True / False
1. Promotion tends to be more price-focused or incentive-focused and therefore is usually considered a push strategy.
a.
True
b.
False
True
1
2. For most entrepreneurs, making a big financial investment in advertising and promotion makes sense.
a.
True
b.
False
False
1
3. Launch objectives are the key goals for the marketing campaign.
a.
True
b.
False
True
1
4. Building brand equity requires that customers form an emotional attachment to a brand.
a.
True
b.
False
True
1
5. Strategies deal with the needs of the customer and what is being offered to satisfy those needs.
a.
True
b.
False
True
1
6. The Yellow Pages do not effectively generate awareness of new products/services in the early stages.
a.
True
b.
False
False
1
7. Tactics include the media, channels, and delivery mechanisms used to reach the customer and create brand awareness.
a.
True
b.
False
True
1
14.2 The Marketing Plan
8. Advertising and promotion are both used to create awareness of the company’s products, services, and pricing to
influence customers to buy.
a.
True
b.
False
False
1
14.2 The Marketing Plan
9. Traditional advertising – a push strategy – consists of print and broadcast media.
a.
True
b.
False
False
1
14.2 The Marketing Plan
10. Giving customers something for nothing makes sense in an environment where it is hard to get customers’ attention.
a.
True
b.
False
Multiple Choice
11. The challenges to product development include all of these except:
a.
Rising supply chain complexity
b.
Increasing costs
c.
Global competition
d.
Diffusion
e.
Increased costs of trade promotions
d
1
14.1 Product Adoption and the Customer Journey
12. To the extent that entrepreneurs can predict the points of takeoff (optimism) and slowdown (pessimism) in the ____,
they can better manage demand.
a.
life cycle
b.
marketing plan
c.
diffusion cycle
d.
promotion plan
e.
None of these choices
a
1
14.1 Product Adoption and the Customer Journey
13. Geoffrey Moore’s modification of the adoption/diffusion curve shows the ____, a period when the early adopters have
been exhausted and the technology stops selling.
a.
long tail
b.
life cycle
c.
tornado
d.
chasm
e.
void
d
1
14.1 Product Adoption and the Customer Journey
14. The American Marketing Association defines ____ as a “name, term, design, symbol, or any other feature that
identifies one seller’s good or service as distinct” from other sellers.
a.
advertising
b.
Promotion
c.
brand
d.
brand image
e.
brand
d
1
14.2 The Marketing Plan
15. ____ generally employs a pull strategy, focusing on non-price benefits and targets end-users.
a.
Personal selling
b.
Relationship marketing
c.
Advertising
d.
Promotion
e.
Viral marketing
c
1
14.2 The Marketing Plan
16. ____ marketing is widely used to describe a marketing strategy that entices customers to pass on the marketing
message to others.
a.
Personal
b.
Relationship
c.
Guerilla
d.
Viral
e.
Complaint
17. ____ Readers provide a way to find out what others are saying about an entrepreneur’s company by enabling the
entrepreneur to subscribe to blogs and podcasts.
a.
RSS
b.
SEM
c.
SEO
d.
Viral
e.
None of these choices
18. ____ is simply a tool for increasing the level of visibility of a website when customers search for specific key words.
a.
Search engine marketing
b.
Search engine optimization
c.
RSS reader
d.
Both “Search engine marketing” and “Search engine optimization“
e.
Both “Search engine marketing” and “RSS reader”
19. ____, such as banner exchange programs, is/are strategic partnerships intended to increase website traffic.
a.
Vodcasts
b.
Affiliate programs
c.
Social media
d.
Crowdsourcing
e.
Search engine marketing
20. A/An ____ is one of the best places to meet and negotiate with sales representatives and to gather contact information
for a mailing list.
a.
website
b.
blog
c.
affiliate program
d.
online community
e.
trade show
e
1
14.4 Personal Selling
21. Viewing customers as contributing members of the team rather than a series of transactions is the essence of ____.
a.
personal selling
b.
customer relationship management
c.
financial planning
d.
market segmentation
e.
traditional marketing
b
1
14.5 Managing Customer Relationships (CRM)
22. One way to stem complaints at the source is to provide ____.
a.
sales promotion
b.
publicity
c.
satisfaction surveys
d.
public relations
e.
complaint forms
c
1
14.5 Managing Customer Relationships (CRM)
23. A living guide to how the company plans to build customer relationships over its life in order to fulfill the mission
statement in the business plan is a ____.
a.
guerrilla plan
b.
marketing schedule
c.
public relations forum
d.
marketing plan
e.
public relations plan
d
1
14.2 The Marketing Plan
24. All of the following are steps to take prior to writing a marketing plan except ____.
a.
build brand equity
b.
identify core values
c.
define channel strategies
d.
identify a niche
e.
define the message
a
1
14.2 The Marketing Plan
25. The marketing message or pitch presents the ____ of a product/service as a solution to the problem the customer is
experiencing.
a.
goals
b.
benefit
c.
sales
d.
promotion
e.
None of these choices
b
1
14.2 The Marketing Plan
26. All of the following are part of the “5 P’s” of marketing except ____.
a.
purpose
b.
product
c.
place
d.
people
e.
promotion
a
1
Developing a Startup Marketing Plan, Intro
27. One of the biggest problems with most marketing plans is that:
a.
They use guerrilla marketing tactics
b.
They fail to take into account the customer relationship
c.
They are driven primarily by the effort to overcome complaints
d.
They are not followed long enough
e.
None of these is correct
d
1
14.2 The Marketing Plan
28. Two of the most effective entrepreneurial marketing tools around, because they do not cost the company any money,
are word-of-mouth and ____.
a.
publicity
b.
advertising
c.
personal selling
d.
service promotion
e.
guerrilla marketing
a
1
14.2 The Marketing Plan
29. Print (such as newspapers) and broadcast (such as radio) are two categories of ____.
a.
product branding
b.
distribution strategies
c.
traditional advertising
d.
pricing strategies
e.
guerilla marketing
c
1
14.2 The Marketing Plan
30. An effective press release should contain all of the following except ____.
a.
the release date
b.
the name of the person to contact for more information
c.
a phone number
d.
a customer referral
e.
a descriptive headline
31. ____ combine(s) technology, training, and business strategy in a system for gathering and using information on
current and prospective customers.
a.
Trade shows and exhibits
b.
Online marketing
c.
Customer relationship management
d.
Advertising
e.
Personal selling
c
1
14.5 Managing Customer Relationships (CRM)
32. ____ can be thought of as a bundle of ____ benefits that a company is providing to its customers, and these benefits
reflect the company’s core values.
a.
Management / tangible
b.
Marketing / tangible
c.
Marketing / intangible
d.
Management / intangible
e.
None of these choices
c
1
Developing a Startup Marketing Plan, Intro
33. The rise of technology aids consumers, and will raise their expectations in all of these ways except:
a.
Consumes will want to interact with anyone, anytime, and anywhere
b.
They will want to be able to do new things with new information in new ways
c.
They will expect everything to be targeted to their precise needs, so they can have the unique experience they
want
d.
They will want advertising to provide them with instructions for use of a new product
e.
They want this all to happen easily with no learning curve
d
1
Developing a Startup Marketing Plan, Intro
34. The book Diffusion of Innovations identifies the group of customers who tend to purchase a product only if they
absolutely have to as the ____.
a.
adopters
b.
early majority
c.
late majority
d.
laggards
e.
innovators
d
1
14.1 Product Adoption and the Customer Journey
35. All of the following factors except ____ are included in the discussion of adoption/diffusion cycles and the rate at
which a new product is adopted across the various customer segments.
a.
usability
b.
perceived benefit
c.
the learning curve
d.
switching costs
e.
relationship marketing
e
1
14.1 Product Adoption and the Customer Journey
36. On average, a customer will see an ad ____ times before actually purchasing the product.
a.
5 to 10
b.
10 to 20
c.
15 to 20
d.
20 to 25
e.
10 to 15
c
1
14.2 The Marketing Plan
37. ____ benefits that customers appreciate include such things as access, saving money, saving time, convenience, and
health.
a.
Tangible
b.
Material
c.
Intangible
d.
Niche
e.
Advertising
c
1
14.2 The Marketing Plan
38. The term ____ refers to a customer’s perceived preference for, and evaluation of, product attributes, attribute
performances, and consequences arising from use that facilitates (or blocks) achieving the customer’s goals and purposes
in use situations.
a.
customer value
b.
customer relationships
c.
customer costs
d.
customer savings
e.
customer satisfaction
a
1
14.2 The Marketing Plan
39. ____ is a set of decisions about a product’s position in the marketplace.
a.
The marketing plan
b.
A marketing tactic
c.
Brand strategy
d.
Brand building
e.
Brand equity
c
1
14.2 The Marketing Plan
40. Even though the term ____ has negative connotations, it is widely used to describe a marketing strategy that entices
customers to pass on marketing messages to others.
a.
search engine marketing
b.
viral marketing
c.
affiliate program
d.
word-of-mouth referral
e.
Internet marketing
Subjective Short Answer
41. Define and discuss customer relationship marketing.
purchase what the company has to offer.
1
14.3 Entrepreneurial Market Strategies
42. Briefly discuss some of the effective ways to stem complaints.
relationship.
1
pp. 14.3 Entrepreneurial Market Strategies
43. What are the advantages of trade shows and exhibits?
1
44. Briefly discuss what it means to become a value-added company.
45. Briefly discuss affiliate programs.
46. What is viral marketing? What do most successful viral marketers do?
47. What should the marketing plan in one paragraph include?
48. Describe the techniques that entrepreneurs can use to improve their personal selling skills.
49. Define marketing and publicity. What is the relationship between the two?
50. Define and discuss search engine marketing.