Question 1

Creating buzz means creating awareness and a sense of anticipation about a company and its offerings.

Accepted Answer

A) True 
 B)False

Question 2

A firm's marketing mix consists of the following four elements:

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 3

A ________ is something that takes on a physical form, such as an MP3 player or a laptop computer. A ________ is an activity or benefit that is intangible, such as an airplane trip or advice from an attorney.

Accepted Answer

A)  product, service 
B)  service, component 
C)  component, service 
D)  formation, service 
E)  service, product 
A)  product, service 
B)  service, component 
C)  component, service 
D)  formation, service 
E)  service, product

Question 4

Yelp's phrase "Real People. Real Reviews" is an example of a:

Accepted Answer

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

Question 5

Karen Simon recently purchased a digital camera. She considered three cameras, a Kodak that was priced at $139.00, a Panasonic priced at $189.00, and a Nikon priced at $229.00. Karen couldn't tell much difference between the cameras, so he bought the Nikon, figuring that because it was the most expensive of the three, it must be the best. According to the textbook, Karen was making a:

Accepted Answer

A)  price-quality attribution 
B)  price-merit attribution 
C)  cost-value acknowledgement 
D)  cost-worth attribution 
E)  price-worth acknowledgement 
A)  price-quality attribution 
B)  price-merit attribution 
C)  cost-value acknowledgement 
D)  cost-worth attribution 
E)  price-worth acknowledgement

Question 6

Describe the concept of guerrilla marketing. Why is guerrilla market particularly suitable for entrepreneurial firms?

Accepted Answer

Guerrilla marketing is a low-budget appr

Question 7

It is better to emphasize a product or service's features rather than its benefits.

Accepted Answer

A) True 
 B)False

Question 8

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called:

Accepted Answer

A)  market positioning 
B)  market splitting 
C)  market targeting 
D)  market subdividing 
E)  market segmentation 
A)  market positioning 
B)  market splitting 
C)  market targeting 
D)  market subdividing 
E)  market segmentation

Question 9

When Hotmail first started distributing free e-mail accounts, it put a tagline on every message sent out by Hotmail users that read "Get free e-mail with Hotmail." This technique, which encouraged people to pass along Hotmail's marketing message to others, is called:

Accepted Answer

A)  echo marketing 
B)  duplicate marketing 
C)  infectious marketing 
D)  repeat marketing 
E)  viral marketing 
A)  echo marketing 
B)  duplicate marketing 
C)  infectious marketing 
D)  repeat marketing 
E)  viral marketing

Question 10

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 11

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

Accepted Answer

A) True 
 B)False

Question 12

It is more effective to sell:

Accepted Answer

A)  features rather than benefits 
B)  features and benefits are equal in their importance 
C)  features are more important for service firms and benefits are more important for manufacturing firms 
D)  benefits rather than features 
E)  features are more important for manufacturing firms and benefits are more important for service firms 
A)  features rather than benefits 
B)  features and benefits are equal in their importance 
C)  features are more important for service firms and benefits are more important for manufacturing firms 
D)  benefits rather than features 
E)  features are more important for manufacturing firms and benefits are more important for service firms

Question 13

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 14

Brenda Berry is thinking about starting a computer company. After doing some research, she has decided that the computer industry can be divided into the following product categories: hand-held computers, laptops, PCs, minicomputers, and mainframes. She is now trying to decide which product category she is the most interested in competing in. The process that Brenda is going through is called:

Accepted Answer

A)  market splitting 
B)  market subdividing 
C)  market segmentation 
D)  market dividing 
E)  market separating 
A)  market splitting 
B)  market subdividing 
C)  market segmentation 
D)  market dividing 
E)  market separating

Question 15

In value-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Accepted Answer

A) True 
 B)False

Creating buzz means creating awareness and a sense of anticipation about a company and its offerings.

A firm's marketing mix consists of the following four elements:

A is something that takes on a physical form, such as an MP3 player or a laptop computer. A is an activity or benefit that is intangible, such as an airplane trip or advice from an attorney.

Yelp's phrase "Real People. Real Reviews" is an example of a:

Describe the concept of guerrilla marketing. Why is guerrilla market particularly suitable for entrepreneurial firms?

It is better to emphasize a product or service's features rather than its benefits.

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called:

When Hotmail first started distributing free e-mail accounts, it put a tagline on every message sent out by Hotmail users that read "Get free e-mail with Hotmail." This technique, which encouraged people to pass along Hotmail's marketing message to others, is called:

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

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

It is more effective to sell:

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

In value-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Writing a Business Plan

Industry and Competitor Analysis

Developing an Effective Business Model

Preparing the Proper Ethical and Legal Foundation

Assessing a New Venture's 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

Creating buzz means creating awareness and a sense of anticipation about a company and its offerings.

A firm's marketing mix consists of the following four elements:

A ________ is something that takes on a physical form, such as an MP3 player or a laptop computer. A ________ is an activity or benefit that is intangible, such as an airplane trip or advice from an attorney.

Yelp's phrase "Real People. Real Reviews" is an example of a:

Describe the concept of guerrilla marketing. Why is guerrilla market particularly suitable for entrepreneurial firms?

It is better to emphasize a product or service's features rather than its benefits.

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called:

When Hotmail first started distributing free e-mail accounts, it put a tagline on every message sent out by Hotmail users that read "Get free e-mail with Hotmail." This technique, which encouraged people to pass along Hotmail's marketing message to others, is called:

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

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

It is more effective to sell:

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

In value-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Writing a Business Plan

Industry and Competitor Analysis

Developing an Effective Business Model

Preparing the Proper Ethical and Legal Foundation

Assessing a New Venture's 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

A is something that takes on a physical form, such as an MP3 player or a laptop computer. A is an activity or benefit that is intangible, such as an airplane trip or advice from an attorney.