Question 1

The purpose of loss-leader pricing is to

Accepted Answer

A) gain market share. 
B) maximize profit. 
C) allow for future price increases. 
D) attract customers to new products. 
A) gain market share. 
B) maximize profit. 
C) allow for future price increases. 
D) attract customers to new products. D

Question 2

A candy bar that is purchased at the checkout lane is an example of a _____ good.

Accepted Answer

A) convenience 
B) shopping 
C) specialty 
D) generic 
A) convenience 
B) shopping 
C) specialty 
D) generic A

Question 3

The first step in marketing research is to gather primary data.

Accepted Answer

A) True 
 B)False  False

Question 4

The purpose of marketing research is to

Accepted Answer

A) gain customers. 
B) identify customers. 
C) fulfill customer needs. 
D) develop new products. 
A) gain customers. 
B) identify customers. 
C) fulfill customer needs. 
D) develop new products.

Question 5

Only major strategic decisions need to be supported through marketing research.

Accepted Answer

A) True 
 B)False

Question 6

The sales-driven philosophy

Accepted Answer

A) is based on the belief that you must "produce efficiently and worry about sales later." 
B) relies on research to discover consumer preferences before production begins. 
C) focuses on personal selling and advertising to persuade customers to buy the company's output. 
D) is strictly cost-driven. 
A) is based on the belief that you must "produce efficiently and worry about sales later." 
B) relies on research to discover consumer preferences before production begins. 
C) focuses on personal selling and advertising to persuade customers to buy the company's output. 
D) is strictly cost-driven.

Question 7

Which of the following is not a method of collecting primary data?

Accepted Answer

A) review of government publications 
B) telephone 
C) mail survey 
D) observation 
A) review of government publications 
B) telephone 
C) mail survey 
D) observation

Question 8

Skimming is setting the price to

Accepted Answer

A) maximize profit. 
B) maximize market share. 
C) switch customers to new product lines. 
A) maximize profit. 
B) maximize market share. 
C) switch customers to new product lines.

Question 9

Which of the following statements about entrepreneurial marketing is not true?

Accepted Answer

A) In entrepreneurial marketing, customers actively define the product. 
B) In entrepreneurial marketing, actions are constrained by resources currently controlled. 
C) In entrepreneurial marketing, marketers seek sustainable advantage through value-creating innovation. 
D) In terms of risk perspective, entrepreneurial marketers seek ways to mitigate, stage, or share risks. 
A) In entrepreneurial marketing, customers actively define the product. 
B) In entrepreneurial marketing, actions are constrained by resources currently controlled. 
C) In entrepreneurial marketing, marketers seek sustainable advantage through value-creating innovation. 
D) In terms of risk perspective, entrepreneurial marketers seek ways to mitigate, stage, or share risks.

Question 10

A market is a

Accepted Answer

A) group of consumers who have purchasing power and unsatisfied needs. 
B) way of gaining consumer data. 
C) segment of the economy. 
D) group of known purchasers. 
A) group of consumers who have purchasing power and unsatisfied needs. 
B) way of gaining consumer data. 
C) segment of the economy. 
D) group of known purchasers.

Question 11

Customizable links to which of the 4Ps of marketing?

Accepted Answer

A) place 
B) product 
C) price 
D) promotion 
A) place 
B) product 
C) price 
D) promotion

Question 12

Most firms generally gather primary data and then see if there are secondary data to supplement it.

Accepted Answer

A) True 
 B)False

Question 13

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except

Accepted Answer

A) relevancy. 
B) control versus contributions. 
C) trust building. 
D) two-way communication. 
A) relevancy. 
B) control versus contributions. 
C) trust building. 
D) two-way communication.

Question 14

Which of the following parts of the marketing plan emphasizes the factors that contribute to a firm's competitive edge?

Accepted Answer

A) appraisal of marketing strengths and weaknesses 
B) development of marketing strategies 
C) setting of pricing structures 
D) conducting market research 
A) appraisal of marketing strengths and weaknesses 
B) development of marketing strategies 
C) setting of pricing structures 
D) conducting market research

Question 15

Which of the following is a marketing philosophy that focuses on research?

Accepted Answer

A) computer-driven philosophy 
B) sales-driven philosophy 
C) consumer-driven philosophy 
D) cost-driven philosophy 
A) computer-driven philosophy 
B) sales-driven philosophy 
C) consumer-driven philosophy 
D) cost-driven philosophy

Question 16

Shopping goods are products that consumers take time to examine carefully and compare for quality and price.

Accepted Answer

A) True 
 B)False

Question 17

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy.
​

Accepted Answer

A) True 
 B)False

Question 18

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location.

Accepted Answer

A) True 
 B)False

Question 19

Secondary data consist of

Accepted Answer

A) internal data only. 
B) external data only. 
C) existing information. 
D) newly developed primary research. 
A) internal data only. 
B) external data only. 
C) existing information. 
D) newly developed primary research.

Question 20

Which of the following is not a key factor affecting a marketing information system?

Accepted Answer

A) size of the system 
B) usefulness or understandability of data 
C) system cost 
D) data relevancy 
A) size of the system 
B) usefulness or understandability of data 
C) system cost 
D) data relevancy

The purpose of loss-leader pricing is to

A candy bar that is purchased at the checkout lane is an example of a _____ good.

The first step in marketing research is to gather primary data.

The purpose of marketing research is to

Only major strategic decisions need to be supported through marketing research.

The sales-driven philosophy

Which of the following is not a method of collecting primary data?

Skimming is setting the price to

Which of the following statements about entrepreneurial marketing is not true?

A market is a

Customizable links to which of the 4Ps of marketing?

Most firms generally gather primary data and then see if there are secondary data to supplement it.

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except

Which of the following parts of the marketing plan emphasizes the factors that contribute to a firm's competitive edge?

Which of the following is a marketing philosophy that focuses on research?

Shopping goods are products that consumers take time to examine carefully and compare for quality and price.

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy.

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location.

Secondary data consist of

Which of the following is not a key factor affecting a marketing information system?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Exam 10: Marketing Research for Entrepreneurial Ventures

The purpose of loss-leader pricing is to

A candy bar that is purchased at the checkout lane is an example of a _____ good.

The first step in marketing research is to gather primary data.

The purpose of marketing research is to

Only major strategic decisions need to be supported through marketing research.

The sales-driven philosophy

Which of the following is not a method of collecting primary data?

Skimming is setting the price to

Which of the following statements about entrepreneurial marketing is not true?

A market is a

Customizable links to which of the 4Ps of marketing?

Most firms generally gather primary data and then see if there are secondary data to supplement it.

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except

Which of the following parts of the marketing plan emphasizes the factors that contribute to a firm's competitive edge?

Which of the following is a marketing philosophy that focuses on research?

Shopping goods are products that consumers take time to examine carefully and compare for quality and price.

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy. ​

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location.

Secondary data consist of

Which of the following is not a key factor affecting a marketing information system?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy.