Question 1

Sources of secondary data can include which of the following?

Accepted Answer

A)  commercial sources such as Nielson Indexes or Dun and Bradstreet 
B)  government sources such as Statistics Canada 
C)  newspaper, magazine, or other published articles 
D)  the Internet 
E)  All of the answers are correct. 
A)  commercial sources such as Nielson Indexes or Dun and Bradstreet 
B)  government sources such as Statistics Canada 
C)  newspaper, magazine, or other published articles 
D)  the Internet 
E)  All of the answers are correct. E

Question 2

As described in the Opening Profile to Chapter 5, the key to Spin Master Ltd.'s success has been __________.

Accepted Answer

A)  large budget, mass communications campaigns aimed directly at their target market, children 
B)  ingenuity and a combination of public relations and grassroots marketing 
C)  innovative product development and flexible manufacturing techniques 
D)  intensive retail distribution 
E)  None of the answers apply. 
A)  large budget, mass communications campaigns aimed directly at their target market, children 
B)  ingenuity and a combination of public relations and grassroots marketing 
C)  innovative product development and flexible manufacturing techniques 
D)  intensive retail distribution 
E)  None of the answers apply. B

Question 3

As a primary data collection method, networking __________.

Accepted Answer

A)  is the most common approach to gathering information 
B)  is the simplest approach to gathering information 
C)  is the least focused approach to gathering information 
D)  can be a valuable, low-cost method to learn about the marketplace 
E)  None of the answers apply. 
A)  is the most common approach to gathering information 
B)  is the simplest approach to gathering information 
C)  is the least focused approach to gathering information 
D)  can be a valuable, low-cost method to learn about the marketplace 
E)  None of the answers apply. D

Question 4

When comparing survey methods of gathering primary data, mail surveys can be cheaply done but suffer from a poor response rate and length of time to complete.

Accepted Answer

A) True 
 B)False

Question 5

As defined in the text, pursuing traditional goals of profit and revenue through unconventional means is known as __________.

Accepted Answer

A)  guerilla marketing 
B)  tactical marketing 
C)  lean marketing 
D)  strategic marketing 
E)  None of the answers apply. 
A)  guerilla marketing 
B)  tactical marketing 
C)  lean marketing 
D)  strategic marketing 
E)  None of the answers apply.

Question 6

The first step in preparing the marketing plan is to __________.

Accepted Answer

A)  define the business situation by conducting a situation analysis 
B)  set marketing objectives that are specific and measurable 
C)  determine marketing strategies and prepare action programs with assigned responsibilities 
D)  match feasibility of programs against available resources 
E)  None of the answers apply. 
A)  define the business situation by conducting a situation analysis 
B)  set marketing objectives that are specific and measurable 
C)  determine marketing strategies and prepare action programs with assigned responsibilities 
D)  match feasibility of programs against available resources 
E)  None of the answers apply.

Question 7

Decisions related to quality of materials, style, features, options, brand name, packaging, sizes, service availability, and warranties belong under which of the following marketing mix elements?

Accepted Answer

A)  product 
B)  price 
C)  distribution 
D)  promotion 
E)  None of the answers apply. 
A)  product 
B)  price 
C)  distribution 
D)  promotion 
E)  None of the answers apply.

Question 8

Internet marketing allows entrepreneurs to present consumers with a significant amount of Information ___________________________.

Accepted Answer

A)  to establish controls on the process 
B)  to redirect or modify the effort 
C)  to track the process 
D)  at lower cost than traditional methods. 
A)  to establish controls on the process 
B)  to redirect or modify the effort 
C)  to track the process 
D)  at lower cost than traditional methods.

Question 9

The key to an effective relationship marketing program is __________.

Accepted Answer

A)  the use of technology to gather information on different customer groups 
B)  to ignore traditional market segmentation methods and target all customers in the beginning 
C)  to be able to identify who the most profitable customers are to a business 
D)  to allocate the promotional budget towards many different groups rather than only a few 
E)  None of the answers apply. 
A)  the use of technology to gather information on different customer groups 
B)  to ignore traditional market segmentation methods and target all customers in the beginning 
C)  to be able to identify who the most profitable customers are to a business 
D)  to allocate the promotional budget towards many different groups rather than only a few 
E)  None of the answers apply.

Question 10

The fourth step in preparing the marketing plan is to __________.

Accepted Answer

A)  define the business situation by conducting a situation analysis 
B)  set marketing objectives that are specific and measurable 
C)  determine marketing strategies and prepare action programs with assigned responsibilities 
D)  match feasibility of programs against available resources 
E)  None of the answers apply. 
A)  define the business situation by conducting a situation analysis 
B)  set marketing objectives that are specific and measurable 
C)  determine marketing strategies and prepare action programs with assigned responsibilities 
D)  match feasibility of programs against available resources 
E)  None of the answers apply.

Question 11

Which of the following would be considered an external environmental factor?

Accepted Answer

A)  technology 
B)  culture 
C)  the economy 
D)  competition 
E)  All of the answers are correct. 
A)  technology 
B)  culture 
C)  the economy 
D)  competition 
E)  All of the answers are correct.

Question 12

When determining channel strategy, selecting as many retailers and/or wholesalers as possible is known as __________ distribution.

Accepted Answer

A)  intensive 
B)  selective 
C)  exclusive 
D)  mass 
E)  None of the answers apply. 
A)  intensive 
B)  selective 
C)  exclusive 
D)  mass 
E)  None of the answers apply.

Question 13

Commercial data sources used for marketing research are widely available but may be cost prohibitive for the individual entrepreneur.

Accepted Answer

A) True 
 B)False

Question 14

When determining channel strategy, selecting only one wholesaler and/or retailer is known as __________ distribution.

Accepted Answer

A)  intensive 
B)  selective 
C)  exclusive 
D)  solitary 
E)  None of the answers apply. 
A)  intensive 
B)  selective 
C)  exclusive 
D)  solitary 
E)  None of the answers apply.

Question 15

Generally speaking, entrepreneurs see the external environment as __________ but need to be recognized as part of the marketing plan.

Accepted Answer

A)  uncontrollable 
B)  marginally influential 
C)  largely influential 
D)  predictable 
E)  None of the answers apply. 
A)  uncontrollable 
B)  marginally influential 
C)  largely influential 
D)  predictable 
E)  None of the answers apply.

Question 16

Questions used in surveys in marketing research should be designed to __________.

Accepted Answer

A)  be easy to answer 
B)  not bias the respondent 
C)  be clear and concise 
D)  All of the answers are correct. 
E)  None of the answers apply. 
A)  be easy to answer 
B)  not bias the respondent 
C)  be clear and concise 
D)  All of the answers are correct. 
E)  None of the answers apply.

Question 17

As a primary data collection method, focus groups __________.

Accepted Answer

A)  should be led by the entrepreneur 
B)  consist of 20 to 30 potential customers 
C)  are an informal method of gathering market information 
D)  can gather large amounts of quantitative data for relatively little cost 
E)  All of the answers are correct. 
A)  should be led by the entrepreneur 
B)  consist of 20 to 30 potential customers 
C)  are an informal method of gathering market information 
D)  can gather large amounts of quantitative data for relatively little cost 
E)  All of the answers are correct.

Question 18

Middlemen companies such as wholesalers and retailers add value in which of the following ways?

Accepted Answer

A)  offering lower distribution costs due to economies of scale 
B)  by performing important functions for customers 
C)  by performing important functions for manufacturers 
D)  providing assistance to entrepreneurs based on their experience in the marketplace 
E)  All of the answers are correct. 
A)  offering lower distribution costs due to economies of scale 
B)  by performing important functions for customers 
C)  by performing important functions for manufacturers 
D)  providing assistance to entrepreneurs based on their experience in the marketplace 
E)  All of the answers are correct.

Question 19

As discussed in the text, the strongest argument for conducting marketing research as part of the entrepreneurship process is which of the following?

Accepted Answer

A)  It takes relatively few people to produce a statistically valid and accurate sample for a large market. 
B)  Only marketing research will give you unbiased opinions of your ideas, versus those of your friends, family, and associates. 
C)  Properly segmenting a market takes research to know what groups exist and how they are different from each other. 
D)  The costs of business failure are much higher than the cost of conducting marketing research, which if done properly, can help to avoid failure in the first place. 
E)  All of the answers are correct. 
A)  It takes relatively few people to produce a statistically valid and accurate sample for a large market. 
B)  Only marketing research will give you unbiased opinions of your ideas, versus those of your friends, family, and associates. 
C)  Properly segmenting a market takes research to know what groups exist and how they are different from each other. 
D)  The costs of business failure are much higher than the cost of conducting marketing research, which if done properly, can help to avoid failure in the first place. 
E)  All of the answers are correct.

Question 20

What is guerrilla marketing and what are some examples of the efforts that can be taken to affect this.

Accepted Answer

Guerrilla marketing involves pursuing tr

Sources of secondary data can include which of the following?

As described in the Opening Profile to Chapter 5, the key to Spin Master Ltd.'s success has been __________.

As a primary data collection method, networking __________.

When comparing survey methods of gathering primary data, mail surveys can be cheaply done but suffer from a poor response rate and length of time to complete.

As defined in the text, pursuing traditional goals of profit and revenue through unconventional means is known as __________.

The first step in preparing the marketing plan is to __________.

Decisions related to quality of materials, style, features, options, brand name, packaging, sizes, service availability, and warranties belong under which of the following marketing mix elements?

Internet marketing allows entrepreneurs to present consumers with a significant amount of Information ___________________________.

The key to an effective relationship marketing program is __________.

The fourth step in preparing the marketing plan is to __________.

Which of the following would be considered an external environmental factor?

When determining channel strategy, selecting as many retailers and/or wholesalers as possible is known as __________ distribution.

Commercial data sources used for marketing research are widely available but may be cost prohibitive for the individual entrepreneur.

When determining channel strategy, selecting only one wholesaler and/or retailer is known as __________ distribution.

Generally speaking, entrepreneurs see the external environment as __________ but need to be recognized as part of the marketing plan.

Questions used in surveys in marketing research should be designed to __________.

As a primary data collection method, focus groups __________.

Middlemen companies such as wholesalers and retailers add value in which of the following ways?

As discussed in the text, the strongest argument for conducting marketing research as part of the entrepreneurship process is which of the following?

What is guerrilla marketing and what are some examples of the efforts that can be taken to affect this.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploring New Entries

Creativity and the Business Idea

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Filters

Exam 5: Identifying and Analyzing Domestic and International Opportunities

Sources of secondary data can include which of the following?

As described in the Opening Profile to Chapter 5, the key to Spin Master Ltd.'s success has been __________.

As a primary data collection method, networking __________.

When comparing survey methods of gathering primary data, mail surveys can be cheaply done but suffer from a poor response rate and length of time to complete.

As defined in the text, pursuing traditional goals of profit and revenue through unconventional means is known as __________.

The first step in preparing the marketing plan is to __________.

Decisions related to quality of materials, style, features, options, brand name, packaging, sizes, service availability, and warranties belong under which of the following marketing mix elements?

Internet marketing allows entrepreneurs to present consumers with a significant amount of Information ___________________________.

The key to an effective relationship marketing program is __________.

The fourth step in preparing the marketing plan is to __________.

Which of the following would be considered an external environmental factor?

When determining channel strategy, selecting as many retailers and/or wholesalers as possible is known as __________ distribution.

Commercial data sources used for marketing research are widely available but may be cost prohibitive for the individual entrepreneur.

When determining channel strategy, selecting only one wholesaler and/or retailer is known as __________ distribution.

Generally speaking, entrepreneurs see the external environment as __________ but need to be recognized as part of the marketing plan.

Questions used in surveys in marketing research should be designed to __________.

As a primary data collection method, focus groups __________.

Middlemen companies such as wholesalers and retailers add value in which of the following ways?

As discussed in the text, the strongest argument for conducting marketing research as part of the entrepreneurship process is which of the following?

What is guerrilla marketing and what are some examples of the efforts that can be taken to affect this.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploring New Entries

Creativity and the Business Idea

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Filters