Deck 10: Marketing Challenges for Entrepreneurial Ventures

Question 1

Secondary data consists of

A)internal data only
B)external data only
C)existing information
D)newly developed primary research

Answer 1

C

Question 2

Skimming is setting prices at such a low level that products are sold at a loss.

Answer 2

False

Question 3

Inhibitors to marketing research include all of the following except:

A)cost
B)irrelevancy
C)complexity
D)distribution

Answer 3

D

Question 4

Market segmentation is

A)the process of categorizing products into different segments
B)the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
C)the process of segmenting the sales force
D)heavily psychographic in nature

Question 5

The 4Ps of marketing include all the following except:

A)principle
B)product
C)price
D)promotion

Question 6

All of the following techniques are used in gathering primary data except

A)observational methods
B)analysis of financial records
C)surveys
D)experimentation

Question 7

A market is

A)a group of consumers who have purchasing power and unsatisfied needs
B)a way of gaining consumer data
C)a segment of the economy
D)a group of known purchasers

Question 8

Only major strategic decisions need to be supported through marketing research.

Question 9

Of the following,which is not associated with entrepreneurial tactics in market research?

A)guerrilla marketing
B)lead user research
C)in-person interviews
D)blog monitoring

Question 10

Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.

Question 11

When developing a survey,you should consider

A)including questions only pertaining to the study.
B)ask leading and biased questions.
C)giving concise but incomplete instructions.
D)the personality of the respondents.

Question 12

In the marketing shift from the 4Ps to the 4Cs,price shifts to choice and promotion shifts to communities.

Question 13

Social media marketing is the application of online collaborative media for marketing purposes.

Question 14

Marketing information that has already been compiled is known as secondary data.

Question 15

The textbook recommends that social media marketers consider three aspects of social media when using social media tools for marketing purposes. What are they?

A)cost, complexity, and relevancy
B)creating something of value, enabling customer promotion, and encouraging participation
C)control, contribution, and distribution
D)resource management, context, and content

Question 16

The 4Cs of marketing include all the following except:

A)cocreation
B)communities
C)choice
D)continuity

Question 17

Pricing the social media age is sometimes based on a model that offers basic levels of service for free.

Question 18

Marketing research involves the gathering of information about a particular market,followed by analysis of the information.

Question 19

Pricing procedures are the same for all types of ventures.

Question 20

It is usually more expensive to gather secondary data than primary data.

Question 21

Of the following pricing models,which is not indicative of pricing in the social media age?

A)the subscription model
B)the freemium model
C)the affiliate model
D)the growth stage model

Question 22

What is meant by pricing for the life cycle?

A)that pricing needs to be adjusted at each stage in a product's life cycle
B)that pricing needs to be increased at each stage in a product's life cycle
C)that pricing of new products needs to start out low and end high
D)that pricing of new products needs to start out high and end low

Question 23

What three important aspects of social media marketing should entrepreneurs be aware of?

Question 24

Of the following,which does the textbook identify as critical to the marketing planning process?

A)market niche
B)market segmentation
C)marketing research
D)marketing myopia

Question 25

What is guerrilla marketing?

Question 26

What is skimming and what are its effects?

Question 27

What is skimming?

A)setting price to maximize profit
B)setting price to maximize market share
C)setting price to switch customers to new product lines
D)setting price to match the competition

Question 28

What is penetration pricing?

A)setting price to maximize profit
B)setting price to maximize market share
C)setting price to switch customers to new product lines
D)setting price to match the competition

Question 29

Identify and describe two pricing models pertinent to the social media age?

Question 30

Explain the new marketing concept?