ADM 2313 Final Verified Answers

ADM 2313 Final Verified Answers Q1. For any new entrepreneurial venture, the most important customer segment is the a) Primary target audience b) Primary predators c) Fiduciary target audience d) Secondary target audience ️a) Primary target audience Q2. Suppose you want to launch a high end luxury car. You should focus on a) Customer income b) Customer gender c) Customer income & age d) All of the above ️c) Customer income & age Q3. The developers who make apps for apple watch forms the a) Tertiary target audience b) Primary target audience c) Fiduciary target audience d) Secondary target audience ️a) Tertiary target audience Q4. Information about customer's income , gender & ethnicity is also known as a) Critical information b) Personified information c) Demographic information d) Situational information ️c) Demographic information Q5. Predatory pricing strategy involves a) Setting a price below the market price and cost of production. b) Setting a price above the market price c) Setting a price for earning high profit d) Setting a price for covering the cost ️a) Setting a price below the market price and cost of production. Q6. Hydro Ottawa & Hydro Quebec operate in a a) Duopoly market b) Monopoly market c) Perfectly competitive market d) Monopolistic competitive market ️b) Monopoly market Q7. Market for fresh produce like fruits and vegetables tend to be a) Perfectly competitive b) Monopoly c) Duopoly d) Freemium market ️a) Perfectly competitive Q8. The orange bars in the graph below most likely represents market segmentation for *orange bars are focused on people aged 24-31* a) Technology based product b) Pharmaceutical products c) Animal care products d) Food products ️a) Technology based product Q9. Organization of the Petroleum Exporting Countries (OPEC) operate in a a) Oligopoly market b) Monopoly market c) Perfectly competitive market d) Monopolistic competitive market ️a) Oligopoly market