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Personal Finance Domain 2 Packet Questions and Answers
A target market identifies the ____________ to
which a company markets its products and
services - ANSWER -Customer group
A value proposition is a statement that explains
_______a customer should do business with a
company. - ANSWER -Why
Primary data is more ____________and reliable
compared to secondary data. - ANSWER -
accurate
Secondary data often contains __________ -
ANSWER -personal bias
A ____________ competitor is a business that
sells similar products or services as another
business. - ANSWER -Direct
A ___________competitor is a business that
sells different products or services but is similar
enough to be
competitive with another business. -
ANSWER -Indirect
A SWOT analysis documents a company's
strengths, weaknesses, ___________, and
threats - ANSWER -Opportunity
Financial limitations would be an example of a
__________ in a SWOT analysis -
ANSWER -Weakness
Mark designs logos for businesses in his city. He
mostly works with local bakeries. What is Mark's
target market?
A. Females, ages 13-19
B. Males, ages 20-40
C. Kids, ages 2-12
D. Adults, ages 25-60 - ANSWER -D.
Adults, ages 25-60
Josie is a teenage girl who wants to start a
jewelry-making business. Her target market is
females, ages 10-14.
What price should she charge per necklace that
she sells?
A. Between one and ten dollars
B. Between ten and twenty dollars
C. Between twenty and thirty dollars
D. Between thirty and forty dollars -
ANSWER -A. Between one and ten dollars
A focus group was formed to provide opinions for
a target market. What type of data is being
collected from the focus group? -
ANSWER -Primary data
An internet article about fashion trends seen in
Europe was used to select inventory for a small
boutique. What type of data was used in this
scenario? - ANSWER -Secondary data
A __________ _______ states why a customer
should do business with a company. -
ANSWER -value proposition
A marketing method that uses customized
newsletters to engage with customers is
_____________ - ANSWER -Email
A marketing method that uses ads on a website
within a search engine is __________ advertising
- ANSWER -Pay per click (PPC)
