21. Listening people and businesses who might give money to start the business, completing an application for a busines

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21. Listening people and
businesses who might give money to start the business,
completing an application for a business loan at the bank, and
advertising for people to work in the new business are all
classified as which stage of the entrepreneurial process.
a) discovery
b) concept development
c) resourcing
d) actualization
22. A marketing plan should
a) all of the above
b) determine customer needs and wants
thought market search
c) create a marketing mix that meets
customers needs and wants
d) analyze the firm’s competitive
advantages and build a marketing strategy around them
e) pinpoint specific target markets
the company will serve.
23. Which of the following are
assets
a) money
b) a car
c) time
d) all of the above
24. The first step in the market
research process is to
a) determine the relevant
information
b) collect data
c) define the problem
d) design the research