Question 1

Manufacturer's representatives are marketing middlemen that:

Accepted Answer

A) take title and physical possession of the product. 
B) take physical possession of the product. 
C) work exclusively for the entrepreneur. 
D) are paid a commission when a sale is made.

Question 2

The marketing system identifies the major interacting components,both internal and external to the firm.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is (are)not a key element in the pricing strategy?

Accepted Answer

A) Cost 
B) Margin or markup 
C) Competition 
D) Distribution

Question 4

Private data sources,such as Information Resources,Inc.and Nielsen Indexes,are a low-cost secondary data source.

Accepted Answer

A) True 
 B)False

Question 5

Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?

Accepted Answer

A) Analyzing and interpreting the results 
B) Gathering data from primary sources 
C) Gathering data from secondary sources 
D) Defining the purpose or objectives

Question 6

Which form of promotion is too expensive for most entreprenuers to use?

Accepted Answer

A) TV 
B) Print Ads 
C) Radio 
D) Webpage

Question 7

Defining the purpose or objectives of marketing research is often the most difficult stage for an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 8

Which survey method results in the worst response rate?

Accepted Answer

A) Telephone 
B) Mail 
C) Personal 
D) Internet

Question 9

Which of the following is not a major question that should be addressed by the marketing plan?

Accepted Answer

A) Where have we been? 
B) Where do we want to go in the short term? 
C) Where do we want to go in the long term? 
D) How do we get there?

Question 10

The marketing mix consists of:

Accepted Answer

A) product,price,research,and promotion. 
B) product,research,distribution,and promotion. 
C) product,price,distribution,and promotion. 
D) product,price,distribution,and research.

Question 11

The marketing plan is not meant to be a commitment by the entrepreneur to a specific strategy.

Accepted Answer

A) True 
 B)False

Question 12

Information that already exists is called:

Accepted Answer

A) secondary datA. 
B) primary data. 
C) marketing data. 
D) target data.

Question 13

Major considerations in channel of distribution selection include degree of directness and number of channel members.

Accepted Answer

A) True 
 B)False

Question 14

The simplest approach to gathering primary information is:

Accepted Answer

A) observation. 
B) focus groups. 
C) experimentation. 
D) interviewing.

Question 15

Marketing research begins with:

Accepted Answer

A) setting the advertising budget. 
B) definition of objectives or purpose. 
C) identifying direct marketing strategy. 
D) collecting a list of primary and secondary sources of information.

Question 16

If the entrepreneur is constantly faced with significant changes in the marketing strategy,then it is likely that:

Accepted Answer

A) there is insufficient monitoring of the plan. 
B) the plan was not prepared properly. 
C) the business marketing effort does not support the strategy. 
D) there have been too many external factors that were difficult to predict.

Question 17

Financial resources and the management team are both examples of the:

Accepted Answer

A) external environment. 
B) marketing mix decision variables. 
C) internal environment. 
D) feedback system.

Question 18

Once the marketing goals and objectives have been established,the entrepreneur can begin to develop the __________ and __________ to achieve them.

Accepted Answer

A) marketing plan,industry analysis 
B) marketing mix,consumer research 
C) marketing strategy,action plan 
D) market research,industry analysis

Question 19

An updated marketing plan should be prepared by the entrepreneur every two years.

Accepted Answer

A) True 
 B)False

Question 20

_____ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel.

Accepted Answer

A) Market segmentation 
B) Marketing planning 
C) Market mixing 
D) Marketing research

Exam 8: The Marketing Plan

Manufacturer's representatives are marketing middlemen that:

The marketing system identifies the major interacting components,both internal and external to the firm.

Which of the following is (are) not a key element in the pricing strategy?

Private data sources,such as Information Resources,Inc.and Nielsen Indexes,are a low-cost secondary data source.

Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?

Which form of promotion is too expensive for most entreprenuers to use?

Defining the purpose or objectives of marketing research is often the most difficult stage for an entrepreneur.

Which survey method results in the worst response rate?

Which of the following is not a major question that should be addressed by the marketing plan?

The marketing mix consists of:

The marketing plan is not meant to be a commitment by the entrepreneur to a specific strategy.

Information that already exists is called:

Major considerations in channel of distribution selection include degree of directness and number of channel members.

The simplest approach to gathering primary information is:

Marketing research begins with:

If the entrepreneur is constantly faced with significant changes in the marketing strategy,then it is likely that:

Financial resources and the management team are both examples of the:

Once the marketing goals and objectives have been established,the entrepreneur can begin to develop the and to achieve them.

An updated marketing plan should be prepared by the entrepreneur every two years.

_____ is the process of gathering information in order to determine who will buy the product and what is the most appropriate distribution channel.