Foods 2 - Obj 12.02

Sales projections or forecasting may be done after conducting a:
1. Consumer survey.
2. Feasibility analysis.
3. Market analysis.
4. Quality analysis.
Even though very expensive initially, which production area can cut production time, reduces errors, and simplifies procedures?
1. Automation
2. Maintenance
3. Productivity
4. Scheduling
Which is not foundation skill needed to be a successful entrepreneur?
1. Communication and math skills
2. Person appearance
3. Poor self-confidence
4. Technology
Which is a policy?
1. General operations
2. General statements of intent
3. Rules that govern
4. Situations among employees
What should be created to find out about competition in the market place?
1. Competitive grid
2. Customer sheet
3. Distribution sheet
4. Feasibility study
A feasibility analysis determines if:
1. A business plan is necessary.
2. An idea is practical.
3. Customers will buy the product.
4. The money is available to start a new business.
Finding a “niche” in the market demonstrates that a business has a:
1. Large segment of the market whose needs are being met.
2. New marketing idea.
3. Place to enter the market.
4. Small segment of the market whose needs are being met.
What is a new business idea that can be tested before starting up the business?
1. Business concept
2. Business plan
3. Market survey
4. Vision
Who are the people most likely to buy a specific product or service?
1. Buyers
2. Consumers
3. Customers
4. Target customers
What is the process used to test a business idea or concept?
1. Business concept
2. Business plan
3. Feasibility analysis
4. Market survey
What is the result of exploring whether a product or business service is feasible?
1. Decision if business is possible or within reason
2. Double the money invested
3. Find a quick and easy business
4. Make a good business plan
What determines if an idea for a new product or business is practical?
1. Business plan
2. Capitalism
3. Feasibility analysis
4. Marketing plan
To set goals for a school-based enterprise, select a product or service that will be:
1. Accepted by the entire student body.
2. Approved by every class member.
3. Hard and complicated to do.
4. Inexpensive and easy to do.
What is a working model of a product?
1. Production model
2. Prototype
3. Sample
4. Target product
Before developing a new product or service for sale, determine that there is:
1. A demand for the product.
2. A niche in the market.
3. Enough inventory available.
4. Opportunity for sales.
Before offering a service or product for sale, determine that there is:
1. A demand for the product.
2. A niche in the market.
3. Enough inventory available.
4. Opportunity for sales.
Product standards are developed to benefit the:
1. Investor.
2. Consumer.
3. Entrepreneur.
4. Small business owner.

Foods 2 - Obj 12.02

Quiz