Description
Small Business An Entrepreneur’s Business Plan 9th Edition by Gail Hiduke – Test Bank
Chapter 5—Reading and Beating the Competition
TRUE/FALSE
1.The market-based economy has changed the way business has to view competition.
ANS: F PTS: 1 REF: p. 121
2.Once you have established your market niche, it is not important to change your product.
ANS: F PTS: 1 REF: p. 121
3.The only competition that you should be concerned with are your direct competitors.
ANS: F PTS: 1 REF: p. 122
4.A competitor profile includes data to track competitors and their behavior.
ANS: T PTS: 1 REF: p. 123
5.Competitive touchpoint analysis is primarily to help stop shoplifting.
ANS: F PTS: 1 REF: p. 123
6.One potential element of a customer profile is an investigation into their patents and trademarks.
ANS: T PTS: 1 REF: p. 124
7. The key to evaluating customer touchpoints is working with a group of your target customers.
ANS: T PTS: 1 REF: p. 125
8.Competitive intelligence is generally a job for a single person within an organization.
ANS: F PTS: 1 REF: p. 126
9.When writing your Business Plan it is important to include all your customer touchpoints.
ANS: F PTS: 1 REF: p. 125
10.The objective of competitive intelligence is to eliminate your competitors.
ANS: F PTS: 1 REF: p. 126
11.Suppliers are a good source for gathering information about competitors.
ANS: T PTS: 1 REF: p. 129
12. Competitive intelligence is only used for long-term decision.
ANS: F PTS: 1 REF: p. 129
13.Detailed, competitive information on the Internet comes at a very high cost.
ANS: F PTS: 1 REF: p. 130
14.Trade shows are generally a good source for market data.
ANS: T PTS: 1 REF: p. 130
15.It is easy to be a leader in all three value disciplines.
ANS: F PTS: 1 REF: p. 134
16. The best information on your competitors comes from your customers.
ANS: T PTS: 1 REF: p. 132
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