BZ 450 BZ450 EXAM 6 ANSWERS - ASHWORTH

BZ 450 BZ450 EXAM 6 ANSWERS - ASHWORTH

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BZ450 Being an Entrepreneur Exam 6 Answers (Ashworth)
Question 1

2.5 / 2.5 points
Once a firm has segmented the market, the next step is to:
Question options:
a) 
decide on a position within the segment.

b) 
settle on pricing.

c) 
select a target market.

d) 
establish the company's brand.

Question 2

2.5 / 2.5 points
________ are valuable because of their willingness to make relatively small investments.
Question options:
a) 
Venture capital firms

b) 
Business angels

c) 
Institutional investors

d) 
Investment bankers

Question 3

2.5 / 2.5 points
________ is a term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm's valuation.
Question options:
a) 
Trademark equity

b) 
Brand equity

c) 
Logo equity

d) 
Trademark value-added

Question 4

2.5 / 2.5 points
Steven and Emily Campbell are planning to open a casual dining restaurant in downtown Akron, Ohio, and need $125,000 to get started. They have $50,000 of their own money, which leaves $75,000. After getting turned down by a couple of banks, they decided to turn to their relatives and acquaintances for help. Fortunately, they were able to raise the money through a gift from Steven's grandfather, a loan from Emily's parents, and a small investment by Steven's best friend in college, Doug. The money that an entrepreneur raises in this manner is referred to as:
Question options:
a) 
friends and family.

b) 
bootstrapping.

c) 
networking money.

d) 
compassion money.

Question 5

2.5 / 2.5 points
Venture capital firms are ________ of money managers who raise money in "funds" to invest in startups and growing firms.
Question options:
a) 
limited partnerships

b) 
finance associations

c) 
consortiums

d) 
collations

Question 6

2.5 / 2.5 points
Amy Clark just opened a soup and salad restaurant near Golden Gate Park in San Francisco, CA. Rather than borrow money or raise funds from investors, Amy used her creativity and ingenuity and figured out how to get her business up and running without the need for external funding. Amy is utilizing a technique referred to as:
Question options:
a) 
networking.

b) 
reaching.

c) 
scrounging.

d) 
bootstrapping.

Question 7

2.5 / 2.5 points
The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called market:
Question options:
a) 
positioning.

b) 
splitting.

c) 
targeting.

d) 
segmentation.

Question 8

2.5 / 2.5 points
A ________ illustrates a firm's positioning strategy relative to its major rivals.
Question options:
a) 
product attribute map

b) 
positioning analysis grid

c) 
positioning plot

d) 
competitive analysis grid

Question 9

2.5 / 2.5 points
________ is a financial transaction whereby a business sells its accounts receivable to a third party at a discount in exchange for cash.
Question options:
a) 
Factoring

b) 
Vendor credit

c) 
Peer-to-peer lending

d) 
Crowdfunding

Question 10

2.5 / 2.5 points
Which of the following is NOT one of the four elements that constitute a firm's marketing mix?
Question options:
a) 
Price

b) 
Promotion

c) 
Passion

d) 
Place (or distribution)

Question 11

2.5 / 2.5 points
The 4Ps of marketing refer to a company's:
Question options:
a) 
tactical mix.

b) 
promotional blend.

c) 
organizational mix.

d) 
marketing mix.

Question 12

2.5 / 2.5 points
Which of the following statements is NOT correct regarding business angels?
Question options:
a) 
Business angels invest in more startups on a yearly basis than venture capitalists.

b) 
The number of angel investors has decreased dramatically over the past decade.

c) 
Business angels usually take a seat on the board of directors of the firms in which they invest.

d) 
Business angels are valuable because of their willingness to make relatively small investments.

Question 13

2.5 / 2.5 points
A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.
Question options:
a) 
conception

b) 
idea

c) 
formation

d) 
product

Question 14

2.5 / 2.5 points
Some companies monitor the integrity of their brands through a program of brand:
Question options:
a) 
administration.

b) 
persistence.

c) 
determination.

d) 
management.

Question 15

2.5 / 2.5 points
Debt financing involves:
Question options:
a) 
raising venture capital or securing a private placement.

b) 
selling corporate bonds or selling stock via an IPO.

c) 
getting a grant or selling corporate bonds.

d) 
getting a loan or selling corporate bonds.

Question 16

2.5 / 2.5 points
Katherine Ford is thinking about starting a computer company. After doing some research, she has decided that the computer industry can be divided into the following product categories - handheld computers, laptops, tablet computers, PCs, work stations, minicomputers, mainframes, and super computers. She is now trying to decide which product category she is the most interested in competing in. The process that Katherine is going through is called market:
Question options:
a) 
splitting.

b) 
subdividing.

c) 
segmentation.

d) 
dividing.

Question 17

2.5 / 2.5 points
________ are individuals who invest their personal capital directly in start-ups.
Question options:
a) 
Venture capitals

b) 
Business angels

c) 
Institutional investors

d) 
Investment bankers

Question 18

2.5 / 2.5 points
Historically, commercial banks:
Question options:
a) 
have been a good source of funds for startup firms.

b) 
have not funded startup firms at all.

c) 
have been a good source of funds for manufacturing firm startups but not for service firm startups.

d) 
have not been a good source of funds for startup firms.

Question 19

2.5 / 2.5 points
A product attribute map is used to help a firm determine if:
Question options:
a) 
it is emphasizing benefits rather than features.

b) 
its branding strategy is appropriate.

c) 
its market segmentation is correct.

d) 
its positioning strategy is appropriate.

Question 20

2.5 / 2.5 points
Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.
Question options:
a) 
focal

b) 
objective

c) 
target

d) 
critical



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