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saint mgt320 full course [ all module busn plan assignment final busn plan all discusn, midterm and final exam

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Question;Module 1 DiscussionPost to the discussion forum your response to the following: What contributions do small businesses make to our economy? Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 2 DiscussionPost to the discussion forum your response to the following: What is a balanced scorecard? What value does it offer entrepreneurs who are evaluating the success of their current strategies? Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 3 DiscussionPost to the discussion forum your response to the following: How beneficial to franchisees is a quality training program? Explain. Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 4 DiscussionPost to the discussion forum your response to the following: How much negative information can you expect the seller to give you about the business? How can a prospective buyer find out such information? Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 5 DiscussionPost to the discussion forum your response to the following: How does personal conflict affect partnerships? What steps might partners take to minimize personal conflict? Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 6 DiscussionPost to the discussion forum your response to the following: How can break-even analysis help an entrepreneur planning to launch a business? What information does it give an entrepreneur? Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.Module 7 DiscussionPost to the discussion forum your response to the following: Why must a small business owner concentrate on effective cash flow management? Explain the difference between cash and profit. Support your post with evidence from the class text, material from an outside source or personal experience. Your response should be a few paragraphs. Post a separate response to a least two classmates they should be constructive in nature.all assignmentsAssignment 1For this module, you need to complete your first assignment. To complete this assignment, answer these questions:1. Why is strategic planning important to a small company?2. What is a competitive advantage? Why is it important for a small business to establish one?3. What are the steps in the strategic management process?Complete it in a Mircrosoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module2_lastname.doc.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.)Assignment 2Answer the questions for either Choice A or Choice B, but not both.Choice A1. What advantages can an entrepreneur who buys a business gain over one who starts a business from scratch?2. How would you go about determining the value of the assets of a business if you were unfamiliar with them?3. Why do so many entrepreneurs run into trouble when they buy an existing business? Outline the steps involved in the right way to buy a business.Choice B1. What is franchising?2. Describe the three types of franchising and give an example of each.3. How does franchising benefit the franchiser?Complete assignment in a Microsoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module4_lastname.doc. Submit the assignmentno later than Sunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.)Assignment 3Review your notes from the Activity for this module. Choose a form of legal organization that is most advantageous for the proposed company in your business plan and document the reasons why you think this is the best choice. Also, list the disadvantages of this legal form of organization and address how you will effectively deal with these issues.Make sure to go back and include these strengths and weaknesses issues in your SWOT.Complete it in a Microsoft Word document and submit it through the Dropbox. Be sure to include your name at the top of the document and save the file as module3_lastname.doc.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Assignment 4For this assignment, please answer these questions:1. Why is it important for entrepreneurs to develop financial plans for their companies?2. How should a small business manager use the ratios discussed in this chapter?3. Outline the key points of the 12 ratios discussed in this chapter. What signals does each give a business owner?Complete it in a Microsoft Word Document and submit it via the Dropbox.Be sure to include your name on the top of the document. Submit the assignmentno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Assignment 5For this assignment, please answer these questions:1. What is a marketing plan? What lies at its center?2. What objectives should a marketing plan accomplish?3. How can market research benefit a small business owner? List some possible sources of market information.Complete it in a Microsoft Word Document and submit it via the Dropbox. Be sure to include your name on the top of the document. Submit the assignmentno later thanSunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.)Business Plan Assignment 1Green assignment icon Begin your business plan by completing Mission and Vision Statements (step 3) for your proposed business. Include a Company History (step 4) if you are contemplating the purchase of an existing business or franchise. If you are creating a new enterprise, provide the concept in this area. Refer to pages 199 and 200, items I, II, and III for assistance in your preparations. Submit the assignment to the Dropbox no later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Business Plan Assignment 2The next step you will take in developing your Business Plan is to complete the Business and Industry Profile (step 5) and the Business Strategy (step 6).Clickhere to view the Business Plan Elements.Submit the assignmenBusiness Plan Assignment 3The next step you will take in developing your Business Plan is to describe the venture?s product or service (step 7) and identify the location and layout (step 9).Clickhere to view the Business Plan Elements.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Business Plan Assignment 4The next step you will take in developing your Business Plan is to complete the competitor analysis (step 10) and the description of the management team (step 11). Remember, in the description of the management team, place your chosen form of ownership and why that form is preferred.Clickhere to view the Business Plan Elements.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT.(This Dropbox basket is linked to Turnitin.)Business Plan Assignment 5The next step you will take in developing your Business Plan is to create financial statements (step 13) and the loan or investment proposal (step 14).Clickhere to view the Business Plan Elements.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Business Plan Assignment 6Your business plan is almost complete. The next step is to complete the conclusion (step 15).Clickhere to view the Business Plan Elements.Submit the assignment to the Dropboxno later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)Business PlanAs you have read in the syllabus, we will be creating a business plan. To facilitate this process, we will be building the plan throughout the course. In each module, you will be asked to provide information relative to the proposed business. It is cumulative in nature and the Business Plan Assignments will add to the final project submission. Therefore, it is important that you review the comments made by your instructor on each submission.To begin, clickhere to look at the elements of the business plan you will be creating.Consider each step as you develop your business plan for any business you wish. A small business such as lawn cutting, babysitting, or home repair is recommended, however, you are not limited. Your business plan should be between 5 and 10 pages.The business plan is an important assignment for this course and will require some real effort on your part to complete.Business Plan Elements1. "Title Page and Table of Contents2. The Executive Summary3. Mission and Vision Statements4. Company History (If you are purchasing an existing business or are looking to expand an existing business)5. Business and Industry Profile6. Business Strategy7. Describe the venture?s product or service8. Marketing Strategy9. Location and Layout10.Competitor Analysis11.Description of Management Team12.Plan of Operation13.Financial Statements14.Loan or Investment Proposal15.ConclusionBusiness Plan ElementsEntrepreneurs seem to be characterized by a(n):: desire for money.inability to organize but strong conceptual skills.desire to work alone because of weak management skills and a need for control.high energy level.1 of 1Comments:Question 2. Question:Entrepreneurs start businesses for a number of reasons including:: an opportunity to make a difference.having to deal with less government regulation than as an executive of a large company.a much lower risk of career failure due to layoff or acquisition than working for a large company.the opportunity to get rich much quicker than if they work for a large company.Comments:Question 3. Question:"Copreneurs" are marked by:: a division of labor by expertise.their similarity to the traditional mom and pop operation.a decline in the number of businesses.a greater success at raising venture capital than sole proprietorship-type businesses.1 of 1Comments:Question 4. Question:Which of the following corporate trends have contributed to the growth of entrepreneurship?: The acquisition and merging of mega corporations.The idea that "small is beautiful" in large companies, resulting in less hierarchy and layers of management.The flood of venture capital being made available to small businesses.The downturn in international markets forcing a focus on the domestic market.1 of 1Comments:Question 5. Question:The international market:: has proven to be a tremendous opportunity for small business.is being dominated by large corporations based in Europe and Japan.is largely closed to small U.S.-based businesses because of the growth of international entrepreneurship.provides greater opportunities for women and minority entrepreneurs than U.S. domestic markets do.1 of 1Comments:Question 6. Question:U.S. economic structure is moving:: away from an agricultural to an industrial economy.away from an industrial to a knowledge-based one.back to an agricultural economy.away from an agricultural to a knowledge-based one.1 of 1Comments:Question 7. Question:Briefly outline the key characteristics of a typical entrepreneur.:Question 8. Question:What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six actions they can take.:Question 9. Question:Which of the following is a danger in choosing a differentiation strategy?: Charging a price so high that the company prices itself out of the market.Choosing a basis for price leadership that is essentially unimportant to the customer.Choosing a market that is not large enough to be profitable.An overfocus on overhead costs.0 of 1Comments:Question 10. Question:Cost leadership has several inherent dangers such as:: choosing to distinguish the product that does not boost its performance.an overfocus on the physical characteristics of the product.the identified niche is not large enough to be profitable.an overfocus on costs to the elimination of other strategies.1 of 1Comments:Question 11. Question:________________ are the broad, long-range attributes the small business seeks to accomplish, ________________are the specific, measurable milestones the company wants to achieve.: Goals, objectivesGoals, strategiesObjectives, goalsStrategies, goals1 of 1Comments:Question 12. Question:These are products of the interaction of various forces, trends, and events that are outside the control of the small business.: Distinctive competenciesKey success factorsOpportunities and threatsStrengths and weaknesses1 of 1Comments:Question 13. Question:The ________________ is a set of measures unique to the company that gives managers a quick and comprehensive view of how the business is doing and includes both financial and operational factors.: core competencieskey success factorsbalanced scorecardaction plan1 of 1Comments:Question 14. Question:Purchasing rival companies' products, taking them apart, and analyzing them is:: industrial espionage.illegal due to federal regulation.benchmarking.cataloguing.0 of 1Comments:Question 15. Question:Tyson Foods' practice of adding value to its chicken products by deboning, skinning, bite-sizing, or pre-cooking them is an example of a:: cost leadership strategy.differentiation strategy.concentration strategy.0 of 1Comments:Question 16. Question:The principle behind a ________________ strategy is to select one or more market segments, identify customers' special needs, and approach them with a good or service designed to excel in meeting these needs.: cost-leadershipdifferentiationfocusconcentration1 of 1Comments:Question 17. Question:An effective strategic plan does which of the following?: Identifies a complete set of success factors-financial, operating, and marketing, that yield a competitive advantage for the company.Focuses on one generic strategy to the exclusion of all other strategies.Always seeks a high profile in the specific markets chosen.Is always cost based.1 of 1Comments:Question 18. Question:The information-gathering process in competitive analysis:: is an expensive process that only established small companies can afford.can be relatively inexpensive and easy for the small business owner to conduct.is closely regulated by various federal laws.is a process that requires expert help but is relatively inexpensive.0 of 1Comments:Question 19. Question:Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose primary purchase criterion is:: quality.constant innovation.price.customer service.0 of 1Comments:Question 20. Question:Why is it important for a business owner to monitor the competition? Explain how a business owner could use a competitive profile matrix to do that. Include in the review what its value is, what information it contains, and how a small business owner would create it.:Instructor Explanation: Business owners should know their competitors almost as well as they know their own company. A competitive profile matrix is a helpful tool for analyzing competitors' strengths and weaknesses.0 of 2Comments:Question 21. Question:Explain how vision and mission work together, providing direction for the small business. In your discussion, identify at least five key questions a mission statement should answer.:2 of 2Comments:Question 22. Question:Which of the following should make a potential franchisee suspicious about a franchiser's honesty?: Claims that the franchise contract is a standard one and that there's no need to read it.An offer of direct financing of a specific element of the franchise package.Not providing detailed operational information until 10 days before signing the contract.Requiring franchisees to spend a certain percentage of profits on advertising.1 of 1Comments:Question 23. Question:The success of franchising is largely due to:: the economic growth of the United States and other developed nations, economies.more college students choosing to go to work for themselves rather than for corporations.the mutual benefits it provides to the franchiser and franchisee.All of these factors0 of 1Comments:Question 24. Question:A master franchise is also called:: sub-franchise.area developer.Both A and BNone of the above1 of 1Comments:Question 25. Question:In franchising, __________ pay fees and royalties to a __________ in return for the right to sell its products or services under the franchiser's trade name and often to use its business format and system.: franchiser, franchiseefranchisee, franchiserfranchise, business ownerbusiness owner, parent company1 of 1Comments:Question 26. Question:The Uniform Franchise Offering Circular is now called the:: FTC.FDDUFOC.FOC1 of 1Comments:Question 27. Question:Another term for cobranding franchising is:: Master Franchising.Conversion Franchising.Multiple-Unit Franchising.Piggybacking.1 of 1Comments:Question 28. Question:Typically, the franchiser controls are very tight on what the franchisee:: does in terms of who they hire as employees.sets in terms of retail pricing and hours of operation.does with his/her net profits after fees and taxes are paid.sells in terms of the product or service they offer.1 of 1Comments:Question 29. Question:__________ franchising exists when a franchisee is licensed to sell specific products under the franchiser's brand name through a selective distribution system.: Trade namePureConversionProduct distribution0 of 1Comments:Question 30. Question:The primary advantage of buying a franchise over starting your own company is:: in the purchase of the franchiser's experience, expertise, and products.the fact it is much less expensive than doing your own business start-up.the extensive assistance offered in finding start-up capital.the absolute territory protection offered by all franchisers.1 of 1Comments:Question 31. Question:Explain the benefits of franchising to the franchisee.:2 of 2Comments:Question 32. Question:Describe the key trends that will affect franchising over the next decade.:2 of 2Comments:Question 33. Question:When a buyer is reviewing a candidate company's lease arrangements, location and appearance, intangible assets, etc., he is answering what basic acquisition question?: Is the business financially sound?Why does the owner want to sell?What is the physical condition of the business?What legal aspects should be considered?0 of 1Comments:Question 34. Question:The process of gathering information about the company, valuing the company, and performing a detailed review of all records, agreements, and compliance is called:: a letter of intent.nondisclosure.valuation.due diligence.1 of 1Comments:Question 35. Question:When buying an existing business, the potential buyer should remember that:: it is a long process and the buyer should be patient.existing businesses often do not continue to be successful after a change in ownership.it is often more difficult to find capital for an existing business than it is for a start-up.he/she will likely have to make significant changes in the work force.1 of 1Comments:Question 36. Question:Before buying an existing business, the buyer should analyze two external elements of the business:: its capital and market potential.its customer characteristics and direct competitors.its intangible assets and financial status.the market potential of the products and the existing inventory.0 of 1Comments:Question 37. Question:When buying an existing business, one should remember that:: it is generally not important to independently evaluate the inventory.you are always buying goodwill with the tangible assets of the business.it is as easy to make change in an existing business as it is in a start-up.the real reason for selling is seldom stated honestly.1 of 1Comments:Question 38. Question:The inventory in an existing business:: is always current and salable.usually appreciate over time, making the business a bargain.needs to be checked for age and salability.is usually stated honestly and does not need independent auditing.1 of 1Comments:Question 39. Question:If the firm owns any trademarks, patents, or copyrights, or has built up a positive reputation with customers and suppliers, the business has what is/are called:: capital.goodwill.intangible assets.market potential.0 of 1Comments:Question 40. Question:Which of the following is a way to smooth the transition of leadership/management from the seller of a business to the buyer?: Focus on the customer, offer new incentives, improve customer service.Focus on the employees, listen to them, keep them informed.Concentrate on operations, updating equipment and changing processes.Visit your competitors and introduce yourself and get to know them.1 of 1Comments:Question 41. Question:What key questions need to be answered in the process of due diligence?:2 of 2Comments:Question 42. Question:What guidelines should be kept in mind when deciding how to value a company?finalWhile a sole proprietorship gives the owner maximum flexibility in running the business, it also:r: makes the company a prime target for an acquisition or merger.creates a sense of isolation.makes it difficult to hire management talent to help grow the business.makes it difficult to sell.1 of 1Comments:Question 2. Question:A partnership is:r: taxed like a corporation.not subject to the double taxation of some other forms of business.taxed at the lowest rate for an individual.taxed under capital gains laws as all profits are considered to come from appreciated assets.Comments:Question 3. Question:An owner should choose an S-corporation form of ownership when he/she:r: has an established company that is suffering losses due to double taxation.is starting up a company and anticipating either net losses or high profits with large dividends.owns a company in which net profits before any compensation to shareholders are less than $100,000 per year.has an existing sole proprietorship and wants to lower the tax bill through deducting fringe benefits as business expenses.1 of 1Comments:Question 4. Question:When choosing a form of ownership, the entrepreneur should realize that:r: it is difficult if not impossible to change forms of ownership once the company is established.the expense of changing forms of ownership makes it prohibitively expensive to change.the most common form of ownership is the partnership and is the least expensive to establish.he/she will most likely change the form of ownership as the company grows in size and revenues.0 of 1Comments:Question 5. Question:Which of the following is a disadvantage of the corporation form of ownership?r: An inability to accumulate capitalThe unlimited liability to the members of the boardDouble taxation on profits and individualsThe lack of continuity1 of 1Comments:Question 6. Question:An S-corporation form of ownership overcomes which disadvantage of the regular or "C" corporation form of ownership?r: The double taxation issueThe expense and difficulty of formationThe amount of regulation and red tape involved in its operationThe potential loss of control by the founder1 of 1Comments:Question 7. Question:One disadvantage of the proprietorship is:r: the least regulated form of business ownership.limited personal liability.excessive access to capital.limited skills and abilities.1 of 1Comments:Question 8. Question:Sole proprietorships characteristically are:r: fairly complex to create.subject to special legal restrictions.expensive to create.easy to discontinue.1 of 1Comments:Question 9. Question:If a partnership is formed without an agreement, the partnership is automatically subject to the:r: Certification of Incorporation laws.Uniform Partnership Act.Limited Liability Company Act.Revised Uniform Limited Partnership Act.1 of 1Comments:Question 10. Question:A limited partnership is a modification of a(n) ________ form of ownership.r: sole proprietorshipgeneral partnershipcorporationS-corporation1 of 1Comments:Question 11. Question:A significant disadvantage of a partnership is:r: the unlimited personal liability for all partners.the inability to attract either additional capital or new partners due to the complexity of rewriting the agreement.the difficulty of disposing a partnership interest without dissolving the partnership.the regulatory complexity under which a partnership must be formed and operated.1 of 1Comments:Question 12. Question:A corporation doing business in the state in which it is incorporated is considered to be a(n) ________ corporation.r: aliendomesticforeignlocal1 of 1Comments:Question 13. Question:Depreciation is:r: the difference between the total sources available to the owner and the total uses of those assets.listed as a source of funds because it is a noncash expense, deducted as a cost of doing business.the owner's total investment at the company's inception plus retained earnings.creditors' total claims against the firm's assets.0 of 1Comments:Question 14. Question:The ________ ratio measures the owner's rate of return on the investment in the business.r: net profit-to-equitynet profit on salesquick profitnet sales-to-working capital1 of 1Comments:Question 15. Question:As a general rule, financial analysts suggest that a small business maintain a(n) ________ ratio of at least 2:1.r: debt-to-net worthcurrentinventory turnoverquick0 of 1Comments:Question 16. Question:________ are those items of value the business owns, ________ are those things the business owes.r: Assets, liabilitiesLiabilities, assetsRatios, equitiesEquities, liabilities1 of 1Comments:Question 17. Question:________ is one indication that a small business may be undercapitalized.r: A current ratio below 1:1A quick ratio above 2:1A debt-to-net worth ratio above 1:1A net-sales-to-working capital ratio equal to 3:11 of 1Comments:Question 18. Question:In the balance sheet, intangible assets include items such as:r: goodwill.copyrights and patents.Both A and Baccounts receivable.1 of 1Comments:Question 19. Question:A high debt ratio:r: means that creditors provide a large percentage of the company's total financing.gives a small business more borrowing capacity.decreases the chances that creditors will lose money if the business is liquidated.decreases the creditor's interest in the business.1 of 1Comments:Question 20. Question:The ________ is built on the basic accounting equation: Assets = Liabilities + Owner's Equity.r: income statementsources and uses of funds statementbalance sheetcash budget1 of 1Comments:Question 21. Question:________ ratios indicate how efficiently the small firm is being managed.r: LiquidityProfitabilityLeverageOperating1 of 1Comments:Question 22. Question:The ________ ratio is the liquidity ratio most commonly used as a measure of short-term solvency.r: working capital ratioquickdebt-to-net worthturnover0 of 1Comments:Question 23. Question:The ________ shows what assets the business owns and what claims creditors and owners have against those assets.r: balance sheetincome statementsources and uses of funds statementpro forma0 of 1Comments:Question 24. Question:________ are those things that a business owes, they represent creditors' claims against the business.r: AssetsLiabilitiesOwners' equitiesLiquidities1 of 1Comments:Question 25. Question:The cash budget is based on the ________ method of accounting.r: cashfinancialaccrualhybrid1 of 1Comments:Question 26. Question:The budgeting strategy that evaluates the necessity of every item on the budget each year by starting with a zero in each budget category is called:r: accrual budgeting.cash budgeting.zero-based budgeting.cash flow budgeting.1 of 1Comments:Question 27. Question:________ measures a company's liquidity and its ability to pay its bills and other financial obligations on time by tracking the flow of cash into and out of the business over a period of time.r: ForecastingCash FlowCash on handNone of the above1 of 1Comments:Question 28. Question:Marking down inventory items that don't sell will result in:r: keeping the inventory lean.reduction in inventory turnover ratio.paying expenses on time.all of the above.0 of 1Comments:Question 29. Question:The purchases for inventory and production lead sales. This statement means that:r: purchases for inventory and production provide sales leads.the bills for inventory typically must be paid before sales are generated.cash must be available in order to pay for the purchases.Both B and C1 of 1Comments:Question 30. Question:The statement, "collection of accounts receivable lags behind sales," means that:r: the collection of funds in the accounts receivable is always late.customers always are late in paying their bills.the customers who purchased goods on credit may not pay until a month or more later.None of the above0 of 1Comments:Question 31. Question:A cash budget is only as accurate as the ________ forecast from which it is derived.r: profitreceivablesincomesales1 of 1Comments:Question 32. Question:Many successful, growing, and profitable businesses fail because they:r: become insolvent.don't have adequate cash to meet the sales.don't have management expertise.Both A and B0 of 1Comments:Question 33. Question:The first step to building a workable credit policy is:r: screening customers carefully before granting them credit.establishing a firm credit policy in writing.developing a policy for pursuing past-due accounts.creating a thorough credit application.0 of 1Comments:Question 34. Question:An arrangement in which customers mail their payments on account to a post office box which the company's bank monitors, from which it collects the payments, and then immediately deposits the payments into the firm's interest-bearing account is called a:r: zero balance account.lockbox.sweep account.credit reference.1 of 1Comments:Question 35. Question:A ________ is a contract in which a business selling an asset on credit gets a security interest in that asset, protecting the company's legal rights in case the buyer fails to pay.r: security agreementlock boxcash on delivery agreementNone of the above1 of 1Comments:Question 36. Question:Once a credit account becomes past due, a small business owner should:r: wait patiently, the customer will most likely pay the bill sooner or later.turn the account over to a collection agency the day it becomes past due.contact the customer immediately, ask for full payment, and set a deadline.call the "deadbeat" in the middle of the night and make harassing and threatening remarks until he pays.1 of 1Comments:Question 37. Question:________ is not one of the three estimates a financial analyst suggests.r: OptimisticPessimisticStandardMost likely0 of 1Comments:Question 38. Question:When it comes to gathering market research on customers, most small companies tend to be:r: as good at it as large companies.at a severe disadvantage in comparison to large companies.data rich, lots of facts, but information poor, little in a useful form.less effective at defining the research problem than larger companies.1 of 1Comments:Question 39. Question:One of the first steps in building a marketing plan is identifying a small company's ________, the group of customers at whom the company aims its products and services.r: target marketcompetitorscustomersBoth A and C1 of 1Comments:Question 40. Question:________ refers to developing, maintaining, and managing long-term relationships with customers so that they will want to keep coming back.r: Customer Relationship ManagementCustomer Retention ManagementCustomer Management SoftwareCustomer Reassurance Management0 of 1Comments:Question 41. Question:One "natural" advantage small businesses have over large business, which can be a significant competitive advantage, is:r: relationship marketing.their ability to conduct market research.their lower costs.their ability to serve many highly div

 

Paper#46074 | Written in 18-Jul-2015

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