Are customers willing to purchase our goods and services

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Reference no: EM132279137

1. The product or service feasibility analysis addresses the question, "Are customers willing to purchase our goods and services" Entrepreneurs need feedback from primary and secondary research from potential customers or market research firms like MELT to successfully answer this question. Secondary research involves gathering data that has already been compiled and is available at a reasonable cost or sometimes even free. Which of the following is NOT a source of secondary research?

A. demographic data

B. market research

C. industry databases

D. focus groups

E. trade associations and business directories

2. After evaluating the broad macro environment, the entrepreneur changes focus to the immediate competitive environment. A useful tool for analyzing a specific industry's attractiveness within the competitive environment is the Five Forces Model developed by Harvard Business? School's Michael Porter. According to the Five Forces? Model, these forces interact with one another to determine the setting in which companies compete and hence the attractiveness of the industry. Which of all the following is NOT one of the five? forces?

A. threat of new entrants

B. threat of substitute products or services

C. the rivalry among noncompeting firms

D. bargaining power of buyers

E. bargaining power of suppliers

3. The first step in assessing industry attractiveness is to paint a picture of the industry at the macro level. Market research firms, like MELT, can help develop effective business research and offer strategies for conducting it. Which of the following is NOT one of the six foundational macro forces that create change in industries and the markets they serve?

A. economic

B. demographic

C. global

D. technological

E. sociopolitical

4. Tim Howard, the goal keeper for the U.S. Men’s soccer team, has just signed a major marketing deal with your company. You plan to utilize him in a variety of marketing campaigns leading up to the 2018 Men’s Soccer World Cup in Russia. Which one of the following categories of nontraditional marketing will you emphasize in this situation ?

a. Person marketing

b. Event marketing

c. Place marketing

d. Sports marketing

e. Social media marketing

5. Austin, Texas is host to a popular festival, South by Southwest (SXSW) which recently celebrated its 30th anniversary. It has released dates for the new year and invites participants for the unique music, film, and interactive events or sessions from March 10th through 19th. Which category of nontraditional marketing would best characterize the marketing activities to attract attendees for the multi-day festival?

a. event b. cause c. place d. organization

Reference no: EM132279137

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