Question 1

Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores. The firm's marketing philosophy is

Accepted Answer

A)  consumer-oriented. 
B)  market-oriented. 
C)  production-oriented. 
D)  sales-oriented. 
A)  consumer-oriented. 
B)  market-oriented. 
C)  production-oriented. 
D)  sales-oriented.

Question 2

Traditionally, marketing philosophies have been categorized as

Accepted Answer

A)  consumer-oriented and market-oriented. 
B)  consumer-oriented, product-oriented, market-oriented, and volume-oriented. 
C)  consumer-oriented, market-oriented, sales-oriented, and process-oriented. 
D)  consumer-oriented, production-oriented, and sales-oriented. 
A)  consumer-oriented and market-oriented. 
B)  consumer-oriented, product-oriented, market-oriented, and volume-oriented. 
C)  consumer-oriented, market-oriented, sales-oriented, and process-oriented. 
D)  consumer-oriented, production-oriented, and sales-oriented.

Question 3

A market is best defined as a geographical area that is of commercial interest to the entrepreneur.

Accepted Answer

A) True 
 B)False

Question 4

Shiloh is attempting to keep in touch with industry trends. Her best option is

Accepted Answer

A)  through contacts with appropriate trade associations. 
B)  frequent meetings with her accountant. 
C)  through in-person interviews. 
D)  to prepare a sales forecast. 
A)  through contacts with appropriate trade associations. 
B)  frequent meetings with her accountant. 
C)  through in-person interviews. 
D)  to prepare a sales forecast.

Question 5

Match the term with its definition.
-A description of potential customers in a target market

Accepted Answer

A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables 
A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables

Question 6

Match the term with its definition.
-The basic product and/or service plus any extra or unsolicited benefits to the consumer that may prompt a purchase

Accepted Answer

A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables 
A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables

Question 7

Match the term with its definition.
-The gathering, processing, interpreting, and reporting of market information

Accepted Answer

A) benefit variables 
B) customer acquisition costs 
C) market 
D) market analysis 
E) market segmentation
F)marketing mix
G)marketing research
H)multisegment strategy
I)single-segment strategy
J)unsegmented strategy (mass marketing) 
A) benefit variables 
B) customer acquisition costs 
C) market 
D) market analysis 
E) market segmentation
F)marketing mix
G)marketing research
H)multisegment strategy
I)single-segment strategy
J)unsegmented strategy (mass marketing)

Question 8

A SWOT analysis should tell an entrepreneur

Accepted Answer

A)  what actions he or she might take to avoid a threat. 
B)  where the business stands relative to the competition. 
C)  how competitors are likely to react when a new marketing tactic is tried. 
D)  All of these are correct. 
A)  what actions he or she might take to avoid a threat. 
B)  where the business stands relative to the competition. 
C)  how competitors are likely to react when a new marketing tactic is tried. 
D)  All of these are correct.

Question 9

All of the following are major components of the marketing plan EXCEPT

Accepted Answer

A)  market segmentation. 
B)  the competition. 
C)  marketing strategy. 
D)  market analysis. 
A)  market segmentation. 
B)  the competition. 
C)  marketing strategy. 
D)  market analysis.

Question 10

A small business typically conducts less marketing research than a big business, partly because the entrepreneur does not understand the basic research process.

Accepted Answer

A) True 
 B)False

Question 11

_____ and _____ are questioning methods that involve contact with respondents.

Accepted Answer

A)  Questionnaires; telemarketing 
B)  Observations; surveys 
C)  Mystery shopping; surveys 
D)  Surveys; focus groups 
A)  Questionnaires; telemarketing 
B)  Observations; surveys 
C)  Mystery shopping; surveys 
D)  Surveys; focus groups

Question 12

Paul is a certified public accountant (CPA). He offers a variety of services depending on the needs of his customers. Some hire him to perform bookkeeping activities; others have him prepare their tax return. Paul's market is segmented based on

Accepted Answer

A)  benefit variables. 
B)  demographic variables. 
C)  income levels. 
D)  basic needs. 
A)  benefit variables. 
B)  demographic variables. 
C)  income levels. 
D)  basic needs.

Question 13

Match the term with its definition.
-A prediction of how much of a product or service can be sold within a given market during a specified time period

Accepted Answer

A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables 
A) actual product/service 
B) augmented product/service 
C) core product/service 
D) customer profile 
E) demographic variables
F)marketing
G)primary data
H)sales forecast
I)secondary data
J)segmentation variables

Question 14

Small business marketing is best defined as the performance of distribution activities that affect the flow of goods and services from producer to consumer or user.

Accepted Answer

A) True 
 B)False

Question 15

Techniques used in accumulating primary data are often classified as _____ and _____ methods.

Accepted Answer

A)  internal; external 
B)  observational; questioning 
C)  exploratory; descriptive 
D)  focus; comprehensive 
A)  internal; external 
B)  observational; questioning 
C)  exploratory; descriptive 
D)  focus; comprehensive

Question 16

Due to the high costs, new ventures seldom use established intermediaries to handle the distribution of their product.

Accepted Answer

A) True 
 B)False

Question 17

What techniques are used in collecting primary data? Give examples to support the answer.

Accepted Answer

Observational methods and questioning me

Question 18

John, a car repair shop owner, is developing the warranty and repair policies for his business. Which of the following sections of the marketing strategy is he addressing?

Accepted Answer

A)  Promotion section 
B)  Product and/or service section 
C)  Distribution section 
D)  Pricing section 
A)  Promotion section 
B)  Product and/or service section 
C)  Distribution section 
D)  Pricing section

Question 19

A simple but effective form of observational research is

Accepted Answer

A)  focus groups. 
B)  questionnaires. 
C)  mystery shopping. 
D)  statistical analysis. 
A)  focus groups. 
B)  questionnaires. 
C)  mystery shopping. 
D)  statistical analysis.

Question 20

An unsegmented strategy assumes that

Accepted Answer

A)  individual market segments have different preferences. 
B)  customers in a market lack purchasing power. 
C)  all customers desire the same benefit from the product or service. 
D)  customers will buy regardless of whether they are motivated to do so. 
A)  individual market segments have different preferences. 
B)  customers in a market lack purchasing power. 
C)  all customers desire the same benefit from the product or service. 
D)  customers will buy regardless of whether they are motivated to do so.

Exam 7: The Marketing Plan

Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores. The firm's marketing philosophy is

Traditionally, marketing philosophies have been categorized as

A market is best defined as a geographical area that is of commercial interest to the entrepreneur.

Shiloh is attempting to keep in touch with industry trends. Her best option is

Match the term with its definition. -A description of potential customers in a target market

Match the term with its definition. -The basic product and/or service plus any extra or unsolicited benefits to the consumer that may prompt a purchase

Match the term with its definition. -The gathering, processing, interpreting, and reporting of market information

A SWOT analysis should tell an entrepreneur

All of the following are major components of the marketing plan EXCEPT

A small business typically conducts less marketing research than a big business, partly because the entrepreneur does not understand the basic research process.

_____ and _____ are questioning methods that involve contact with respondents.

Paul is a certified public accountant (CPA). He offers a variety of services depending on the needs of his customers. Some hire him to perform bookkeeping activities; others have him prepare their tax return. Paul's market is segmented based on

Match the term with its definition. -A prediction of how much of a product or service can be sold within a given market during a specified time period

Small business marketing is best defined as the performance of distribution activities that affect the flow of goods and services from producer to consumer or user.

Techniques used in accumulating primary data are often classified as _____ and _____ methods.

Due to the high costs, new ventures seldom use established intermediaries to handle the distribution of their product.

What techniques are used in collecting primary data? Give examples to support the answer.

John, a car repair shop owner, is developing the warranty and repair policies for his business. Which of the following sections of the marketing strategy is he addressing?

A simple but effective form of observational research is

An unsegmented strategy assumes that

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, Ethics, and Social Entrepreneurship

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Businesses

Professional Management and the Small Business

Managing Human Resources

Managing Small Business Operations

Managing the Firms Assets

Managing Risk

Filters

_ and _ are questioning methods that involve contact with respondents.

Techniques used in accumulating primary data are often classified as _ and _ methods.