According to the chapter Strategic Focus, entrepreneurs are identifying ways to use social networking sites such as Facebook for business purposes. All of the following are examples of these business purposes EXCEPT
a. Identification of new and different markets for existing and new product ideas.
b. To identify potential new employees.
c. Provision of venture capital to new entrepreneurial firms.
d. To provide access to new ideas and information that can be useful to solving problems and making strategic decisions.
Answer: c. Provision of venture capital to new entrepreneurial firms.
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Identify the correct statement about marketing management
A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
Calculate the percent gross profit for a company if the sales revenue generated is $200 million, and the firm sells 60 products that cost $2 million each to produce
A) 20% B) 40% C) 50% D) 60% E) 80%