Business and Marketing Concepts Quiz

What is the primary purpose of a feasibility study?

• To determine if a business idea is viable
• To create a marketing strategy
• To hire employees
• To design a logo

Which of the following is NOT typically included in a market analysis?

• Target market
• Competition
• Demand
• Employee salaries

What does ROI stand for in a business context?

• Return on Investment
• Rate of Increase
• Rapid Operational Integration
• Risk of Insolvency

Which of the following is NOT a common legal structure for a business?

• LLC
• Corporation
• Sole Proprietorship
• Nonprofit Corporation

What is the first step in the design thinking process?

• Empathize
• Define
• Ideate
• Prototype

Which market segmentation strategy divides the market based on age, gender, and income?

• Demographic segmentation
• Geographic segmentation
• Psychographic segmentation
• Behavioral segmentation

What is the term for marketing to a large, undifferentiated audience?

• Mass marketing
• Niche marketing
• Micro-marketing
• Personalized marketing

Which of the following is NOT a typical element of the external business environment?

• Demographics
• Economy
• Technology
• Company culture

What does the term 'sustainability' primarily refer to in a business context?

• Long-term environmental and social responsibility
• Maintaining profits
• Keeping the same employees
• Using the same suppliers

Which of the following is an example of psychographic segmentation?

• Dividing customers by their hobbies and interests
• Grouping customers by age
• Categorizing customers by location
• Segmenting customers by income level