Entrepreneurship: Building a Business

Chapter 6: Market Analysis

Chapter Practice Tests

1
____________ is a way to understand the industry's ability to support new growth.
A)Market forecasting
B)Market expansion
C)Market research
D)Carrying capacity
2
The particular group of customers you are interested in is the__________.
A)total market
B)target market
C)customer base
D)market segment
3
___________is the study of consumers based on social characteristics.
A)Psycho-graphics
B)Geographics
C)Demographics
D)Brand loyalty
4
______________are goods or components produced for sale to manufacturers.
A)Raw materials
B)Brands
C)Industrial goods
D)Retail goods
5
The collection and analysis of information aimed at understanding the behavior of consumers is called _____________.
A)consumer focus
B)market research
C)market forecasting
D)venture research
6
Ways to structure research are called ______________.
A)research models
B)customer canvassing
C)model building
D)research designs
7
Information previously collected by someone else is called ___________.
A)secondary data
B)primary data
C)marketing history
D)historical research
8
_____________ is information you obtain for the first time and use specifically for your study.
A)reputable data
B)primary data
C)secondary data
D)descriptive research
9
You can find opportunity in an industry by looking at _______________.
A)target markets
B)industry forces
C)trends and changes
D)competitive forces
10
_____________ keep new business from either entering or succeeding in an industry.
A)Trade associations
B)Unions
C)Competitive industries
D)Barriers to entry
11
A/An ____________ is a situation where the cost of producing goods or services decreases as the volume of its production increases.
A)manufacturing volume
B)economy of scale
C)barrier to entry
D)mass marketing
12
_____________ is the tendency to buy a particular product.
A)Mass marketing
B)Demand
C)Market share
D)Brand loyalty
13
A /An__________ is a small, specialized segment of a market.
A)industry
B)niche
C)market position
D)substitute
14
A customer __________ is a complete picture of a venture's prospective customers.
A)history
B)needs analysis
C)profile
D)base
15
One way to forecast __________ is to use historical analogy products.
A)target markets
B)demand
C)competition
D)retailing trends
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