', imply a lack of physical presence.

Fill in the blank: Intangible means unable to be touched or ________; not having physical presence.

• grasped

• seen

• heard

• smelled

Answer explanation

The term 'intangible' refers to something that cannot be physically touched or 'grasped'. While it can also refer to things that cannot be seen, heard, or smelled, 'grasped' is the most fitting choice in this context.

Fill in the blank: Concept is an ________ or intention.

• idea

• object

• action

• place

Answer explanation

The correct choice is 'idea' because a concept represents a mental construct or intention, which aligns with the definition of an idea. The other options do not accurately describe the nature of a concept.

Capitalize means take the chance to gain ________ from.

• advantage

• loss

• risk

• failure

Answer explanation

To capitalize means to take the chance to gain an advantage. The term implies leveraging opportunities for benefit, making 'advantage' the correct choice, while 'loss', 'risk', and 'failure' do not fit this context.

Indispensable means absolutely necessary. Fill in the blank: Indispensable means absolutely ________.

• necessary

• optional

• unimportant

• trivial

Answer explanation

Indispensable means absolutely necessary, so the correct choice to fill in the blank is 'necessary'. The other options, 'optional', 'unimportant', and 'trivial', do not convey the same meaning.

Fill in the blank: Brand Recognition is a measure of how well a target audience can identify a brand through visual or auditory cues, such as its logo, packaging, colors, slogans, or jingles, without seeing or ________ its name.

• hearing

• reading

• writing

• speaking

Answer explanation

The correct choice is 'hearing' because brand recognition involves identifying a brand without the need to hear its name. The focus is on visual or auditory cues, excluding the act of hearing the brand name itself.

Prospect means potential customer. Fill in the blank: Prospect means ________ customer.

• potential

• existing

• former

• loyal

Answer explanation

Prospect specifically refers to a potential customer, indicating someone who may become a customer in the future. The other options, such as existing, former, and loyal, do not fit this definition.

Buying pattern refers to the habits and routines that consumers establish when making ________.

• purchases

• decisions

• plans

• assumptions

Answer explanation

Buying pattern specifically relates to the habits consumers form when making purchases, as it reflects their behavior and preferences in acquiring goods or services. Thus, 'purchases' is the correct choice.