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WorksheetsEntrepreneurship Honors 1 Unit 4
Total questions: 30
Worksheet time: 21mins
Name
Class
Date
1.
When Kate selects a name and obtains a wed address for her new catering business, she needs to make sure that the name of her business has which characteristic?
a)
Unique and Available
b)
Catchy and Copyrighted
c)
Specific and patented
d)
Abstract and formal
2.
One way a national business chain can make sure that customers will remember its name is to develop what kind of brand name?
a)
One that is long and complicated.
b)
One that is easy to read and pronounce.
c)
One that is similar to those used by competitors.
d)
One that is associated with a specific period of time.
3.
Can any brand name be selected and used by a business?
a)
No, the name must be legally available for use.
b)
Yes, brand names cannot be owned by a business.
c)
Yes, a business can use any name it wants to use.
d)
No, the name must be registered before it can be used.
4.
An effective mission statement should effectively reflect which component of the business?
a)
Touch points
b)
Specific goals
c)
Ethics policies
d)
Core values
5.
Which characteristic is descriptive of a meaningful company objective?
a)
Measurable
b)
Vague
c)
General
d)
Unlimited
6.
The plan to increase production by 10% over a two-year period is an example of which management activity?
a)
Developing objectives
b)
Assigning job tasks
c)
Controlling expenses
d)
Directing employees
7.
Managers use broad objectives that they develop for a business as the basis for setting which measurements?
a)
Benefit levels
b)
Performance targets
c)
Salary ranges
d)
Recruitment quotas
8.
Which is the most effective mission statement?
a)
‘We own the most well-known, popular amusement parks and resort hotels in the world.’
b)
‘We create happiness by providing the finest entertainment for people of all ages, everywhere.
c)
‘We sell toys, clothing, jewelry, housewares, books, movies, and much, much more!’
d)
We want to become a $100 billion corporation by the end of the twenty-first century.’
9.
Which is a reason why managers develop company objectives?
a)
To identify business purposes
b)
To forecast sales potential
c)
To solve operating problems
d)
To communicate with employees
10.
Effective product or service management help businesses to perform which action?
a)
To barter
b)
To prospect
c)
To compete
d)
To recruit
11.
When considering a new product for a company, Tom decided to introduce a product in only three states for a six-month period. Which action did he perform?
a)
Product development
b)
Feasibility analysis
c)
Commercialization
d)
Test marketing
12.
Which is a characteristic of a pure services?
a)
Uses plain, inexpensive packaging
b)
Most often uses product bundling strategies
c)
Does not include a tangible product
d)
Does not include product guarantees
13.
Product or service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to which possibility?
a)
Government oversight
b)
Competitors only
c)
Market opportunities
d)
CEO wishes
14.
To appeal to a target market with slightly different needs, a business added a group of related items to its product mix. What is this group of items?
a)
Service expansion
b)
Product replacement
c)
Line extension
d)
Product enhancement
15.
When considering the services to offer customers, a business should determine if a specific service would accomplish which goal?
a)
Enhance customer satisfaction levels
b)
Increase the number of products possibly returned by customers
c)
Offend the existing competitors of the business
d)
Stabilize variable interest rates
16.
Which is a benefit to businesses of offering customized services to their customers?
a)
Businesses charge higher prices for customized services, which can lead to higher profit margins.
b)
Businesses save time by offering customized services to their customers.
c)
Customized services are also considered to be standardized services
d)
By customizing their services, businesses deliver more consistent products to their customers.
17.
Before identifying the USP of a company, which situation should happen first?
a)
Determine if one is really needed to be successful
b)
Determine if the advertising costs are affordable
c)
Determine if one already exist
d)
Determine if there are many successful ones that can copied
18.
If a company cannot fulfill its USP, what will most likely happen?
a)
It will go bankrupt.
b)
It will spend more money.
c)
It will lose credibility.
d)
It will gain business.
19.
To guard an USP from its competitors, which action should be performed?
a)
Repeating it as much as possible
b)
Printing it in a foreign language
c)
Making it difficult to understand
d)
Avoid letting it become public
20.
Which location would be most appropriate for a small business selling convenience products such as groceries that customers purchase on a regular basis?
a)
Downtown shopping area
b)
Neighborhood shopping area
c)
Regional shopping center
d)
Super-regional shopping center
21.
Marketers often condense USPs into short slogans due to which situation?
a)
A successful USP is always very short.
b)
All work team members must memorize them.
c)
There cannot be product differentiation through any other means.
d)
Customers tend to remember just one thing from an advertisement.
22.
A channel task should be performed by the channel member who has which attribute?
a)
Performs its best
b)
Has the least money
c)
Has the most money
d)
Wants to perform it
23.
A benefit of channels of distribution is which feature?
a)
Producers must spend more money.
b)
Businesses can easily obtain products from all over the world.
c)
Retailers must spend more money.
d)
Businesses spend more time looking for products wanted.
24.
Which product would likely use an exclusive distribution pattern?
a)
A silk necktie
b)
A gallon of milk
c)
A home-decoration magazine
d)
A large piece of farm machinery
25.
The first decision that marketers must make when managing channels is performing which action?
a)
Setting channel objectives
b)
Determining distribution patterns
c)
Selecting channel members Selecting channel members
d)
Determining channel responsibilities
26.
A hairstylist cutting the hair of a client is providing which example of a distribution channel?
a)
Producer to agent to consumer
b)
Producer to consumer
c)
Producer to retailer to consumer
d)
Producer to wholesaler to consumer
27.
A large car manufacturer purchases materials that it will use to create parts for automobiles. What is the car manufacturer?
a)
A retailer
b)
A wholesaler
c)
An industrial user
d)
An agent
28.
Marketers determine distribution intensity so they can achieve which outcome?
a)
Ideal market exposure
b)
Ideal market exposure Complete market coverage
c)
Perfect market balance
d)
Total market saturation
29.
Indirect channels of distribution are usually of which attribute than direct channels?
a)
Longer
b)
Shorter
c)
Cheaper
d)
More efficient
30.
Channel members should share an equal commitment to which component of the product?
a)
Name
b)
Price
c)
Quality
d)
Packaging
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