Deck 14: Creating a Startup Funding Strategy

Question 1

____ 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

Answer 1

C

Question 2

Tactics include the media, channels, and delivery mechanisms used to reach the customer and create brand awareness.

Answer 2

True

Question 3

Launch objectives are the key goals for the marketing campaign. ​

Answer 3

True

Question 4

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

Question 5

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

Question 6

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

Question 7

Strategies deal with the needs of the customer and what is being offered to satisfy those needs.

Question 8

Traditional advertising - a push strategy - consists of print and broadcast media.

Question 9

____, 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

Question 10

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

Question 11

For most entrepreneurs, making a big financial investment in advertising and promotion makes sense.

Question 12

Giving customers something for nothing makes sense in an environment where it is hard to get customers' attention.

Question 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

Question 14

Advertising and promotion are both used to create awareness of the company's products, services, and pricing to influence customers to buy.

Question 15

Promotion tends to be more price-focused or incentive-focused and therefore is usually considered a push strategy. ​

Question 16

____ 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"

Question 17

____ 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

Question 18

____ 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

Question 19

Building brand equity requires that customers form an emotional attachment to a brand.

Question 20

The Yellow Pages do not effectively generate awareness of new products/services in the early stages.

Question 21

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

Question 22

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

Question 23

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

Question 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

Question 25

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

Question 26

____ 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

Question 27

All of the following are part of the "5 P's" of marketing except ____.

A)purpose
B)product ​
C)place
D)people
E)promotion

Question 28

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

Question 29

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

Question 30

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

Question 31

____ 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

Question 32

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

Question 33

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

Question 34

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

Question 35

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

Question 36

____ 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

Question 37

____ 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

Question 38

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

Question 39

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

Question 40

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

Question 41

Briefly discuss what it means to become a value-added company.

Question 42

What are the advantages of trade shows and exhibits? ​

Question 43

Briefly discuss affiliate programs.

Question 44

Describe the techniques that entrepreneurs can use to improve their personal selling skills.

Question 45

Define and discuss customer relationship marketing.

Question 46

Briefly discuss some of the effective ways to stem complaints.

Question 47

What should the marketing plan in one paragraph include?

Question 48

Define marketing and publicity. What is the relationship between the two?

Question 49

Define and discuss search engine marketing.

Question 50

What is viral marketing? What do most successful viral marketers do?