2 points An important part of a market analysis involves collecting information. confidential geographic employee Property canvas Cost Based Pricing is also known as: 2 points Market oriented pricing Cost plus pricing O Dynamic cost pricing Product cost pricing Incentive based pricing Why do lending institutions carefully 2 points evaluate how well a business meets certain criteria before granting such organization loan? O To improve relations To provide service O To prevent theft To reduce risk O To increase staff A major reason why it is important to 2 points accurately forecast sales for a marketing plan is because the forecast is the basis of other business reports. O pricing strategies. operational activities. management techniques. O marketing staff Products that appeal to the majority 2 points of customers are often sold through marketing efforts. segmented mass demographic O psychographic area 3 Promotion in marketing mix involves 2 points all of the following except one: Advertising O Sales promotion Channel Publicity O Digital marketing K Products that appeal to the majority 2 points of customers are often sold through marketing efforts. segmented mass demographic O psychographic area 3 Promotion in marketing mix involves 2 points all of the following except one: Advertising O Sales promotion Channel Publicity Digital marketing K K 2 points Product pricing is very important in any for profit making enterprise, the goal is to ensure that: Marginal revenue is higher than the marginal cost Variable cost is kept at the lowest level possible The cost of production and marketing of the product/ service is relatively favourable. The profit margin is kept within the acceptable range The price is distinctively competitive 4 2 points What should a successful brand promise be able to do? Customize the product for each customer Clarify the company's processes Communicate an appealing benefit Convey a high-quality image O Short Change the clients 2 points A vision directs the path of a business; after writing your personal vision, what must you do to achieve it? Commit to your vision through hard work and dedication. Put your vision in a safe space and look at it again in five years. O Get the highest-paying job that you can find out of high school. Spend all of your free time working on self- improvement Place it on the vision board for all staff to see. 5 Common mistakes start-up ventures 2 points make, include all, except one: Poor time management Gathering too many data Refusing to delegate Scaling up too fast Not taking care of and employees 2 points In anticipation of a sale order, the following activities are most essential: Get a logo and a website Get a bank account and market access Get social and business membership association Get a website and finance Attend an event and showcase 6 The business goals are accomplished 2 points by means of marketing sales people budgets profit strategies adverts Finding the right business idea is vital 2 points to all businesses. Which of the following activities is an example of preparing before attempting to sell an idea: Explaining solutions to audience needs Determining the details of your idea Overcoming objections from the audience Affirming the audience's decision to "buy" Going to Corporate Affairs Commission to register a co any 7 When developing a business plan for 2 points a new venture, an entrepreneur should include a comprehensive description of the customers the new business wants to attract in the O Market-segment analysis O SWOT analysis O Promotional plan Corporate philosophy summary O Executive Summary 2 points In determining the particular services to provide to customers, businesses consider their and resources. Important, Unimportant O human, environmental Environmental, financial Financial, human Business Plan, Feasibility As a business, creating an avenue to 2 points move the goods to the final consumer is very important; channels of distribution benefit consumers by increasing profits for businesses. lowering the prices of all consumer products. raising the quality of all consumer products. making a variety of products available to them make the business managers and the delivery people busy