Question 1

Which is true of sizing the market? Market sizing:

Accepted Answer

A)  Occurs after an entrepreneur has defined market segments. 
B)  Requires identification of one or two small segments experiencing the problem. 
C)  Eliminates the need for competitor research. 
D)  None of the above are true statements about market sizing. 
A)  Occurs after an entrepreneur has defined market segments. 
B)  Requires identification of one or two small segments experiencing the problem. 
C)  Eliminates the need for competitor research. 
D)  None of the above are true statements about market sizing.

Question 2

Good sources of primary market research include information extracted from industry studies, books and journals.

Accepted Answer

A) True 
 B)False

Question 3

The ________ is a group of salespeople who work directly for the company and are paid straight salary, salary plus bonus, or straight commission.

Accepted Answer

The answer of The ________ is a group of salespeople...

Question 4

A(n) ________ is a small segment of a large market ignored by other companies.

Accepted Answer

The answer of A(n) ________ is a small segment of...

Question 5

__________ segmentation is very important for retail businesses, restaurants, and services addressing their local surroundings only.

Accepted Answer

A)  Geographic segmentation 
B)  Business demographics 
C)  Ethnic segmentation 
D)  Viral segmentation 
A)  Geographic segmentation 
B)  Business demographics 
C)  Ethnic segmentation 
D)  Viral segmentation

Question 6

All of the following are disadvantages of using sales agents except:

Accepted Answer

A)  The entrepreneur has little control over the sales agents. 
B)  Sales agents usually sell other products or services as part of a complete line. 
C)  Sales costs are not incurred until the product is sold. 
D)  Sales agents tend to push the easier-to-sell products or services. 
A)  The entrepreneur has little control over the sales agents. 
B)  Sales agents usually sell other products or services as part of a complete line. 
C)  Sales costs are not incurred until the product is sold. 
D)  Sales agents tend to push the easier-to-sell products or services.

Question 7

The advantage of using sales agents is that they usually sell other competitors' products or services as part of a complete line.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is NOT a primary purpose of market research?

Accepted Answer

A)  to identify and validate the customer need in solving a specific problem or task. 
B)  to validate whether the proposed solution is different and unique from existing customer options. 
C)  to explore the best way to attract and acquire new customers. 
D)  to decide if direct sales and/or trade shows are appropriate marketing channels. 
A)  to identify and validate the customer need in solving a specific problem or task. 
B)  to validate whether the proposed solution is different and unique from existing customer options. 
C)  to explore the best way to attract and acquire new customers. 
D)  to decide if direct sales and/or trade shows are appropriate marketing channels.

Question 9

_________ are good places to exhibit and sell products.

Accepted Answer

The answer of _________ are good places to exhibit and...

Question 10

All of the following are key steps to becoming a one-to-one marketer except:

Accepted Answer

A)  Link customers' identities to their transactions 
B)  Calculate individual customer lifetime value 
C)  Mass market to customers using generic approach to satisfy all 
D)  Practice just-in-time marketing 
A)  Link customers' identities to their transactions 
B)  Calculate individual customer lifetime value 
C)  Mass market to customers using generic approach to satisfy all 
D)  Practice just-in-time marketing

Question 11

After the trade show, the company should develop screening questions to identify solid sales leads.

Accepted Answer

A) True 
 B)False

Question 12

________ describes mechanisms by which customers are triggered and motivated to recommend a product or service to other potential customers.

Accepted Answer

The answer of ________ describes mechanisms by which customers are...

Question 13

Marketing plans often place a great deal of emphasis on acquisition but not on customer loyalty.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following works as a subcontractor to sell products or services?

Accepted Answer

A)  Direct sales force 
B)  Sales Agents 
C)  Trade shows 
D)  Entrepreneurs 
A)  Direct sales force 
B)  Sales Agents 
C)  Trade shows 
D)  Entrepreneurs

Question 15

To determine the best type of advertising, entrepreneurs should consider all of the following except:

Accepted Answer

A)  Variables of targeted audience 
B)  Type of product 
C)  Cost 
D)  Entrepreneurial personality 
A)  Variables of targeted audience 
B)  Type of product 
C)  Cost 
D)  Entrepreneurial personality

Question 16

To identify which businesses will provide the most competition, ask questions in all areas of competition except which one of the following?

Accepted Answer

A)  Product or service 
B)  Price 
C)  Financial 
D)  Personal 
A)  Product or service 
B)  Price 
C)  Financial 
D)  Personal

Question 17

The best advocate for a company's products or services is the:

Accepted Answer

A)  New customer 
B)  Existing customer 
C)  Entrepreneur 
D)  Sales Representative 
A)  New customer 
B)  Existing customer 
C)  Entrepreneur 
D)  Sales Representative

Question 18

All of the following are ways that a market can be segmented except:

Accepted Answer

A)  Viral segmentation 
B)  Geographic segmentation 
C)  Business demographics 
D)  Psychographic segmentation 
A)  Viral segmentation 
B)  Geographic segmentation 
C)  Business demographics 
D)  Psychographic segmentation

Question 19

What is the key to the process of controlling costs and showing a profit?

Accepted Answer

A)  Pricing 
B)  Market analysis 
C)  Supply and demand 
D)  Sales strategy 
A)  Pricing 
B)  Market analysis 
C)  Supply and demand 
D)  Sales strategy

Question 20

Google also offers free software tools to monitor web site effectiveness called Google Maps.

Accepted Answer

A) True 
 B)False

Which is true of sizing the market? Market sizing:

Good sources of primary market research include information extracted from industry studies, books and journals.

The ________ is a group of salespeople who work directly for the company and are paid straight salary, salary plus bonus, or straight commission.

A(n) ________ is a small segment of a large market ignored by other companies.

__________ segmentation is very important for retail businesses, restaurants, and services addressing their local surroundings only.

All of the following are disadvantages of using sales agents except:

The advantage of using sales agents is that they usually sell other competitors' products or services as part of a complete line.

Which of the following is NOT a primary purpose of market research?

_________ are good places to exhibit and sell products.

All of the following are key steps to becoming a one-to-one marketer except:

After the trade show, the company should develop screening questions to identify solid sales leads.

________ describes mechanisms by which customers are triggered and motivated to recommend a product or service to other potential customers.

Marketing plans often place a great deal of emphasis on acquisition but not on customer loyalty.

Which of the following works as a subcontractor to sell products or services?

To determine the best type of advertising, entrepreneurs should consider all of the following except:

To identify which businesses will provide the most competition, ask questions in all areas of competition except which one of the following?

The best advocate for a company's products or services is the:

All of the following are ways that a market can be segmented except:

What is the key to the process of controlling costs and showing a profit?

Google also offers free software tools to monitor web site effectiveness called Google Maps.

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters

Exam 4: Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Which is true of sizing the market? Market sizing:

Good sources of primary market research include information extracted from industry studies, books and journals.

The ________ is a group of salespeople who work directly for the company and are paid straight salary, salary plus bonus, or straight commission.

A(n) ________ is a small segment of a large market ignored by other companies.

__________ segmentation is very important for retail businesses, restaurants, and services addressing their local surroundings only.

All of the following are disadvantages of using sales agents except:

The advantage of using sales agents is that they usually sell other competitors' products or services as part of a complete line.

Which of the following is NOT a primary purpose of market research?

_________ are good places to exhibit and sell products.

All of the following are key steps to becoming a one-to-one marketer except:

After the trade show, the company should develop screening questions to identify solid sales leads.

________ describes mechanisms by which customers are triggered and motivated to recommend a product or service to other potential customers.

Marketing plans often place a great deal of emphasis on acquisition but not on customer loyalty.

Which of the following works as a subcontractor to sell products or services?

To determine the best type of advertising, entrepreneurs should consider all of the following except:

To identify which businesses will provide the most competition, ask questions in all areas of competition except which one of the following?

The best advocate for a company's products or services is the:

All of the following are ways that a market can be segmented except:

What is the key to the process of controlling costs and showing a profit?

Google also offers free software tools to monitor web site effectiveness called Google Maps.

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters