ENTREP. MIDTERM

Which of the following is NOT a characteristic of successful entrepreneurial teams?

.

• Diverse skill sets

• Effective communication

• Lack of conflict

• Shared vision and goals

Which of the following is NOT a common legal structure for a business?

• Sole proprietorship

• Partnership

• Corporation

• Cooperative

Which of the following is a characteristic of successful entrepreneurs?

• Risk aversion

• Limited creativity

• Ability to adapt to change

• Resistance to innovation

What is the definition of entrepreneurship?

• The process of starting and managing a business venture

• The act of investing in stocks and bonds

• The practice of analyzing financial data

• The study of economic systems

How can feedback from customers help in recognizing a potential market?

• By identifying new product ideas

• By analyzing sales data

• By developing a pricing strategy

• By understanding customer satisfaction and preferences

. Which of the following is an example of a geographic factor in market segmentation?

• Age

• Income

• Occupation

• Climate

What is the purpose of conducting competitor analysis in market research?

• To identify potential business partners

• To assess the financial health of competitors

• To understand competitors' strengths and weaknesses

• To create a pricing strategy based on

Why is it important to identify a target market?

• To minimize competition

• To focus marketing efforts and resources

• To increase product prices

• To reduce customer loyalty

What does it mean to recognize a potential market?

• Identifying a new product idea

• Understanding consumer preferences and needs

• Developing a marketing strategy

• Analyzing sales data

How can market research help in recognizing a potential market?

• By analyzing financial statements of competitors

• By identifying customer needs and preferences

• By developing a pricing strategy

• By creating a brand image