Which of the following correctly describes an example of a secondary competitor? a: a coffee shop that also sells pastries would be a secondary competitor for a bakery that sells pastries, among other products. b: a gym in the same area that has the second highest sales would be a new gym's secondary competitor. c: an auto repair shop whose main competitor has received some bad publicity and a decline in sales would then see that competitor as secondary. d: if a cleaning service that is the only one of its kind in town opens a second location, that location is a secondary competitor.

1)      ….life cycle of a product? It helps set expectations about

2)      ….three to five years? True

3)      ….not necessarily new or unique? The product has a change in production, such as being eco-friendly

4)      ….run at a loss in the beginning. True

5)      Efficiently managing the purchasing cycle…. Unused inventory takes away from a business’s profits

6)      ….definition of marketing? All methods of reaching and attracting potential customers

7)      If a business has only one owner… False

8)      Why are luxury brands…? Their brands are built more on being unique than being a good deal

9)      ….well-established customer base…. False

10)   The executive summary is a particularly important… reasons except: It details where the funding for the business will come from

11)   ….an example of a secondary competitor? A coffee shop that sells pastries would be a secondary competitor for a bakery that sells pastries, among other products

12)   ….offers the best return on investment….? A coupon that cost $200 to print  that increases sales during the period it is valid by $500 and a 10 percent increase in returning customers

13)   A business plan is helpful…? It helps a business set future goals

14)   Why is price not always the most…? All of the above

15)   Understanding the target market will…. True

Entire quiz answers:

1. A

2. A

3. A

4. A

5. C

6. B

7. B

8. D

9. A

10. A

11. C

12. A

13. B

14. D

15. A

I just now completed the quiz for Unit 4, and those are the answers that are supposed to be correct. I hope this really helps!

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