Unit 3: Business Planning and Market Research Study Guide

The top 3 barriers to entry are monetary, technological, and distribution.

• True

• False

Trying to create a manufacturing facility to start creating laundry detergent to compete with Tide and all would encompass high costs. The costs would be considered a ______________ barrier.

• Distribution

• Monetary

• Technological

• Manufacturing

• Regulatory

Inability to enter a market due to the complexity of ____________ channels and high costs to entry.

• Marketing

• Manufacturing

• Technological

• Monetary

• Distribution

A PEST analysis assesses the internal factors in a market.

• True

• False

Strengths and Weaknesses in a SWOT analysis assess internal factors in a company.

• True

• False

Opportunities and Threats in a SWOT analysis assess internal factors in a company.

• True

• False

Laws, government funding, and tax rates are a part of the _____________ factors in a PEST analysis.

• Socio-cultural

• Technological

• Economic

• Environmental

• Political

Economic stability and wages are a part of the _____________ factors in a PEST analysis.

• Political

• Economic

• Socio-cultural

• Technological

New ways to transact business are a part of the _____________ factors in a PEST analysis.

• Technological

• Economic

• Social

• Political

Demographics and population are a part of the _____________ factors in a PEST analysis.

• Socio-cultural

• Economic

• Technological

• Political