Feasibility QUIZ

What is the purpose of a feasibility study?

• To predict market trends

• To assess the practicality o a proposed plan

• To evaluate marketing strategies

• to analyze financial statements

Which of the following is a key feature of test marketing?

• Developing a marketing strategy

• Launching a full-scale product

• Conducting small-scale launches to gauge consumer response

• Analyzing market impact

Prototyping is most closely associated with which activity?

• Finalizing a marketing plan

• Conducting a market analysis

• Writing an executive summary

• Creating a preliminary model of a product

Market research primarily involves what?

• Gathering and analyzing information about consumers

• Developing prototypes

• Writing a prospectus

• Evaluating executive summaries

Which of the following describes a unique benefit that allows a company to outperform its competitors?

• SWOT Analysis

• Market Entry

• Market Saturation

• Competitive Advantage

Which term refers to potential problems that may arise in a business plan?

• Marketing Functions

• Pitfalls

• SWOT

• Prototype

Market functions primarily deal with which aspect?

• The practical roles and activities required to meet consumer needs

• Employee management

• Prototyping

• The internal structure of a company

Which of the following best describes marketing strategies?

• A form of market analysis

• Techniques to develop a financial plan

• Techniques to promote products and reach customers

• A type of marketing plan

What does it mean to make a market impact?

• What effect a new product or service has on an existing market

• A specific method of test marketing

• Designing a prototype model to accompany an idea or concept

• Incorporating various data collection methods

Critiquing data involves which step?

• Ignoring negative feedback

• Analyzing and evaluating data for accuracy and relevancy

• Conducting test marketing

• Developing a prospectus