Question 1

Many startups emphasize advertising over public relations primarily because it's cheaper and helps build the firm's credibility.

Accepted Answer

A) True 
 B)False

Question 2

A firm's sales process ________.

Accepted Answer

A)  is typically not put in place until a year or more after a startup launches 
B)  describes its branding strategy 
C)  depicts the steps it goes through to identify prospects and close sales 
D)  describes its social media strategy 
E)  depicts the steps it goes through to identify its target market and positioning strategy 
A)  is typically not put in place until a year or more after a startup launches 
B)  describes its branding strategy 
C)  depicts the steps it goes through to identify prospects and close sales 
D)  describes its social media strategy 
E)  depicts the steps it goes through to identify its target market and positioning strategy

Question 3

Before Kimberly Campbell opened her jiffy print store, she processed several large print jobs for local merchants for free, to demonstrate the quality of her service and to solicit feedback. Two of the merchants wrote favorable reviews of Kimberly's service, and agreed to let Kimberly post the reviews on her company's Web site. The companies that wrote the favorable reviews are referred to as ________.

Accepted Answer

A)  appreciation reports 
B)  acknowledgement accounts 
C)  referent accounts 
D)  tribute reports 
E)  approval reports 
A)  appreciation reports 
B)  acknowledgement accounts 
C)  referent accounts 
D)  tribute reports 
E)  approval reports

Question 4

A product attribute map illustrates the strength of a firm's niche (or target) market relative to competing markets.

Accepted Answer

A) True 
 B)False

Question 5

The Google AdWords program allows advertisers to buy ads that will be shown on other Web sites instead of Google's Home Page.

Accepted Answer

A) True 
 B)False

Question 6

Nike's familiar phrase "Just do it" is an example of a(n) ________.

Accepted Answer

A)  attention-line 
B)  tagline 
C)  notice-line 
D)  catchline 
E)  grabline 
A)  attention-line 
B)  tagline 
C)  notice-line 
D)  catchline 
E)  grabline

Question 7

A niche market is a place within a market segment that represents a narrow group of customers with similar interests.

Accepted Answer

A) True 
 B)False

Question 8

What is a tagline? Provide an example of a popular tagline, and discuss why you think it has been effective.

Accepted Answer

Firms often develop a tagline to reinfor

Question 9

The amount of money consumers pay to buy a product is its ________.

Accepted Answer

A)  price 
B)  fee 
C)  value 
D)  cost 
E)  charge 
A)  price 
B)  fee 
C)  value 
D)  cost 
E)  charge

Question 10

A(n) ________ channel is a route a product takes from the place it is made to the customer who is the end user.

Accepted Answer

A)  trade 
B)  product 
C)  allotment 
D)  promotion 
E)  distribution 
A)  trade 
B)  product 
C)  allotment 
D)  promotion 
E)  distribution

Question 11

Broadway Dance Center in New York City targets serious dancers who aspire to earn a living dancing in Broadway plays. This specific portion of the overall dance industry is referred to as a ________ market.

Accepted Answer

A)  gap 
B)  task 
C)  position 
D)  hole 
E)  niche 
A)  gap 
B)  task 
C)  position 
D)  hole 
E)  niche

Question 12

The final step in the formal sales process described in the book is ________.

Accepted Answer

A)  qualify the lead 
B)  make the sales presentation 
C)  follow-up 
D)  closing the sale 
E)  meeting objections and concerns 
A)  qualify the lead 
B)  make the sales presentation 
C)  follow-up 
D)  closing the sale 
E)  meeting objections and concerns

Question 13

Real Time Cases, the company profiled in the opening feature in Chapter 11, sells live business cases for classroom use. According to the case, which of the following was NOT a marketing strategy for the firm?

Accepted Answer

A)  Attend trade conferences to meet CEOs. 
B)  Issue press releases through local and regional news outlets. 
C)  Apply for every start-up competition and pitch event available. 
D)  Reach out to personal networks. 
E)  All of the above were marketing strategies used by the firm. 
A)  Attend trade conferences to meet CEOs. 
B)  Issue press releases through local and regional news outlets. 
C)  Apply for every start-up competition and pitch event available. 
D)  Reach out to personal networks. 
E)  All of the above were marketing strategies used by the firm.

Question 14

A firm's marketing mix consists of ________.

Accepted Answer

A)  product, price, promotion, and place 
B)  passion, pride, promotion, and place 
C)  passion, pleasure, product, and price 
D)  enthusiasm, passion, product, and price 
E)  place, promotion, passion, and product 
A)  product, price, promotion, and place 
B)  passion, pride, promotion, and place 
C)  passion, pleasure, product, and price 
D)  enthusiasm, passion, product, and price 
E)  place, promotion, passion, and product

Question 15

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Accepted Answer

A)  conception 
B)  idea 
C)  formation 
D)  product 
E)  invention 
A)  conception 
B)  idea 
C)  formation 
D)  product 
E)  invention

Many startups emphasize advertising over public relations primarily because it's cheaper and helps build the firm's credibility.

A firm's sales process ________.

A product attribute map illustrates the strength of a firm's niche (or target) market relative to competing markets.

The Google AdWords program allows advertisers to buy ads that will be shown on other Web sites instead of Google's Home Page.

Nike's familiar phrase "Just do it" is an example of a(n) ________.

A niche market is a place within a market segment that represents a narrow group of customers with similar interests.

What is a tagline? Provide an example of a popular tagline, and discuss why you think it has been effective.

The amount of money consumers pay to buy a product is its ________.

A(n) ________ channel is a route a product takes from the place it is made to the customer who is the end user.

Broadway Dance Center in New York City targets serious dancers who aspire to earn a living dancing in Broadway plays. This specific portion of the overall dance industry is referred to as a ________ market.

The final step in the formal sales process described in the book is ________.

Real Time Cases, the company profiled in the opening feature in Chapter 11, sells live business cases for classroom use. According to the case, which of the following was NOT a marketing strategy for the firm?

A firm's marketing mix consists of ________.

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

Exam 11: Unique Marketing Issues

Many startups emphasize advertising over public relations primarily because it's cheaper and helps build the firm's credibility.

A firm's sales process ________.

A product attribute map illustrates the strength of a firm's niche (or target) market relative to competing markets.

The Google AdWords program allows advertisers to buy ads that will be shown on other Web sites instead of Google's Home Page.

Nike's familiar phrase "Just do it" is an example of a(n) ________.

A niche market is a place within a market segment that represents a narrow group of customers with similar interests.

What is a tagline? Provide an example of a popular tagline, and discuss why you think it has been effective.

The amount of money consumers pay to buy a product is its ________.

A(n) ________ channel is a route a product takes from the place it is made to the customer who is the end user.

Broadway Dance Center in New York City targets serious dancers who aspire to earn a living dancing in Broadway plays. This specific portion of the overall dance industry is referred to as a ________ market.

The final step in the formal sales process described in the book is ________.

Real Time Cases, the company profiled in the opening feature in Chapter 11, sells live business cases for classroom use. According to the case, which of the following was NOT a marketing strategy for the firm?

A firm's marketing mix consists of ________.

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters