23.Sales forecasts are typically expressed in dollars or units. PTS: 1 REF: p. 186 OBJ: 7-3 TYPE: C 24.Because sales forecasts revolve around specific target markets, the market should be defined as precisely as possible. PTS: 1 REF: p. 186 OBJ: 7-3 TYPE: C 25.Because of the relatively inconsequential amount of sales conducted by a typical small business, the majority of entrepreneurs need not be concerned with formulating accurate sales forecasts. PTS: 1 REF: p. 187 OBJ: 7-3 TYPE: C
26.The forecasting process can be characterized by the point at which the process is started and the nature of the predicting variable. PTS: 1 REF: p. 189 OBJ: 7-4 TYPE: C 27.A chain-ratio method of sales forecasting, or a buildup process, is frequently used for consumer products forecasting. PTS: 1 REF: p. 190 OBJ: 7-4 TYPE: C 28.A buildup process requires a small business to identify all potential buyers in a target market's submarkets and then combine these estimates to determine the calculated demand. PTS: 1 REF: p. 190 OBJ: 7-4 TYPE: C 29.The name of the product and/or service and the name of the business are not important, so they don’t need to be defended by registering them with the proper agencies. PTS: 1 REF: p. 181 OBJ: 7-2 TYPE: C 30.The distribution strategy is a section of the marketing strategy. PTS: 1 REF: p. 193 OBJ: 31.It is best to write a marketing plan before collecting marketing research data. PTS: 1 REF: p. 193 OBJ: 7-5 TYPE: C MULTIPLE CHOICE 1.Small business marketing involves a number of activities, including PTS: 1 REF: p. 176 OBJ: 7-1 TYPE: C 2.A firm's marketing mix consists of ____ activities. PTS: 1 REF: p. 181 OBJ: 7-2 TYPE: D
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