SMALL BUSINESS MANAGEMENT EXAM 2 [2026] UPDATED
ACTUAL Exam | Question and Answer | 100% VERIFIED
ANSWERS
• Although there are numerous pricing strategies to use in the beginning, it really
doesn't matter since pricing is really guess work.
a.
True
b.
False -✓✓ B
• There is no single, perfect method of establishing a promotional budget because it
is both an art and a science.
a.
True
b.
False -✓✓ A
• Location and distribution are major components of the "place" component.
a.
True
b.
False -✓✓ A
• Cause-related marketing is a rather difficult way to work philanthropy into your
business.
a.
,True
b.
False -✓✓ B
• Which of the following is one of the four Ps of marketing?
a.
population
b.
publicity
c.
product
d.
packaging -✓✓ C
• What is the smartest price strategy?
a.
Choose a pricing strategy that incorporates the psychology of pricing.
b.
Pick a pricing strategy that is different from the competition's strategy.
c.
Offer the lowest price that you can afford to offer.
d.
Find the lowest cost products from your suppliers. -✓✓ A
• Which of the following is not an example of successful branding?
, a.
A product represents luxury to customers.
b.
Customers associate a product with high ethical standards.
c.
Customers confuse a business's logo with that of another business.
d.
Associate your company with a charity. -✓✓ C
• When you build a brand, try to focus tightly on one key ________.
a.
feature
b.
benefit
c.
product
d.
product line -✓✓ B
• Promotion consists of ________.
a.
other promotional devices such as discount coupons and giveaways
b.
advertising
c.
ACTUAL Exam | Question and Answer | 100% VERIFIED
ANSWERS
• Although there are numerous pricing strategies to use in the beginning, it really
doesn't matter since pricing is really guess work.
a.
True
b.
False -✓✓ B
• There is no single, perfect method of establishing a promotional budget because it
is both an art and a science.
a.
True
b.
False -✓✓ A
• Location and distribution are major components of the "place" component.
a.
True
b.
False -✓✓ A
• Cause-related marketing is a rather difficult way to work philanthropy into your
business.
a.
,True
b.
False -✓✓ B
• Which of the following is one of the four Ps of marketing?
a.
population
b.
publicity
c.
product
d.
packaging -✓✓ C
• What is the smartest price strategy?
a.
Choose a pricing strategy that incorporates the psychology of pricing.
b.
Pick a pricing strategy that is different from the competition's strategy.
c.
Offer the lowest price that you can afford to offer.
d.
Find the lowest cost products from your suppliers. -✓✓ A
• Which of the following is not an example of successful branding?
, a.
A product represents luxury to customers.
b.
Customers associate a product with high ethical standards.
c.
Customers confuse a business's logo with that of another business.
d.
Associate your company with a charity. -✓✓ C
• When you build a brand, try to focus tightly on one key ________.
a.
feature
b.
benefit
c.
product
d.
product line -✓✓ B
• Promotion consists of ________.
a.
other promotional devices such as discount coupons and giveaways
b.
advertising
c.
