Business: Marketing And Pricing Power! Trivia Quiz

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Business: Marketing And Pricing Power! Trivia Quiz

Marketing is an important function in any business; not only does it ensure that your product and services are still relevant, but it also helps you to gain new customers. One of the tools that markers use to attract new clients is comparing the firm with its competitors, and this can be on how they price their goods. Take this marketing and pricing power quiz to see how you understand this skill.


Questions and Answers
  • 1. 
    Generally speaking, which of the following businesses would be easier to start and command better pricing power?
    • A. 

      Operating a self-service gas station.

    • B. 

      Selling special candies prepared with your grandmother's proprietary recipe

  • 2. 
    The most common mistake made by entrepreneurs is not having sufficient money. True or False?
    • A. 

      True

    • B. 

      False

  • 3. 
    The safest approach to test your understanding of your market is to:
    • A. 

      Rely on your personal instinct.

    • B. 

      Conduct a survey among your friends.

    • C. 

      Test market your product or service.

  • 4. 
    To overcome the common stumbling block of not preparing a business plan, it helps to:
    • A. 

      Complete the plan for each session as you proceed.

    • B. 

      Have your business plan completed before proceeding.

    • C. 

      Prepare your plan after you have completed this course.

  • 5. 
    A partnership buy-sell agreement is usually funded by:
    • A. 

      Your banker

    • B. 

      Your lawyer

    • C. 

      Life insurance

    • D. 

      Your accountant