Question

Your Best, Inc.

Christie worked for a retail company and noticed there were many things it could do better. She shared some of her ideas with upper management, but it did not want to do things differently. When Christie went home to talk to her husband, they both realized that, given her passion, it would be better for Christie to open her own business. After a lot of consideration, she decided to open a sporting goods store called Your Best, Inc. She also knew just where to open the storeright next to her house.

To be certain to address all aspects of the business, Christie hired a marketing research firm to determine the best location. Once all the research was compiled and analyzed, she realized that it would actually be better to open the store in a different area. She also realized that deciding where to locate the business was not the only major concern. More specifically, she would have to focus on the four elements of the marketing mix as well, creating a whole marketing plan. Her husband mentioned the possibility of using online information services to help with the business. With her husband's support and a good marketing plan, Christie felt that she would be prepared to make the right decisions.

5.

Refer to Your Best, Inc. Marketing research involves

a.

satisfying customers.

b.

determining a target market.

c.

creating a product mix.

d.

interpreting information.

e.

product promotion.

6.

Refer to Your Best, Inc. Christie thought about focusing on the four elements of the marketing mix. Which of the following is one of those elements?

a.

Production

b.

Price

c.

Power

d.

Possession

e.

Personal income

7.

Refer to Your Best, Inc. In preparing a marketing plan, Christie should ensure that all of the following components are included except a(n)

a.

executive summary.

b.

SWOT analysis.

c.

production schedule.

d.

environmental analysis.

e.

evaluation and control.

8.

Refer to Your Best, Inc. If Christie were to use information services available online, they would offer her access to which of the following?

a.

Databases

b.

Financial assistance

c.

Physical location

d.

Production materials

e.

Disposable income

9.

Refer to Your Best, Inc. When Christie's business gets going, her income less all additional personal taxes would be called her

a.

business buying behavior.

b.

disposable income.

c.

IRS imposed income.

d.

discretionary income.

e.

total loss.

Answer 1

5.

Refer to Your Best, Inc. Marketing research involves

e.

product promotion (market research helps in product promotion in order to enhance sales)

  

6.

Refer to Your Best, Inc. Christie thought about focusing on the four elements of the marketing mix. Which of the following is one of those elements?

b.

Price (it is one of the components of marketing mix)

  

7.

Refer to Your Best, Inc. In preparing a marketing plan, Christie should ensure that all of the following components are included except a(n)

c.

production schedule (this is not covered in a marketing plan)

  

8.

Refer to Your Best, Inc. If Christie were to use information services available online, they would offer her access to which of the following?

a.

Databases

  

9.

Refer to Your Best, Inc. When Christie's business gets going, her income less all additional personal taxes would be called her

b.

disposable income (it refers to income minus personal taxes paid)