Question 1

Entrepreneurs must obtain information that will allow them to understand consumer buying behavior and customer expectations related to:

Accepted Answer

A) Product design, pricing, and distribution 
B) Product design, pricing, or distribution 
C) Product design or pricing 
D) Pricing and distribution 
E) Pricing or distribution 
A) Product design, pricing, and distribution 
B) Product design, pricing, or distribution 
C) Product design or pricing 
D) Pricing and distribution 
E) Pricing or distribution

Question 2

Marketing helps entrepreneurs acquire resources by selling their ideas to potential investors and partners.

Accepted Answer

A) True 
 B)False

Question 3

Why must a company continue new product development even after launching a successful product into the market?

Accepted Answer

A) To gain an advertising advantage 
B) Competition 
C) To keep the firm profitable 
D) To ensure maturity in the market 
E) Both B & C 
A) To gain an advertising advantage 
B) Competition 
C) To keep the firm profitable 
D) To ensure maturity in the market 
E) Both B & C

Question 4

The selection of a company's key communication tools is determined by:

Accepted Answer

A) Cost 
B) Target market 
C) Timing 
D) All of the above 
E) None of the above 
A) Cost 
B) Target market 
C) Timing 
D) All of the above 
E) None of the above

Question 5

Distribution is not as problematic for service-based ventures as it is for those that manufacture goods.

Accepted Answer

A) True 
 B)False

Question 6

What is guerrilla marketing, and what are the main categories of guerilla marketing?

Accepted Answer

@#LAT-DLM&Guerrilla marketing consists of activiti

Question 7

Channel partnerships and relationships have important implications for entrepreneurs.In fact, the channel member with the most power will often prevail in a competitive market.

Accepted Answer

A) True 
 B)False

Question 8

______ is the customer's ability to recognize and recall the brand.

Accepted Answer

A) Technique awareness 
B) Brand awareness 
C) Value awareness 
D) All of the above 
E) None of the above 
A) Technique awareness 
B) Brand awareness 
C) Value awareness 
D) All of the above 
E) None of the above

Question 9

Customer understanding enables the entrepreneur to ______:

Accepted Answer

A) create value. 
B) capture value. 
C) communicate value. 
D) deliver value. 
E) All of the above 
A) create value. 
B) capture value. 
C) communicate value. 
D) deliver value. 
E) All of the above

Question 10

The marketing of products and services are similar.

Accepted Answer

A) True 
 B)False

Question 11

Marketing communications convey messages to the market; messages about the company's products and services, as well as about the company itself.

Accepted Answer

A) True 
 B)False

Question 12

Positioning describes a company's offering relative to the product attributes that are most important to whom?

Accepted Answer

A) Investors 
B) Shareholders 
C) Competitors 
D) Customers 
E) Marketers 
A) Investors 
B) Shareholders 
C) Competitors 
D) Customers 
E) Marketers

Question 13

During the introduction phase of the product life cycle, marketers must cultivate customer loyalty and build the brand.

Accepted Answer

A) True 
 B)False

Question 14

Early stage companies often find it necessary to scale up or change focus.

Accepted Answer

A) True 
 B)False

Question 15

Studies show that accurate pre-venture market analysis can reduce the failure rates of new ventures by what percent?

Accepted Answer

A) 10% 
B) 30% 
C) 60% 
D) 80% 
E) 95% 
A) 10% 
B) 30% 
C) 60% 
D) 80% 
E) 95%

Question 16

The cost-based method of pricing is marking up a product based on its cost plus a desired profit margin.

Accepted Answer

A) True 
 B)False

Question 17

An important part of gaining the market's acceptance is___.

Accepted Answer

A) Building brand awareness 
B) Reducing the product's cost of goods sold 
C) Franchising the brand 
D) Building celebrity client network 
E) None of the above. 
A) Building brand awareness 
B) Reducing the product's cost of goods sold 
C) Franchising the brand 
D) Building celebrity client network 
E) None of the above.

Question 18

A segment is a group of customers defined by certain commonalities or characteristics that may be demographic, psychographic, or behavioral.

Accepted Answer

A) True 
 B)False

Question 19

It is difficult for small companies to save money on "media buys" because ___.

Accepted Answer

A) they do not have a large enough advertising expenditure. 
B) their marketing is not creative enough to generate viral exposure. 
C) their product mix is too diverse. 
D) they are the first in a new market. 
E) None of the above. 
A) they do not have a large enough advertising expenditure. 
B) their marketing is not creative enough to generate viral exposure. 
C) their product mix is too diverse. 
D) they are the first in a new market. 
E) None of the above.

Question 20

What type of strategy aims to proactively move the volume of products through the channel using tools such as trade promotions, trade shows, and personal selling to distributors?

Accepted Answer

A) Pull strategy 
B) Push strategy 
C) Penetration pricing 
D) Product differentiation 
E) None of the above 
A) Pull strategy 
B) Push strategy 
C) Penetration pricing 
D) Product differentiation 
E) None of the above

Entrepreneurs must obtain information that will allow them to understand consumer buying behavior and customer expectations related to:

Marketing helps entrepreneurs acquire resources by selling their ideas to potential investors and partners.

Why must a company continue new product development even after launching a successful product into the market?

The selection of a company's key communication tools is determined by:

Distribution is not as problematic for service-based ventures as it is for those that manufacture goods.

What is guerrilla marketing, and what are the main categories of guerilla marketing?

Channel partnerships and relationships have important implications for entrepreneurs.In fact, the channel member with the most power will often prevail in a competitive market.

______ is the customer's ability to recognize and recall the brand.

Customer understanding enables the entrepreneur to ______:

The marketing of products and services are similar.

Marketing communications convey messages to the market; messages about the company's products and services, as well as about the company itself.

Positioning describes a company's offering relative to the product attributes that are most important to whom?

During the introduction phase of the product life cycle, marketers must cultivate customer loyalty and build the brand.

Early stage companies often find it necessary to scale up or change focus.

Studies show that accurate pre-venture market analysis can reduce the failure rates of new ventures by what percent?

The cost-based method of pricing is marking up a product based on its cost plus a desired profit margin.

An important part of gaining the market's acceptance is___.

A segment is a group of customers defined by certain commonalities or characteristics that may be demographic, psychographic, or behavioral.

It is difficult for small companies to save money on "media buys" because ___.

What type of strategy aims to proactively move the volume of products through the channel using tools such as trade promotions, trade shows, and personal selling to distributors?

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

Entrepreneurs must obtain information that will allow them to understand consumer buying behavior and customer expectations related to:

Marketing helps entrepreneurs acquire resources by selling their ideas to potential investors and partners.

Why must a company continue new product development even after launching a successful product into the market?

The selection of a company's key communication tools is determined by:

Distribution is not as problematic for service-based ventures as it is for those that manufacture goods.

What is guerrilla marketing, and what are the main categories of guerilla marketing?

Channel partnerships and relationships have important implications for entrepreneurs.In fact, the channel member with the most power will often prevail in a competitive market.

______ is the customer's ability to recognize and recall the brand.

Customer understanding enables the entrepreneur to ______:

The marketing of products and services are similar.

Marketing communications convey messages to the market; messages about the company's products and services, as well as about the company itself.

Positioning describes a company's offering relative to the product attributes that are most important to whom?

During the introduction phase of the product life cycle, marketers must cultivate customer loyalty and build the brand.

Early stage companies often find it necessary to scale up or change focus.

Studies show that accurate pre-venture market analysis can reduce the failure rates of new ventures by what percent?

The cost-based method of pricing is marking up a product based on its cost plus a desired profit margin.

An important part of gaining the market's acceptance is___.

A segment is a group of customers defined by certain commonalities or characteristics that may be demographic, psychographic, or behavioral.

It is difficult for small companies to save money on "media buys" because ___.

What type of strategy aims to proactively move the volume of products through the channel using tools such as trade promotions, trade shows, and personal selling to distributors?

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