Question 1

Brand awareness is created through a customer's exposure to what?

Accepted Answer

A) Advertising or publicity 
B) Social media 
C) Education 
D) Promotion 
E) Price reductions 
A) Advertising or publicity 
B) Social media 
C) Education 
D) Promotion 
E) Price reductions A

Question 2

Customer acquisition and retention are the core processes of marketing.

Accepted Answer

A) True 
 B)False  True

Question 3

Distribution channel strategy includes three types of channel coverage, please define them.

Accepted Answer

$\bullet$Distribution channel strategy includes three types of channel coverage: intensive, selective, and exclusive.The appropriate strategy depends on the type of product or service that entrepreneurs will sell.
$\bullet$Intensive coverage works for consumer goods and other fast-moving products.The carbonated soft drink category is one of the most intensively distributed: products are sold in supermarkets, drug stores, convenience stores, restaurants, vending machines, sporting event concessions, and fast food outlets.
$\bullet$Selective distribution brings the product to specific distributors, often limiting selection geographically by establishing a dealer network.Kate Spade sells her handbags and other fashion accessories to high-end department stores but not to mainstream retailers or mass merchandisers.Selective distribution can protect dealers and retailers from competition, while helping manufacturers maintain prices by thwarting price competition.
$\bullet$Exclusive distribution is often used for luxury products.For some time, Neiman-Marcus had exclusive rights to distribute the Hermes line of very high-end leather goods and fashion accessories.

Question 4

New ventures must differentiate their product or service to make its distinctiveness and value clear to customer.

Accepted Answer

A) True 
 B)False

Question 5

All entrepreneurs face the need for brand building, which is ___.

Accepted Answer

A) the task of building brand awareness. 
B) the task of building brand equity. 
C) the dual task of building brand awareness and building brand equity. 
D) building either brand awareness, or brand equity. 
E) the task of building other issues. 
A) the task of building brand awareness. 
B) the task of building brand equity. 
C) the dual task of building brand awareness and building brand equity. 
D) building either brand awareness, or brand equity. 
E) the task of building other issues.

Question 6

Describe how an entrepreneur may think about selected primary and secondary target audiences from a segmented market.
$\bullet$Consider how critical your value proposition is to the customer segment.Are you selling "oxygen or Tylenol?" How essential is your product or service to THIS segment?

Accepted Answer

@#LAT-DLM&Can you access this segment NOW? Do you

Question 7

Which of the following most directly affects revenue, profits, and how consumers perceive a product's position in the market?

Accepted Answer

A) Pricing 
B) Promotion 
C) Place 
D) Product 
E) None of the above 
A) Pricing 
B) Promotion 
C) Place 
D) Product 
E) None of the above

Question 8

What are the key skills for managing growth and why?

Accepted Answer

@#LAT-DLM&Two key areas for entrepreneurs to focus

Question 9

Brand equity is the combined result of brand awareness and brand image.

Accepted Answer

A) True 
 B)False

Question 10

For a rapidly growing company seeking greater growth, a large established channel partner who wishes to place large orders at high prices would seem like a great opportunity.What factors could make this a terrible idea for a new venture, that an entrepreneur must first look at?
$\bullet$Will you need to incur fixed costs to serve this channel partner, and what share of your present, and near-term revenue is this partner representing? This is necessary to avoid entering into a situation where your channel partners bargaining power is too great and where you will be unable to cover your fixed costs if they demand a lower price or volume in the future.

Accepted Answer

@#LAT-DLM&Does this channel partner compete with y

Question 11

What methods can an entrepreneur leverage to identify the most appropriate price for his or her product?

Accepted Answer

@#LAT-DLM&Cost-based pricing, competitive pricing,

Question 12

The attractiveness of a market segment is related to its size, growth rate, and ___.

Accepted Answer

A) cost 
B) price 
C) competitive advantage 
D) potential profit 
E) none of the above 
A) cost 
B) price 
C) competitive advantage 
D) potential profit 
E) none of the above

Question 13

Why is defining what guerrilla marketing does easier than defining what it is?

Accepted Answer

Guerrilla marketing is heard above the n

Question 14

Entrepreneurs market to which of the following audiences?

Accepted Answer

A) Investors 
B) Business partners 
C) Customers 
D) Employees 
E) All of the above 
A) Investors 
B) Business partners 
C) Customers 
D) Employees 
E) All of the above

Question 15

The customer's direct experience with the brand has a strong effect on brand image.

Accepted Answer

A) True 
 B)False

Question 16

New ventures cannot survive in competition with larger corporations, since the latter can spend intimidating sums on marketing research, testing their strategies, or designing marketing campaigns.

Accepted Answer

A) True 
 B)False

Question 17

Why is marketing critical for entrepreneurs?

Accepted Answer

@#LAT-DLM&Marketing is a vital process for entrepr

Question 18

The communications mix includes

Accepted Answer

A) Advertising, cross selling, investor relations, personal selling, and direct marketing. 
B) Advertising, sales promotion, public relations, personal selling, and direct marketing. 
C) Sales promotion, advertising, consumer relations, multi-level reselling, personal selling. 
D) A and C only. 
E) A and B only. 
A) Advertising, cross selling, investor relations, personal selling, and direct marketing. 
B) Advertising, sales promotion, public relations, personal selling, and direct marketing. 
C) Sales promotion, advertising, consumer relations, multi-level reselling, personal selling. 
D) A and C only. 
E) A and B only.

Question 19

Guerilla marketing is, at its essence, an asymmetric manner of competing in which a low resource entrant seeks to outmatch competitors by concentrating creativity, boldness, agility, and local knowledge within their marketing methods that are practically (if not economically)difficult for larger competitors to imitate or keep pace with.

Accepted Answer

A) True 
 B)False

Question 20

In addition to acquiring and retaining customers, marketing serves the venture by function as its___.

Accepted Answer

A) Moral compass 
B) "Eyes and ears" in the marketplace 
C) Talent scouts. 
D) None of the above 
E) All of the above. 
A) Moral compass 
B) "Eyes and ears" in the marketplace 
C) Talent scouts. 
D) None of the above 
E) All of the above.

Brand awareness is created through a customer's exposure to what?

Customer acquisition and retention are the core processes of marketing.

Distribution channel strategy includes three types of channel coverage, please define them.

New ventures must differentiate their product or service to make its distinctiveness and value clear to customer.

All entrepreneurs face the need for brand building, which is ___.

Describe how an entrepreneur may think about selected primary and secondary target audiences from a segmented market. $\bullet$ Consider how critical your value proposition is to the customer segment.Are you selling "oxygen or Tylenol?" How essential is your product or service to THIS segment?

Which of the following most directly affects revenue, profits, and how consumers perceive a product's position in the market?

What are the key skills for managing growth and why?

Brand equity is the combined result of brand awareness and brand image.

What methods can an entrepreneur leverage to identify the most appropriate price for his or her product?

The attractiveness of a market segment is related to its size, growth rate, and ___.

Why is defining what guerrilla marketing does easier than defining what it is?

Entrepreneurs market to which of the following audiences?

The customer's direct experience with the brand has a strong effect on brand image.

New ventures cannot survive in competition with larger corporations, since the latter can spend intimidating sums on marketing research, testing their strategies, or designing marketing campaigns.

Why is marketing critical for entrepreneurs?

The communications mix includes

In addition to acquiring and retaining customers, marketing serves the venture by function as its___.

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters

Exam 5: Entrepreneurial Marketing

Brand awareness is created through a customer's exposure to what?

Customer acquisition and retention are the core processes of marketing.

Distribution channel strategy includes three types of channel coverage, please define them.

New ventures must differentiate their product or service to make its distinctiveness and value clear to customer.

All entrepreneurs face the need for brand building, which is ___.

Describe how an entrepreneur may think about selected primary and secondary target audiences from a segmented market. ∙\bullet∙ Consider how critical your value proposition is to the customer segment.Are you selling "oxygen or Tylenol?" How essential is your product or service to THIS segment?

Which of the following most directly affects revenue, profits, and how consumers perceive a product's position in the market?

What are the key skills for managing growth and why?

Brand equity is the combined result of brand awareness and brand image.

What methods can an entrepreneur leverage to identify the most appropriate price for his or her product?

The attractiveness of a market segment is related to its size, growth rate, and ___.

Why is defining what guerrilla marketing does easier than defining what it is?

Entrepreneurs market to which of the following audiences?

The customer's direct experience with the brand has a strong effect on brand image.

New ventures cannot survive in competition with larger corporations, since the latter can spend intimidating sums on marketing research, testing their strategies, or designing marketing campaigns.

Why is marketing critical for entrepreneurs?

The communications mix includes

In addition to acquiring and retaining customers, marketing serves the venture by function as its___.

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters

Describe how an entrepreneur may think about selected primary and secondary target audiences from a segmented market. $\bullet$ Consider how critical your value proposition is to the customer segment.Are you selling "oxygen or Tylenol?" How essential is your product or service to THIS segment?