Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. An example of collecting primary data is;
a. Observation
b. Interviewing
c. Focus groups
d. All of the above
Q. An internal environmental variable.
a. Financial resources
b. Technology
c. Industry demand
d. The economy
Q. What is a target market?
a. A group of customers a venture reaches by accident.
b. All consumers who purchase the venture's product.
c. A specific group of potential customers toward which a venture aims its marketing plan.
d. A chain of discount stores.
Q. Monitoring ___________ during the implementation of the marketing plan allows the entrepreneur to establish controls on the process.
a. sales data
b. research data
c. consumer data
d. none of the above
Q. The ___________ of a marketing plan is sometimes dependent on the solvency of theorganization.
a. length
b. success
c. failure
d. all of the above
Q. ______ refers to a quality of a service in which each time it is provided it will be slightlydifferent from the previous time.
a. Perishability
b. Tangibility
c. Heterogeneity
d. Inseparability
Q. A balanced combination of good and service is called a(n)
a. Heterogeneous services.
b. Hybrid products.
c. Core products.
d. Augmented products.
Q. ______ is the group of people on which a marketer focuses promotion and sales efforts.
a. Me-too group
b. Maturity group
c. Target market
d. Breakeven market
Q. ______, in the new product development process, is the stage that comes after idea generation.
a. Product development
b. Commercialization
c. Idea evaluation
d. Idea screening
Q. The difference between the buying and selling price is called _____ and it should be enoughto cover all fixed costs.
a. psychological price
b. breakeven
c. mark-up
d. elasticity
Q. A product for which there are few substitutes and for which a change in price has littleeffect on quantity purchased is considered __________.
a. elastic
b. inelastic
c. marked-up
d. elasticity
Q. Charging the highest price the market will bear is called which of these?
a. Return pricing
b. Psychological price
c. Skimming
d. Breakeven
Q. Setting a price that ends in the number 5, 7, or 9 is considered
a. Return pricing
b. Psychological price
c. Skimming
d. Odd even pricing
Q. ______ refers to setting the price for an item relatively low and then charging much higherprices for the expendables it uses.
a. Prestige pricing
b. Odd-even pricing
c. Partitioned pricing
d. Captive pricing