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Business Basics and Market Insights

This document contains a knowledge assessment test with multiple choice questions about business and marketing concepts. The questions cover topics such as the definition of key business structures like corporations and partnerships; identifying target markets and market segments; differentiating between raw materials, industrial goods, and retail goods; defining primary market research and feasibility studies; the role of marketing in building customer relationships; and factors that influence consumer behavior like culture and personal characteristics.

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Jerome Abrenica
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18 views3 pages

Business Basics and Market Insights

This document contains a knowledge assessment test with multiple choice questions about business and marketing concepts. The questions cover topics such as the definition of key business structures like corporations and partnerships; identifying target markets and market segments; differentiating between raw materials, industrial goods, and retail goods; defining primary market research and feasibility studies; the role of marketing in building customer relationships; and factors that influence consumer behavior like culture and personal characteristics.

Uploaded by

Jerome Abrenica
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

PART I.

KNOWLEDGE

INSTRUCTIONS: Choose the correct answer from the choices below. Write the letter of the correct answer
on the space provided.

_____1. A business or association usually formed to manufacture or supply products or services


for profit.
A. Private Corporation
B. Sole Proprietorship
C. Partnership
D. Company -

_____ 4. The particular group of customers you are interested in is the?


A. Target market -
B. Total market
C. Customer base
D. Market segment

_____ 5. Which of the following are goods or components produced for sale to manufacturers.
A. Raw materials
B. Brands
C. Industrial goods -
D. Retail goods

_____ 6. 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
_____ 8. Which of the following involves collecting first-hand data
A. Secondary inquiry
B. Product analysis
C. Primary research -
D. Feasibility study

_____ 9. Ben is conducting a feasibility study for a new venture idea. Which of the following
questions should Ben answer in terms of the venture's financial considerations:.
A. How will the business obtain the money it needs? -
B. What Regulations is the business likely to encounter?
C. Is there a real demand for the idea, good, or service?
D. How will the business communicate information about its products?

_____ 11. What business process of creating relationship with and satisfying customers.
A. Advertisement
B. Marketing -
C. Market Research
D. Market Study

_____

_____ 14. what factors influence the characteristics of consumers?


A. Personal and social
B. Cultural and personal -
C. Politic and Social
D. Economy and Polite

B. A middle manager who helps to make tactical decisions.


C. An individual who develops a business idea and combines the factors of production.
D. A sole trader who puts up a business.

_____ 17. What is tactical decisions?


a. Medium-term decisions
B. Long term decision made by senior managers.
C. Short-term decisions made by departmental managers.
D. High-term decisions made by local managers.
_____
A. Cildre, parents, local community, government, police, employee
B. Employees, local community, government, customers, local council, media
C. Students, government, customers, pupils, local community, police
D. Government, children, church, employees, local community, parents

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