SEM Unit 5 Review

You will often hear the term “balanced budget” in college sports because many universities operate as nonprofits, and the goal isn’t necessarily to make money but to maintain financial stability.

• True

• False

Because marketing professionals are focused solely on marketing activities like advertising, sales, and promotion, an understanding of the financial plan is not important.

• True

• False

In the movie business, opening weekend at the box office is typically a good indicator of how well the film will perform financially.

• True

• False

Events that could negatively impact the company are not typically factored into a SWOT analysis.

• True

• False

When an organization maintains a balanced budget, it isn’t spending more money than they have, and it doesn’t need to borrow or go into debt to cover expenses.

• True

• False

Monopolies are legal in the United States.

• True

• False

Competition has minimal impact on consumers.

• True

• False

Some products and services can compete directly and indirectly, depending on the context and consumer needs.

• True

• False

A business plan is the same thing as a marketing plan.

• True

• False

In a SWOT analysis, weaknesses are the qualities that give a business a competitive disadvantage.

• True

• False