Question 1

One-to-one marketing is a marketing strategy that:

Accepted Answer

A) gathers data on individual customers and then tailors an appeal to their needs and tastes. 
B) uses technology to make customers feel like they are being treated special. 
C) focuses on the use of personal selling and consultative advising of customers. 
D) relies heavily on geographic data but ignores demographic and psychographic data. 
A) gathers data on individual customers and then tailors an appeal to their needs and tastes. 
B) uses technology to make customers feel like they are being treated special. 
C) focuses on the use of personal selling and consultative advising of customers. 
D) relies heavily on geographic data but ignores demographic and psychographic data.

Question 2

What characterizes companies that "get it right the first time," that have an emphasis on quality?

Accepted Answer

The key to developing a successful TQM p

Question 3

TCM focuses solely on reducing administrative time in product development.

Accepted Answer

A) True 
 B)False

Question 4

Numerous surveys have concluded that the most important element of service is:

Accepted Answer

A) the personal touch. 
B) convenient business hours. 
C) speedy transactions. 
D) innovative product design. 
A) the personal touch. 
B) convenient business hours. 
C) speedy transactions. 
D) innovative product design.

Question 5

A ________ is a small number of customers who give you feedback on specific issues in your business-quality,convenience,hours of operation,service,and so on.

Accepted Answer

A) survey 
B) questionnaire 
C) focus group 
D) All of the above 
A) survey 
B) questionnaire 
C) focus group 
D) All of the above

Question 6

Tracking demographic trends is interesting,but it is not essential to building or implementing a successful marketing plan.

Accepted Answer

A) True 
 B)False

Question 7

Small companies are at a definite disadvantage compared to larger ones when it comes to conducting market research since it is so expensive.

Accepted Answer

A) True 
 B)False

Question 8

A free trial offer is an example of non-price competitive factor.

Accepted Answer

A) True 
 B)False

Question 9

What can an entrepreneur do to be more effective at innovation?

Accepted Answer

Innovation is the key to future success.

Question 10

One of the most commonly cited reasons for a new product failing is that it is not adequately differentiated from competitive products.

Accepted Answer

A) True 
 B)False

Question 11

Price is the safest criterion upon which to build a competitive edge.

Accepted Answer

A) True 
 B)False

Question 12

Relatively few consumer goods use the manufacturer-to-retailer-to-consumer distribution channel.

Accepted Answer

A) True 
 B)False

Question 13

Speeding new products to market is one of the philosophies of Total Quality Management (TQM).

Accepted Answer

A) True 
 B)False

Question 14

Marketing experts recommend introducing a new product only when the existing one is in the maturity stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 15

When it comes to gathering market research on customers,most small companies tend to be:

Accepted Answer

A) as good at it as large companies. 
B) at a severe disadvantage in comparison to large companies. 
C) data rich,lots of facts,but information poor,little in a useful form. 
D) less effective at defining the research problem than larger companies. 
A) as good at it as large companies. 
B) at a severe disadvantage in comparison to large companies. 
C) data rich,lots of facts,but information poor,little in a useful form. 
D) less effective at defining the research problem than larger companies.

Question 16

Companies do a number of things to focus on their customers,including:

Accepted Answer

A) fixing customer complaints quickly. 
B) conducting market research on what superior customer service is. 
C) offering quality products at low prices. 
D) implementing a TCM management system in their production facility. 
A) fixing customer complaints quickly. 
B) conducting market research on what superior customer service is. 
C) offering quality products at low prices. 
D) implementing a TCM management system in their production facility.

Question 17

Surveys,questionnaires,and focus groups are considered to be:

Accepted Answer

A) primary research. 
B) secondary research. 
C) data collation. 
D) All of the above 
A) primary research. 
B) secondary research. 
C) data collation. 
D) All of the above

Question 18

Time compression management (TCM)involves:

Accepted Answer

A) speeding new products to market. 
B) enhancing the quality of existing products. 
C) decreasing the time it takes a product to move from introduction to the maturity stage of the product life cycle. 
D) shortening the sales clerks' response time to customers entering the retail store and then being served. 
A) speeding new products to market. 
B) enhancing the quality of existing products. 
C) decreasing the time it takes a product to move from introduction to the maturity stage of the product life cycle. 
D) shortening the sales clerks' response time to customers entering the retail store and then being served.

Question 19

The primary general goal of market research is to identify and profile the target market and most profitable customer in it.

Accepted Answer

A) True 
 B)False

Question 20

Bootstrap marketing also is sometimes known as:

Accepted Answer

A) ambush marketing. 
B) target marketing. 
C) customer marketing. 
D) guerilla marketing. 
A) ambush marketing. 
B) target marketing. 
C) customer marketing. 
D) guerilla marketing.

Exam 9: Building a Bootstrap Marketing Plan

One-to-one marketing is a marketing strategy that:

What characterizes companies that "get it right the first time," that have an emphasis on quality?

TCM focuses solely on reducing administrative time in product development.

Numerous surveys have concluded that the most important element of service is:

A ________ is a small number of customers who give you feedback on specific issues in your business-quality,convenience,hours of operation,service,and so on.

Tracking demographic trends is interesting,but it is not essential to building or implementing a successful marketing plan.

Small companies are at a definite disadvantage compared to larger ones when it comes to conducting market research since it is so expensive.

A free trial offer is an example of non-price competitive factor.

What can an entrepreneur do to be more effective at innovation?

One of the most commonly cited reasons for a new product failing is that it is not adequately differentiated from competitive products.

Price is the safest criterion upon which to build a competitive edge.

Relatively few consumer goods use the manufacturer-to-retailer-to-consumer distribution channel.

Speeding new products to market is one of the philosophies of Total Quality Management (TQM).

Marketing experts recommend introducing a new product only when the existing one is in the maturity stage of the product life cycle.

When it comes to gathering market research on customers,most small companies tend to be:

Companies do a number of things to focus on their customers,including:

Surveys,questionnaires,and focus groups are considered to be:

Time compression management (TCM)involves:

The primary general goal of market research is to identify and profile the target market and most profitable customer in it.

Bootstrap marketing also is sometimes known as:

Entrepreneurs: the Driving Force Behind Small Business

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Strategic Management and the Entrepreneur

Choosing a Form of Ownership

Franchising and the Entrepreneur

Buying an Existing Business

New Business Planning Process: Feasibility Analysis,business Modeling,

Creative Use of Advertising and Promotion

Pricing and Credit Strategies

Global Marketing Strategies

E-Commerce and Entrepreneurship

Creating a Solid Financial Plan

Managing Cash Flow

Sources of Equity Financing

Sources of Debt Financing

Location,layout,and Physical Facilities

Supply Chain Management

Managing Inventory

Staffing and Leading a Growing Company

Management Succession and Risk Management Strategies in the Family Business

The Legal Environment: Business Law and Government Regulation

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