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Question
Kentucky Soup and Salad is a casual dining restaurant that has been owned by Kenneth Peterson for the past 11 years. The restaurant offers a menu that is typical for casual dining restaurants and affords Kenneth a level of income that is similar to what he would earn in a conventional job. According to the textbook, Kentucky Soup and Salad is an example of a(n):
A) salary-substitute firm
B) entrepreneurial firm
C) quality-of-life firm
D) lifestyle firm
E) industry-standard firm
Answer
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Related questions
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There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property in question is directly related to its competitive advantage. Second, a firm should determine if its intellectual property:
A) is less than 20 years old
B) could be licensed to another company
C) has value in the marketplace
D) is something that was developed "in-house"
E) rightfully belongs to the firm or the employees who developed it
Q:
Once a firm has segmented the market, the next step is to:
A) decide on a position within the segment
B) select a critical market
C) select a target market
D) select a focal market
E) immediately decide on the "4Ps" of the marketing strategy
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Brenda Berry 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, minicomputers, and mainframes. She is now trying to decide which product category she is the most interested in competing in. The process that Brenda is going through is called:
A) market splitting
B) market subdividing
C) market segmentation
D) market dividing
E) market separating
Q:
Which of the following is the correct sequence of events in regard to the process of selecting a target market and position strategy?
A) creating a unique positioning strategy, selecting a target market, segmenting the market
B) segmenting the market, creating a unique positioning strategy, selecting a target market
C) segmenting the market, selecting a target market, creating a unique positioning strategy
D) selecting a target market, creating a unique positioning strategy, segmenting the market
E) creating a unique positioning strategy, segmenting the market, selecting a target market
Q:
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:
A) market positioning
B) market splitting
C) market targeting
D) market subdividing
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Q:
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Q:
Michael Jones owns a Web design firm. The way Michael prices his products is to determine what consumers are willing to pay, and then he backs off a bit to provide a cushion. The method that Michael used to determine his prices is called:
A) predatory pricing
B) technical pricing
C) cost-based pricing
D) competitive-based pricing
E) value-based pricing
Q:
In ________, the list price is determined by estimating what consumers are willing to pay for a product and then backing off a bit to provide a cushion.
A) value-based pricing
B) tactical pricing
C) strategic pricing
D) cost-based pricing
E) economic-based pricing
Q:
In ________, the list price of an item is determined by adding a markup percentage to a product's cost.
A) cost-based pricing
B) compliance-based pricing
C) value-based pricing
D) competitive-based pricing
E) economic-based pricing
Q:
A(n) ________ is an early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.
A) tribute account
B) reference account
C) approval report
D) appreciation account
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Q:
InstyMed's phrase "We make patients better quicker" is an example of a(n):
A) tagline
B) grabline
C) notice-line
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E) attention-line
Q:
Nike's familiar phrase "Just do it" is an example of a(n):
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B) tagline
C) notice-line
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Q:
A(n) ________ is the set of attributespositive or negativethat people associate with a company.
A) emblem
B) logo
C) symbol
D) brand
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Q:
Research in Motion (RIM) is a handheld computer company that focuses specifically on business users that need dependable access to e-mail and the Internet while away from their office. For RIM, this specific type of user within the large business market segment is referred to as its:
A) gap market
B) task market
C) position market
D) hole market
E) niche market
Q:
What is an elevator speech? How did it get its name?
Q:
Why do most firms need funding? Provide a brief explanation of each reason.
Q:
The percentage of the profits the venture capitalist gets is called the "carry."
Q:
The number of angel investors in the United States has decreased dramatically over the past decade.
Q:
Venture capitalists are individuals who invest their personal capital directly in startups.
Q:
Bootstrapping is the use of creativity, ingenuity, and any means possible to obtain resources other than borrowing money or raising capital from traditional sources.
Q:
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Q:
Typically, the seed money that gets a company off the ground comes from a commercial bank.
Q:
Which of the following statements is incorrect about grant programs?
A) Granting agencies are very visible and well-known, so it's normally not hard to find one.
B) The federal government has grant programs beyond the SBIR and STTR programs.
C) It's important to avoid grant-related scams.
D) There are a limited number of organizations that offer new businesses grants.
E) There are private foundations that grant money to both existing and startup firms.
Q:
The ________ is a competitive grant program that provides over $1 billion per year to small businesses for early-state and development projects.
A) SBTA Program
B) SBIR Program
C) SBAP Program
D) SAIR Program
E) SBTR Program
Q:
Prosper is the best known:
A) factor
B) provider of SBA guaranteed loans
C) peer-to-peer lending network
D) provider of vendor credit
E) crowdfunding network
Q:
According to a survey conducted by the National Small Business Association between August 2008 and December 2009, between ________ percent of business owners utilized vendor credit.
A) 12 and 18
B) 17 and 21
C) 22 and 29
D) 35 and 40
E) 52 and 58
Q:
Debt financing involves:
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 raising venture capital
E) getting a loan or selling corporate bonds
Q:
As part of drumming up support for an IPO, the investment bank typically takes the top management team of the firm wanting to go public on a ________, which is a whirlwind tour that consists of meetings in key cities where the firm presents its business plan to groups of investors.
A) pitch show
B) road show
C) pitch tour
D) road trip
E) tornado tour
Q:
Which of the following statement is not correct regarding business angels?
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.
E) Business angels are difficult to find.
Q:
Which of the following set of characteristics places a startup in the strongest position to apply for equity funding?
A) weak cash flow, high leverage, low-to-moderate growth, unproven management
B) strong cash flow, low leverage, audited financials, good management, healthy balance sheet
C) unique business idea, strong cash flow, low-to-moderate growth, broad market
D) strong cash flow, high leverage, low-to-moderate growth, unproven management
E) unique business idea, high growth, niche market, proven management