Question 9 (5 points)

Barnes & Noble and Amazon would be considered a(n) _______ because they sell similar products.

Question 9 options:

strategic group

oligopoly

overlapping group

customer group

Question 10 (5 points)

Which of the following is a way to make your mission statement the best it can be?

Question 10 options:

Set aside an hour to brainstorm and write the statement.

Don't involve others in crafting the statement, because you know your business best.

Avoid using "radiant," descriptive words. They're a distraction.

Revise the mission statement as conditions change and the business climate evolves.

Question 15 (5 points)

Marketing based on socioeconomic and psychological factors is known as

Question 15 options:

cohort marketing.

demographic marketing.

generational marketing.

pseudo marketing.

Question 17 (5 points)

Competitors who sell similar products using similar marketing plans are known as

Question 17 options:

pair bonds.

strategic groups of competitors.

baseline competitors.

copycats.

Question 18 (5 points)

Almost 80% of business owners are clueless about the competition, resulting in

Question 18 options:

lost market share and customers.

needless lawsuits.

uninspired products.

lack of perseverance.

Question 19 (5 points)

Why do many business owners avoid market research?

Question 19 options:

They're afraid of hearing any negative feedback.

They don't know how to do it.

They're unwilling to take the time.

They're shy.

Question 20 (5 points)

What can provide key data so you can develop a marketing plan that works?

Question 20 options:

A business concept

A management plan

Market research

Product development