Title: Unit 4 Quiz
Course: SLF 130 Marketing Practices for the Small Business > Section: SLF 130 Marketing Practices for the Small Business

Q: This term refers to the collection of activities that gather information about events and trends that occur outside of the organization but influence the decisions that are made by a small business.
- The 4 Ps of marketing
- Sustainable competitive advantage
- Recessionary or inflationary economic situations
- Environmental scanning
A: Environmental scanning

Q: When a company reviews events and situations happening in the environment around that affect the business, what is NOT one of the traditional choices that a thoughtful small business owner should consider?
- Do nothing, continue with plans as they are
- Be proactive
- React in a defensive manner to maintain sales or market position
- Overreact and do something very different
A: Overreact and do something very different

Q: “Gathering information about the environment is very time-consuming and costly and generally only large businesses can afford to do this type of research and analysis.”
- True
- False
A: False

Q: What sources can be utilized for gathering information about the marketplace, events, trends, competition, and the economic environment?
- Banks and bankers
- Organizations representing and supporting different types of industries
- Customers
- All of the above
A: All of the above

Q: Strengths (S) and weaknesses (W) refer to the ____________environment of a company while opportunities (O) and threats (T) refer to the ______________environment.
- External, internal
- Internal, external
A: Internal, external