Reference no: EM132843394

1. The marketing plan should include certain key objectives, such as:

a. determining product costs through market research

b. determining what costing strategies to use

c. pinpointing the specific target markets a small business will serve

d. discovering what the company's ETDB index is

2. A demographic trend is like a train for the small business owner in that:

a. the small business will be "run over" if it doesn't get out of the way and try to work with the "spin-offs" from the trend

b. he/she needs to catch it and ride it to wherever it is going

c. he/she needs to discover where it is going early and decide whether or not to get on board

d. it is a slow process that is easily caught at several points, and the small business owner has lots of time to consider his/her options

3. ________ is a process in which computer software that uses statistical analysis, database technology, and artificial intelligence finds hidden patterns, trends, and connections in data so that business owners can make better marketing decisions and predictions about customer's.behavior.

a. Customer Relationship Management

b. Simulation

c. Data Mining

d. Data Discovery

4. To build an effective customer service program, it is important to:

a. swiftly discipline employees who mistreat customers

b. offer low prices

c. train key employees to watch for and intervene when there are problems

d. let managers wait on customers occasionally

5. Time compression management (TCM) involves:

a. decreasing the time it takes a product to move from introduction to the maturity stage of the product life cycle

b. enhancing the quality of existing products

c. speeding new products to market

d. shortening the sales clerks' response time to customers entering the retail store and then being served

Attachment:- Unit 3- Small Business Management.rar