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Midterm2_SampleQuestions - D leadership E market...

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BUS2 131D Professor Dr. Merz Midterm 2, Sample Questions ____ is the process of determining if a business idea is viable. A. Venture analysis B. Opportunity recognition C. Feasibility analysis D. Business model breakdown E. Industry analysis (Answer C, Easy) New ventures often compete within the boundaries of their industry’s market offerings. As discussed in “Creating New Market Space”, new ventures can create new market space by zeroing in on ____ that detract from the value of their own market offering. A. the chain of buyers B. complementary product/service offerings C. substitute industries D. strategic groups within industries E. geographic areas (Answer B, Medium) The process of influencing and inspiring others to work to achieve a common goal and then giving them the power and freedom to achieve it is called ____. A. management B. goal or objective setting C. performance appraisal
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Unformatted text preview: D. leadership E. market segmentation (Answer D, Medium) The Four Actions Framework consists of the following elements: ____. A. product, price, promotion, place B. eliminate, create, reduce, raise C. substitute industries, strategic groups within industries, chain of buyers, complementary market offerings D. eliminate, create, make, attract E. intangibility, separability, variability, perishability (Answer B, Easy) Lifestyle marketing ____ . A. emphasizes consumers passing along information about a product to other consumers B. is designed to obtain instant results while using limited resources C. is the planned insertion of a brand or product into a movie, television show, or some other media D. involves identifying marketing methods associated with the hobbies and entertainment venues of a target market E. none of the above (Answer D, Medium)...
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