In franchising ______ pay fees and royalties to a _______ in return for the right to sell its product or services und the franchiser's trad name and often use its business format system.

Franchising is currently dominated by:

_____________ franchising exists when a frachisee is licensed to sell specific products under the franchiser's brand name throught a selective distribution system.

In _______ franchising, a franchisee purchases only the right to become identified with the franchiser's trade name.

_____________ franchising involves providing the franchisee with a complete busines system-- the established name, the building layout and design, accounting systems, etc.

Most gasoline products are sold throught the _______ system of franchising.

McDonald's is and example of a ______ franchise.

The success of franchising is largely due to:

McDonald's worldwide success as a franchise can be attributed to a few simple strategies,

A significant advantage a franchisee has over the independent small business owner is participation in the franchiser's ________.

In view of the cause of most new business failures, probably the most valuable service provided franchisees by the franchiser is:

The franchising boom spearheaded by ____ in the late 1950s brought with it many prime investment opportunities.

In franchising, the reputation of the franchiser is dependent on:

When buying and existing business, the potential buyer should remember that:

One advantage of buying an existing business is:

When it comes to buying an existing business, it is not uncommon to find it:

When buying an existing business, one should remember that:

The inventory in an existing busines:

Accounts receivalve in an existing business:

The first step and entrepeneur should take when acquiring an existing business is to:

Once an entrepreneur has evaluated him/herself the next step in the acquisition process would be to:

When conduction a self evaluation it is important to consider:

The biggest source for the best companies to buy is:

The process of gathering information about the company, valuing the company, and performing a detailed review of all records, agreements, and compliance is called:

When negotiating the deal, the most important thing to remember is:

Perhaps the ideal source of financing the purchase of an existing business is:

Which of the following statements concerning the financing of a business purchase is true?

For entrepreneurs, a business plan is:

A business plan performs a number of functions including:

The _____ becomes the document that summarizes the analysis that has been done to justify a new business.

A business plan:

A well-developed business plan provides the entrepreneur with a number of benefits, such as:

The primary purpose of building a business plan is to:

A business plan for the small business owner:

_____ is the process of creating and delivering desired goods and services to customers, and involves all of the activities associated with winning and retaining loyal customers.

Small businesses can compete with larger rivals with bigger budgets by employing unconventional, low-cost creative techniques known as:

The focus of the small company's marketing plan is:

The marketing plan builds a strategy for success:

The marketing plan should include certain key objectives, such as:

Shifting patterns in the age, income, education, race, and other characteristicsof the population are the subject of ______ and exert a potent force on a company's marketing plan.

A demographic trend is like a train for the small business owner in that:

Market Research:

Market research answers what important question for the small business onwer?

The primary goal of marketing research is to:

THe first, and most critical, step in conduction market research is to:

John wants to answer the question, "What drives my customers' buying behavior?"  The best information to adress this question comes from:

When it comes to gathering market research on customers, most small companies tend to be:

One-to-one marketing is a marketing strategy that:

For the results of market research to provide a solution to a small business onwner's problem:

Effective one-to-one marketing involves:

______ is a process in which computer software that uses statistical analysis, database technology, and artificial intelligence find hidden patterns, trends, and connections in data so that business owners can make better marketing decisions and predictions about customer's behavior.

Most marketing experts contend that the greatest marketing mistake small businesses make is:

When it comes to the target market, most succesful businesses:

The key to marketing success is:

ACT!, Clementine, DataScope Pro, GoldMine, MineSet, Nuggets are what type of software packages:

A company's competitive edge is:

A "natural" advantage small businesses have over large business, which can be a significant competitive advantage, is:

______ puts the customer at the center of a company's thinking, planning, and action and shifts the focus from a product or service to customers and their needs and wants.

______is the notion of drawing customers into a store by creating a kaleidscope of sights, sounds, smells, and activities, all designed to entertain-and, of course, sell.

The majority of customers who stop patronizing a particular store do so because:

In reality, advertising:

Tami is developing an advertising strategy fo her small business.  The first step in this process is to:

Effective ads are built on:

The most meaningful unique selling proposition:

The choice of advertising medium is primarily determined by:

There are a number of tips a small business owner can follow to build effective advertising including:

_____ is any commercial news covered by the media that boosts sales but for which the small business does not pay.

The Last Hole, a small golf shop, sponsors a hole-in-one contest in a golf tournament to raise money for charity.  Anyone scoring a hole-in-one on #16 wins a complete set of clubs; the golfer closest to the pin on #16 wins a golf wardrobe.  The Last Hole is the subject of several reports and stories in the local media.  This is an example of:

When Chapters, a small book store, brings in a famous author for a special autogtraph session promoting her latest book and gets her on the local radio station, Chapters is using;

A recent study of top salespeople found that they:

________ is any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor

The _______ cost of an advertising medium compares the actual dollar cost of an ad with the number of potential customers it reaches.

When selecting the advertising vehicle the small business owner should ask him/herself: