Small BuSineSS management Practice exam 3 neweSt 2025/2026
with comPlete QueStionS and correct anSwerS |already
graded a+||Brand new VerSion!
Which of the following statements concerning a company's target market is false? - ANSWER-B) A
"shotgun approach" to marketing (trying to appeal to everyone rather than to only a small
market segment) is the most effective way to compete with large companies and their bigger
marketing budgets
One of the greatest marketing mistakes small businesses make is ________. - ANSWER-A) failing to
identify the target market
Studies of shifting patterns in age, income, education, race, and other population characteristics
are the subject of ________. - ANSWER-B) demographics
For an entrepreneur, a business plan ________. - ANSWER-D) contains both a marketing plan and
a financial plan
The focus of a small company's marketing plan should be on ________. - ANSWER-B) the customer
Small businesses can compete with larger rivals with bigger budgets by employing
unconventional, low-cost creative techniques known as ________. - ANSWER-C) bootstrap
marketing strategies
Which of the following is not one of the objectives a bootstrap marketing plan should
accomplish? - ANSWER-B) Determine how the company will be able to serve all customers.
, The specific group of customers at whom a company aims its good or services is referred to as a
________. - ANSWER-A) target market
The foundation of every business is ________. - ANSWER-C) satisfying the customer through a
customer-driven marketing strategy
A common mistake entrepreneurs make is ________. - ANSWER-D) assuming that a market exists
for their product or service
Entrepreneurs can find the right match based on trends, their products or services, and the
appropriate target markets through ________. - ANSWER-D) market research
Which of the following is not a secondary source of market research data? - ANSWER-C) Focus
groups
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 customers' behavior is
known as ________. - ANSWER-B) data mining
One "natural" advantage small businesses have over large businesses, which can be a significant
competitive advantage, is ________. - ANSWER-A) building a community with customers and
connecting with them on an emotional level
Which of the following bootstrap marketing tactic(s) allow a small company to utilize
relationship marketing successfully? - ANSWER-A) Keep in close contact with customers with
"thank you's" and other personal communication techniques.
B) Organize and sponsor a service or community-oriented project.
C) Launch a loyalty or frequent buyer program.
with comPlete QueStionS and correct anSwerS |already
graded a+||Brand new VerSion!
Which of the following statements concerning a company's target market is false? - ANSWER-B) A
"shotgun approach" to marketing (trying to appeal to everyone rather than to only a small
market segment) is the most effective way to compete with large companies and their bigger
marketing budgets
One of the greatest marketing mistakes small businesses make is ________. - ANSWER-A) failing to
identify the target market
Studies of shifting patterns in age, income, education, race, and other population characteristics
are the subject of ________. - ANSWER-B) demographics
For an entrepreneur, a business plan ________. - ANSWER-D) contains both a marketing plan and
a financial plan
The focus of a small company's marketing plan should be on ________. - ANSWER-B) the customer
Small businesses can compete with larger rivals with bigger budgets by employing
unconventional, low-cost creative techniques known as ________. - ANSWER-C) bootstrap
marketing strategies
Which of the following is not one of the objectives a bootstrap marketing plan should
accomplish? - ANSWER-B) Determine how the company will be able to serve all customers.
, The specific group of customers at whom a company aims its good or services is referred to as a
________. - ANSWER-A) target market
The foundation of every business is ________. - ANSWER-C) satisfying the customer through a
customer-driven marketing strategy
A common mistake entrepreneurs make is ________. - ANSWER-D) assuming that a market exists
for their product or service
Entrepreneurs can find the right match based on trends, their products or services, and the
appropriate target markets through ________. - ANSWER-D) market research
Which of the following is not a secondary source of market research data? - ANSWER-C) Focus
groups
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 customers' behavior is
known as ________. - ANSWER-B) data mining
One "natural" advantage small businesses have over large businesses, which can be a significant
competitive advantage, is ________. - ANSWER-A) building a community with customers and
connecting with them on an emotional level
Which of the following bootstrap marketing tactic(s) allow a small company to utilize
relationship marketing successfully? - ANSWER-A) Keep in close contact with customers with
"thank you's" and other personal communication techniques.
B) Organize and sponsor a service or community-oriented project.
C) Launch a loyalty or frequent buyer program.
