Question 1

What is the purpose of layout planning in entrepreneurship?

Accepted Answer

To optimize the arrangement of physical space and resources for efficiency.

Answer

To determine the target market for the business.

Answer

To analyze the financial performance of the business.

Answer

To develop a marketing strategy for the business.

Question 2

What is the purpose of a store layout in retail entrepreneurship?

Accepted Answer

To enhance the customer shopping experience and increase sales.

Answer

To develop a pricing strategy for the products.

Answer

To analyze the financial performance of the business.

Answer

To hire and manage employees effectively.

Question 3

What is the purpose of conducting a feasibility study for site selection?

Accepted Answer

To evaluate the viability of a potential location for the business.

Answer

To create a marketing plan for the business.

Answer

To analyze the financial performance of the business.

Answer

To determine the target market for the business.

Question 4

What factors should be considered in site selection for a retail business?

Accepted Answer

Foot traffic, competition, and accessibility.

Answer

Inventory management, supply chain, and cost control.

Answer

Product pricing, marketing campaigns, and customer service.

Answer

Employee skills, organizational structure, and branding.

Question 5

What is the purpose of zoning regulations in site selection for a business?

Accepted Answer

To ensure compliance with land use regulations and maintain a harmonious community.

Answer

To analyze the financial performance of the business.

Answer

To develop a marketing strategy for the business.

Answer

To determine the target market for the business.

Question 6

What is the purpose of conducting a market analysis in site selection?

Accepted Answer

To assess the potential demand and competition in a specific location.

Answer

To analyze the financial performance of the business.

Answer

To determine the target market for the business.

Answer

To develop a pricing strategy for the products.

Question 7

Why is visibility important in site selection for a business?

Accepted Answer

To attract customers and create brand awareness.

Answer

To hire and manage employees effectively.

Answer

To analyze the financial performance of the business.

Answer

To develop a pricing strategy for the products.

Question 8

What is the purpose of conducting a competitive analysis in site selection?

Accepted Answer

To understand the existing competition in a specific location.

Answer

To determine the target market for the business.

Answer

To develop a pricing strategy for the products.

Answer

To analyze the financial performance of the business.

Question 9

What is the purpose of conducting a traffic analysis in site selection for a business?

Accepted Answer

To evaluate the level of customer exposure and accessibility.

Answer

To determine the target market for the business.

Answer

To develop a pricing strategy for the products.

Answer

To analyze the financial performance of the business.

Question 10

What is the importance of site selection in entrepreneurship?

Accepted Answer

It ensures that the business is located in an ideal location for success.

Answer

It helps in choosing the appropriate marketing channels for the business.

Answer

It helps in determining the pricing strategy for the products.

Answer

It helps in hiring the right employees for the business.

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