Exam 5: Entrepreneurial Marketing

The three primary types of sales promotion are consumer promotions, trade promotions, and sales force promotions.

What is the difference between price skimming and penetration pricing, and when will a skimming strategy be best? Why?

Which of the following is an approach to Guerrilla Marketing?

People usually use guerrilla tactics in wide-spread advertising, rather than in personal selling.

While segmentation profiles a company's customers, what does positioning outline?

Marketing is at the heart of an organization because its role is to identify and serve customers' needs.

If a company can cultivate brand equity, what type of price can it expect loyal customers to pay?

______ are key marketing dimensions that set the strategic framework.

Many entrepreneurs rely heavily on their cash expenditures to achieve a compelling image in a noisy marketplace.

In your own words, define "marketing".

The scope of marketing ranges only from advertising to promotion.

Entrepreneurs should not initially consider their resources and capabilities when first developing their marketing strategies.

Why is the marketing done by entrepreneurs different from marketing done by established companies?

Guerrilla marketing consists of activities that are non-traditional, grassroots, and captivating, which gain consumers' attention and build awareness of the company.

What might be some common marketing mistakes likely to be made by an entrepreneur who is part of a one or two person marketing team?

With all the discussion of the disadvantages an entrepreneur faces in marketing, what would be some of the advantages?

The stages of the product life cycle are introduction, growth, maturity, and introduction again.

Some methods employed to develop a "listening system" include:

Price discrimination happens when a company charges different prices to different ____ segments.

Price discrimination is a pricing strategy that: